Colony Bankcorp Inc (NASDAQ:CBAN) Sees Large Decline in Short Interest

Colony Bankcorp Inc (NASDAQ:CBAN) was the recipient of a large decline in short interest in November. As of November 29th, there was short interest totalling 47,400 shares, a decline of 15.4% from the November 14th total of 56,000 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average trading volume of 7,400 shares, the short-interest ratio is presently 6.4 days.

Separately, ValuEngine raised Colony Bankcorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd.

Shares of CBAN traded down $0.03 during trading hours on Thursday, hitting $16.22. The company had a trading volume of 9,836 shares, compared to its average volume of 13,608. The company has a market capitalization of $150.75 million, a PE ratio of 11.34 and a beta of 0.68. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.70. Colony Bankcorp has a one year low of $13.89 and a one year high of $18.95. The company’s fifty day moving average price is $15.80 and its two-hundred day moving average price is $16.11.

Colony Bankcorp (NASDAQ:CBAN) last announced its earnings results on Friday, October 18th. The financial services provider reported $0.35 earnings per share for the quarter. Colony Bankcorp had a return on equity of 10.89% and a net margin of 14.89%. The firm had revenue of $16.69 million for the quarter.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a dividend of $0.075 per share. The ex-dividend date was Wednesday, October 30th. This represents a $0.30 annualized dividend and a yield of 1.85%.

In other news, CFO Terry L. Hester sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $16.00, for a total value of $48,000.00. Following the completion of the transaction, the chief financial officer now directly owns 98,873 shares of the company’s stock, valued at approximately $1,581,968. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in Colony Bankcorp by 5,728.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,040 shares of the financial services provider’s stock worth $35,000 after buying an additional 2,005 shares during the last quarter. Context BH Capital Management LP grew its stake in Colony Bankcorp by 5.7% during the 2nd quarter. Context BH Capital Management LP now owns 12,037 shares of the financial services provider’s stock worth $204,000 after buying an additional 649 shares during the last quarter. Northern Trust Corp purchased a new position in Colony Bankcorp during the 2nd quarter worth $263,000. Charles Schwab Investment Management Inc. purchased a new position in Colony Bankcorp during the 2nd quarter worth $308,000. Finally, Bank of New York Mellon Corp purchased a new position in Colony Bankcorp during the 2nd quarter worth $466,000. Hedge funds and other institutional investors own 20.46% 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 retail customers. It offers various deposit products, including demand, savings, and time deposits. The company 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.

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