Colony Bankcorp (NASDAQ:CBAN) Insider Edward Canup Acquires 1,000 Shares

Colony Bankcorp, Inc. (NASDAQ:CBAN) insider Edward Canup purchased 1,000 shares of the stock in a transaction dated Monday, November 17th. The shares were purchased at an average price of $16.23 per share, with a total value of $16,230.00. Following the completion of the acquisition, the insider owned 9,275 shares of the company’s stock, valued at approximately $150,533.25. This represents a 12.08% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Colony Bankcorp Trading Down 0.4%

Shares of CBAN traded down $0.07 on Wednesday, hitting $16.16. 57,822 shares of the stock traded hands, compared to its average volume of 62,540. 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 firm has a market capitalization of $281.75 million, a P/E ratio of 11.97 and a beta of 0.72. The stock’s 50 day moving average is $16.73 and its two-hundred day moving average is $16.48. Colony Bankcorp, Inc. has a 1 year low of $13.99 and a 1 year high of $18.49.

Colony Bankcorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 5th 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 of this dividend is Wednesday, November 5th. Colony Bankcorp’s dividend payout ratio is currently 28.93%.

Institutional Investors Weigh In On Colony Bankcorp

A number of institutional investors have recently bought and sold shares of CBAN. Jacobs Levy Equity Management Inc. purchased a new position in Colony Bankcorp during the third quarter worth approximately $446,000. Qube Research & Technologies Ltd grew its stake in shares of Colony Bankcorp by 103.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 72,695 shares of the financial services provider’s stock valued at $1,237,000 after buying an additional 36,907 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Colony Bankcorp during the 3rd quarter worth $44,000. Maltese Capital Management LLC raised its position in shares of Colony Bankcorp by 22.0% in the 3rd quarter. Maltese Capital Management LLC now owns 38,329 shares of the financial services provider’s stock worth $652,000 after buying an additional 6,914 shares during the period. Finally, Ameriprise Financial Inc. purchased a new position in shares of Colony Bankcorp in the 3rd quarter worth $485,000. 50.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Hovde Group lifted their price objective 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, the company has a consensus rating of “Buy” and a consensus target price of $21.00.

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.