Colony Bankcorp, Inc. (NASDAQ:CBAN) Short Interest Down 21.1% in October

Colony Bankcorp, Inc. (NASDAQ:CBAN) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 74,500 shares, a decline of 21.1% from the October 15th total of 94,400 shares. Based on an average daily trading volume, of 35,200 shares, the days-to-cover ratio is currently 2.1 days.

Colony Bankcorp Price Performance

Shares of CBAN stock traded down $0.11 during mid-day trading on Friday, hitting $16.98. 51,801 shares of the stock traded hands, compared to its average volume of 35,140. Colony Bankcorp has a twelve month low of $10.33 and a twelve month high of $18.03. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.81. The company’s 50-day simple moving average is $15.56 and its 200-day simple moving average is $13.81. The firm has a market cap of $297.66 million, a price-to-earnings ratio of 13.58 and a beta of 0.57.

Colony Bankcorp (NASDAQ:CBAN) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $44.69 million during the quarter, compared to analyst estimates of $28.67 million. Colony Bankcorp had a net margin of 12.75% and a return on equity of 8.86%. During the same period in the prior year, the business earned $0.34 earnings per share. As a group, equities research analysts expect that Colony Bankcorp will post 1.33 earnings per share for the current year.

Colony Bankcorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th will be given a $0.112 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $0.45 annualized dividend and a dividend yield of 2.64%. Colony Bankcorp’s dividend payout ratio (DPR) is presently 36.00%.

Institutional Trading of Colony Bankcorp

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Colony Bankcorp by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 508,394 shares of the financial services provider’s stock valued at $6,228,000 after buying an additional 38,457 shares during the period. De Lisle Partners LLP grew its stake in Colony Bankcorp by 105.8% in the third quarter. De Lisle Partners LLP now owns 68,087 shares of the financial services provider’s stock valued at $1,058,000 after purchasing an additional 35,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Colony Bankcorp by 116.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,285 shares of the financial services provider’s stock valued at $579,000 after buying an additional 20,031 shares in the last quarter. Barclays PLC increased its holdings in Colony Bankcorp by 49.5% in the third quarter. Barclays PLC now owns 54,484 shares of the financial services provider’s stock worth $845,000 after buying an additional 18,048 shares during the last quarter. Finally, State Street Corp lifted its stake in Colony Bankcorp by 7.6% in the third quarter. State Street Corp now owns 253,507 shares of the financial services provider’s stock valued at $3,934,000 after acquiring an additional 17,865 shares during the last quarter. 50.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Colony Bankcorp from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th.

About Colony Bankcorp

Colony Bankcorp, Inc operates as the bank holding company for Colony Bank that provides various banking products and services to commercial and consumer customers. The company offers deposit products, including demand, savings, and time deposits. It also provides loans to small and medium-sized businesses; residential and commercial construction, and land development loans; commercial real estate loans; commercial loans; agri-business and production loans; residential mortgage loans; home equity loans; and consumer loans.