Banc Funds Co. LLC Reduces Stake in Colony Bankcorp, Inc. (NASDAQ:CBAN)

Banc Funds Co. LLC lowered its stake in shares of Colony Bankcorp, Inc. (NASDAQ:CBAN) by 6.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 983,813 shares of the financial services provider’s stock after selling 71,579 shares during the quarter. Colony Bankcorp accounts for 1.7% of Banc Funds Co. LLC’s portfolio, making the stock its 19th biggest position. Banc Funds Co. LLC owned about 0.06% of Colony Bankcorp worth $15,269,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in Colony Bankcorp by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 46,458 shares of the financial services provider’s stock valued at $721,000 after purchasing an additional 1,500 shares during the period. Empowered Funds LLC raised its stake in Colony Bankcorp by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 35,478 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 1,742 shares during the period. Ritholtz Wealth Management lifted its holdings in Colony Bankcorp by 8.9% during the second quarter. Ritholtz Wealth Management now owns 26,753 shares of the financial services provider’s stock valued at $328,000 after purchasing an additional 2,193 shares during the last quarter. Renaissance Technologies LLC boosted its position in Colony Bankcorp by 3.6% during the second quarter. Renaissance Technologies LLC now owns 95,078 shares of the financial services provider’s stock worth $1,165,000 after purchasing an additional 3,300 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Colony Bankcorp by 0.8% in the first quarter. Vanguard Group Inc. now owns 918,020 shares of the financial services provider’s stock worth $10,557,000 after purchasing an additional 6,891 shares in the last quarter. Institutional investors own 50.37% of the company’s stock.

Colony Bankcorp Price Performance

Colony Bankcorp stock opened at $17.63 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. Colony Bankcorp, Inc. has a one year low of $10.33 and a one year high of $18.49. The firm has a market capitalization of $309.05 million, a P/E ratio of 14.10 and a beta of 0.57. The business has a fifty day moving average price of $15.98 and a 200-day moving average price of $14.23.

Colony Bankcorp (NASDAQ:CBAN) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Colony Bankcorp had a return on equity of 8.86% and a net margin of 12.75%. The business had revenue of $44.69 million during the quarter, compared to analyst estimates of $28.67 million. During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, equities research analysts forecast that Colony Bankcorp, Inc. will post 1.38 EPS for the current year.

Colony Bankcorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th were issued a dividend of $0.112 per share. This represents a $0.45 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Wednesday, November 6th. Colony Bankcorp’s dividend payout ratio (DPR) is presently 36.00%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Colony Bankcorp from a “hold” rating to a “buy” rating in a report on Thursday.

Colony Bankcorp 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.