Colony Bankcorp (NASDAQ:CBAN) Price Target Raised to $21.00

Colony Bankcorp (NASDAQ:CBAN) had its target price lifted by Hovde Group from $19.50 to $21.00 in a research report report published on Tuesday morning, Marketbeat.com reports. Hovde Group currently has an outperform rating on the financial services provider’s stock.

Colony Bankcorp Stock Performance

NASDAQ CBAN opened at $16.38 on Tuesday. The firm has a market cap of $286.01 million, a P/E ratio of 12.13 and a beta of 0.62. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.90. The company’s 50 day moving average is $16.33 and its 200-day moving average is $16.15. Colony Bankcorp has a 12-month low of $13.00 and a 12-month high of $18.49.

Colony Bankcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, August 6th. Colony Bankcorp’s payout ratio is presently 29.11%.

Insider Activity

In related news, Director Paul E. Joiner III bought 6,150 shares of the business’s stock in a transaction on Friday, May 30th. The stock was acquired at an average price of $15.01 per share, for a total transaction of $92,311.50. Following the purchase, the director directly owned 6,150 shares in the company, valued at $92,311.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders acquired 8,650 shares of company stock worth $133,733. Insiders own 6.62% of the company’s stock.

Hedge Funds Weigh In On Colony Bankcorp

Several hedge funds have recently bought and sold shares of the company. American Century Companies Inc. boosted its holdings in Colony Bankcorp by 60.7% in the 1st quarter. American Century Companies Inc. now owns 156,556 shares of the financial services provider’s stock valued at $2,528,000 after purchasing an additional 59,128 shares during the period. Raymond James Financial Inc. bought a new stake in Colony Bankcorp during the fourth quarter valued at $905,000. Mackenzie Financial Corp grew its position in Colony Bankcorp by 175.6% during the first quarter. Mackenzie Financial Corp now owns 81,469 shares of the financial services provider’s stock worth $1,316,000 after buying an additional 51,912 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Colony Bankcorp by 123.5% in the 4th quarter. JPMorgan Chase & Co. now owns 62,806 shares of the financial services provider’s stock worth $1,014,000 after acquiring an additional 34,703 shares during the last quarter. Finally, Nuveen LLC bought a new position in Colony Bankcorp in the 1st quarter worth about $534,000. Hedge funds and other institutional investors own 50.37% of the company’s stock.

Colony Bankcorp Company Profile

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.