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

Colony Bankcorp (NASDAQ:CBAN) had its price target lifted by Hovde Group from $21.00 to $22.00 in a report issued on Monday, MarketBeat reports. The firm currently has an outperform rating on the financial services provider’s stock.

Colony Bankcorp Stock Up 2.1%

Colony Bankcorp stock opened at $20.95 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market capitalization of $445.19 million, a PE ratio of 15.52 and a beta of 0.65. The business has a 50 day simple moving average of $18.30 and a 200-day simple moving average of $17.27. Colony Bankcorp has a 12 month low of $13.99 and a 12 month high of $21.46.

Colony Bankcorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, February 11th. This is a positive change from Colony Bankcorp’s previous quarterly dividend of $0.12. Colony Bankcorp’s payout ratio is presently 30.19%.

Hedge Funds Weigh In On Colony Bankcorp

Several hedge funds and other institutional investors have recently made changes to their positions in CBAN. Vanguard Group Inc. increased its position in shares of Colony Bankcorp by 4.6% during the third quarter. Vanguard Group Inc. now owns 945,386 shares of the financial services provider’s stock worth $16,081,000 after purchasing an additional 41,879 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Colony Bankcorp by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 708,698 shares of the financial services provider’s stock worth $12,055,000 after purchasing an additional 21,715 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Colony Bankcorp by 3.0% during the second quarter. Geode Capital Management LLC now owns 367,897 shares of the financial services provider’s stock worth $6,060,000 after buying an additional 10,798 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Colony Bankcorp by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 286,561 shares of the financial services provider’s stock valued at $4,720,000 after buying an additional 2,313 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its stake in shares of Colony Bankcorp by 29.2% in the second quarter. Hillsdale Investment Management Inc. now owns 280,657 shares of the financial services provider’s stock worth $4,622,000 after buying an additional 63,400 shares in the last quarter. 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.