Colony Bankcorp, Inc. (NASDAQ:CBAN) Short Interest Up 11.1% in August

Colony Bankcorp, Inc. (NASDAQ:CBAN) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 78,200 shares, a growth of 11.1% from the August 15th total of 70,400 shares. Based on an average daily volume of 55,600 shares, the short-interest ratio is currently 1.4 days.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Colony Bankcorp from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th.

Colony Bankcorp Price Performance

NASDAQ:CBAN traded down $0.01 during mid-day trading on Tuesday, hitting $15.50. 39,870 shares of the stock traded hands, compared to its average volume of 43,000. Colony Bankcorp has a 12-month low of $9.35 and a 12-month high of $15.80. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 1.01. The company has a market cap of $272.16 million, a PE ratio of 12.40 and a beta of 0.57. The business’s 50-day moving average price is $14.22 and its 200 day moving average price is $12.37.

Colony Bankcorp (NASDAQ:CBAN) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. Colony Bankcorp had a return on equity of 9.09% and a net margin of 13.03%. The company had revenue of $42.83 million during the quarter, compared to analyst estimates of $28.97 million. During the same quarter last year, the company earned $0.33 earnings per share. On average, analysts expect that Colony Bankcorp will post 1.33 EPS for the current fiscal year.

Colony Bankcorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.112 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.45 annualized dividend and a yield of 2.89%. Colony Bankcorp’s payout ratio is presently 36.00%.

Hedge Funds Weigh In On Colony Bankcorp

A number of hedge funds and other institutional investors have recently bought and sold shares of CBAN. New York State Common Retirement Fund grew its position in Colony Bankcorp by 725.7% in the fourth quarter. New York State Common Retirement Fund now owns 7,737 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 6,800 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Colony Bankcorp by 42.1% during the 4th quarter. BNP Paribas Financial Markets now owns 24,506 shares of the financial services provider’s stock valued at $326,000 after purchasing an additional 7,261 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Colony Bankcorp by 168.0% during the 4th quarter. Panagora Asset Management Inc. now owns 35,531 shares of the financial services provider’s stock valued at $473,000 after buying an additional 22,272 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in Colony Bankcorp in the 4th quarter worth approximately $684,000. Finally, Trexquant Investment LP boosted its stake in Colony Bankcorp by 31.1% in the fourth quarter. Trexquant Investment LP now owns 27,777 shares of the financial services provider’s stock worth $369,000 after buying an additional 6,586 shares in the last quarter. Hedge funds and other institutional investors own 50.37% of the company’s stock.

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.