Key Points
- Insider buy: Director Edward Canup purchased 1,000 shares on Nov. 17 at $16.23 each ($16,230 total), increasing his stake to 9,275 shares — a 12.08% rise — as disclosed in an SEC filing.
- Dividend update: Colony Bankcorp paid a quarterly dividend of $0.115 per share (ex-dividend Nov. 5, paid Nov. 19), equal to $0.46 annually for a ~2.8% yield and a payout ratio of about 28.9%.
- Analyst outlook: Hovde Group upgraded to "outperform" and raised its target to $21, and MarketBeat shows an average analyst price target of $21 with a consensus "Buy" rating.
Colony Bankcorp, Inc. (NASDAQ:CBAN - Get Free Report) insider Edward Canup acquired 1,000 shares of the company's stock in a transaction that occurred on Monday, November 17th. The stock was bought at an average cost of $16.23 per share, with a total value of $16,230.00. Following the purchase, the insider owned 9,275 shares in the company, valued at $150,533.25. The trade was a 12.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.
Colony Bankcorp Price Performance
Shares of NASDAQ CBAN traded up $0.34 during midday trading on Thursday, reaching $16.50. 9,004 shares of the company were exchanged, compared to its average volume of 62,275. The stock's 50-day moving average price is $16.71 and its 200-day moving average price is $16.48. The stock has a market cap of $287.59 million, a P/E ratio of 12.26 and a beta of 0.72. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.90. Colony Bankcorp, Inc. has a one year low of $13.99 and a one year high of $18.49.
Colony Bankcorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Wednesday, November 5th were given a dividend of $0.115 per share. The ex-dividend date was Wednesday, November 5th. This represents a $0.46 dividend on an annualized basis and a yield of 2.8%. Colony Bankcorp's payout ratio is currently 28.93%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Colony Bankcorp by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 945,386 shares of the financial services provider's stock valued at $16,081,000 after buying an additional 41,879 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Colony Bankcorp by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 708,698 shares of the financial services provider's stock worth $12,055,000 after acquiring an additional 21,715 shares during the period. Geode Capital Management LLC boosted its holdings in Colony Bankcorp by 3.0% in the second quarter. Geode Capital Management LLC now owns 367,897 shares of the financial services provider's stock valued at $6,060,000 after acquiring an additional 10,798 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Colony Bankcorp by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 286,561 shares of the financial services provider's stock valued at $4,720,000 after acquiring an additional 2,313 shares during the last quarter. Finally, Hillsdale Investment Management Inc. increased its position in Colony Bankcorp by 29.2% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 280,657 shares of the financial services provider's stock valued at $4,622,000 after purchasing an additional 63,400 shares during the period. 50.37% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, Hovde Group increased their target price on Colony Bankcorp from $19.50 to $21.00 and gave the company an "outperform" rating in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $21.00.
Get Our Latest Analysis on Colony Bankcorp
Colony Bankcorp Company Profile
(
Get Free Report)
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.
Further Reading
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