Colony Bankcorp (NASDAQ:CBAN) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Colony Bankcorp, Inc. (NASDAQ:CBAN) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.43 and traded as low as $15.90. Colony Bankcorp shares last traded at $16.0760, with a volume of 40,149 shares traded.

Analyst Upgrades and Downgrades

Separately, Hovde Group raised their target price on Colony Bankcorp from $19.50 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $21.00.

Colony Bankcorp Stock Performance

The firm’s 50-day moving average price is $16.84 and its two-hundred day moving average price is $16.44. 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 $280.70 million, a PE ratio of 11.91 and a beta of 0.72.

Colony Bankcorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 5th will be issued a dividend of $0.115 per share. The ex-dividend date is Wednesday, November 5th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.9%. Colony Bankcorp’s payout ratio is currently 28.93%.

Hedge Funds Weigh In On Colony Bankcorp

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Colony Bankcorp by 4.6% during the third quarter. Vanguard Group Inc. now owns 945,386 shares of the financial services provider’s stock valued at $16,081,000 after purchasing an additional 41,879 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Colony Bankcorp by 41.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,429 shares of the financial services provider’s stock valued at $484,000 after buying an additional 8,332 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Colony Bankcorp by 14.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,655 shares of the financial services provider’s stock valued at $130,000 after buying an additional 974 shares in the last quarter. SummerHaven Investment Management LLC bought a new stake in shares of Colony Bankcorp in the 3rd quarter valued at approximately $814,000. Finally, CWM LLC increased its holdings in Colony Bankcorp by 29.0% in the third quarter. CWM LLC now owns 3,447 shares of the financial services provider’s stock worth $59,000 after buying an additional 774 shares during the last quarter. 50.37% of the stock is owned by institutional investors and hedge funds.

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.