Los Angeles Capital Management LLC Sells 7,120 Shares of Colony Bankcorp, Inc. $CBAN

Los Angeles Capital Management LLC reduced its holdings in Colony Bankcorp, Inc. (NASDAQ:CBAN) by 17.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,615 shares of the financial services provider’s stock after selling 7,120 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.20% of Colony Bankcorp worth $570,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in Colony Bankcorp by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 48,332 shares of the financial services provider’s stock valued at $781,000 after purchasing an additional 1,147 shares during the last quarter. CWM LLC increased its stake in shares of Colony Bankcorp by 55.6% in the first quarter. CWM LLC now owns 2,102 shares of the financial services provider’s stock valued at $34,000 after buying an additional 751 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Colony Bankcorp by 175.6% in the first quarter. Mackenzie Financial Corp now owns 81,469 shares of the financial services provider’s stock valued at $1,316,000 after buying an additional 51,912 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Colony Bankcorp by 16.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,431 shares of the financial services provider’s stock valued at $879,000 after buying an additional 7,659 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Colony Bankcorp during the 1st quarter worth about $534,000. 50.37% of the stock is owned by institutional investors and hedge funds.

Colony Bankcorp Price Performance

Shares of CBAN stock opened at $16.51 on Friday. The firm’s 50 day moving average price is $16.77 and its two-hundred day moving average price is $16.46. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.80 and a current ratio of 0.81. Colony Bankcorp, Inc. has a 52-week low of $13.99 and a 52-week high of $18.49. The stock has a market cap of $287.85 million, a PE ratio of 12.23 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 given a dividend of $0.115 per share. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.8%. Colony Bankcorp’s dividend payout ratio (DPR) is currently 28.93%.

Analyst Ratings Changes

Separately, Hovde Group increased 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 presently has an average rating of “Buy” and a consensus price target 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.