Hillsdale Investment Management Inc. Sells 27,700 Shares of Colony Bankcorp, Inc. $CBAN

Hillsdale Investment Management Inc. trimmed its position in Colony Bankcorp, Inc. (NYSE:CBAN) by 10.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 239,257 shares of the company’s stock after selling 27,700 shares during the quarter. Hillsdale Investment Management Inc. owned 1.13% of Colony Bankcorp worth $4,264,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CBAN. Public Employees Retirement System of Ohio bought a new position in Colony Bankcorp in the third quarter valued at approximately $44,000. BNP Paribas Financial Markets increased its stake in Colony Bankcorp by 38.4% in the second quarter. BNP Paribas Financial Markets now owns 3,491 shares of the company’s stock valued at $57,000 after acquiring an additional 969 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Colony Bankcorp by 83.0% in the third quarter. Russell Investments Group Ltd. now owns 3,593 shares of the company’s stock valued at $61,000 after acquiring an additional 1,630 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Colony Bankcorp by 14.6% in the third quarter. PNC Financial Services Group Inc. now owns 7,655 shares of the company’s stock valued at $130,000 after acquiring an additional 974 shares during the last quarter. Finally, Daytona Street Capital LLC bought a new position in Colony Bankcorp in the fourth quarter valued at approximately $164,000. 50.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CBAN has been the topic of a number of research analyst reports. Brean Capital upgraded shares of Colony Bankcorp from a “neutral” rating to a “buy” rating in a research report on Monday, March 23rd. Weiss Ratings upgraded shares of Colony Bankcorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, May 15th. Wall Street Zen lowered shares of Colony Bankcorp from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Hovde Group raised their target price on shares of Colony Bankcorp from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Finally, Zacks Research lowered shares of Colony Bankcorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Colony Bankcorp Price Performance

Shares of NYSE:CBAN opened at $19.79 on Monday. The firm has a market cap of $418.65 million, a PE ratio of 12.37 and a beta of 0.56. The firm’s fifty day moving average is $20.00 and its 200-day moving average is $19.13. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.88 and a current ratio of 0.89. Colony Bankcorp, Inc. has a 52 week low of $14.63 and a 52 week high of $21.61.

Colony Bankcorp (NYSE:CBAN) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. The company had revenue of $39.90 million for the quarter, compared to analyst estimates of $42.10 million. Colony Bankcorp had a net margin of 14.83% and a return on equity of 10.23%. Sell-side analysts predict that Colony Bankcorp, Inc. will post 1.91 earnings per share for the current year.

Colony Bankcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, May 6th. Colony Bankcorp’s payout ratio is 30.00%.

Colony Bankcorp Company Profile

Colony Bankcorp, Inc is a bank holding company headquartered in Baxley, Georgia, that operates through its primary subsidiary, The Colony Bank. The company’s core focus is on delivering community banking services tailored to individuals, small businesses and agricultural customers throughout Georgia and Florida. Colony Bankcorp’s structure supports a full suite of deposit and lending solutions designed to meet the needs of local markets.

The company offers a range of deposit products, including personal and business checking accounts, savings and money market accounts, and certificates of deposit.