Colony Bankcorp (NASDAQ:CBAN) Price Target Raised to $22.00 at Hovde Group

Colony Bankcorp (NASDAQ:CBAN) had its price objective lifted by Hovde Group from $21.00 to $22.00 in a report released on Monday morning, MarketBeat reports. They currently have an outperform rating on the financial services provider’s stock.

Colony Bankcorp Stock Performance

NASDAQ:CBAN opened at $20.13 on Monday. The stock has a 50-day moving average price of $18.15 and a 200 day moving average price of $17.23. The stock has a market capitalization of $427.68 million, a P/E ratio of 14.91 and a beta of 0.66. Colony Bankcorp has a 12-month low of $13.99 and a 12-month high of $20.23. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.90.

Colony Bankcorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, February 11th. This is an increase from Colony Bankcorp’s previous quarterly dividend of $0.12. Colony Bankcorp’s dividend payout ratio is presently 30.19%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Colony Bankcorp in the third quarter worth about $3,148,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Colony Bankcorp during the 3rd quarter worth approximately $1,583,000. Hillsdale Investment Management Inc. raised its holdings in shares of 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 worth $4,622,000 after acquiring an additional 63,400 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Colony Bankcorp by 39.8% during the 2nd quarter. American Century Companies Inc. now owns 218,878 shares of the financial services provider’s stock valued at $3,605,000 after acquiring an additional 62,322 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Colony Bankcorp in the third quarter valued at $1,016,000. Hedge funds and other institutional investors own 50.37% of the company’s stock.

About Colony Bankcorp

Colony Bankcorp is a bank holding company headquartered in Fitzgerald, Georgia, operating through its wholly owned subsidiary Colony Bank. The company offers a full suite of commercial and consumer banking products, including checking and savings accounts, certificates of deposit, and mortgage lending. In addition to traditional deposit and loan services, Colony Bank provides home equity loans, SBA financing, and treasury management solutions tailored to small and medium-sized businesses.

Beyond its core banking offerings, Colony Bankcorp delivers trust and wealth management services through dedicated fiduciary professionals.