Allspring Global Investments Holdings LLC Cuts Stock Position in Colony Bankcorp, Inc. (NASDAQ:CBAN)

Allspring Global Investments Holdings LLC lessened its stake in Colony Bankcorp, Inc. (NASDAQ:CBAN) by 24.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 14,490 shares of the financial services provider’s stock after selling 4,625 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Colony Bankcorp were worth $167,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CBAN. SG Americas Securities LLC purchased a new stake in Colony Bankcorp in the 4th quarter worth $119,000. Ritholtz Wealth Management purchased a new stake in shares of Colony Bankcorp during the fourth quarter worth $197,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Colony Bankcorp during the fourth quarter worth $45,000. New York State Common Retirement Fund grew its holdings in shares of Colony Bankcorp by 725.7% during the fourth quarter. New York State Common Retirement Fund now owns 7,737 shares of the financial services provider’s stock worth $103,000 after buying an additional 6,800 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Colony Bankcorp by 42.1% during the fourth quarter. BNP Paribas Financial Markets now owns 24,506 shares of the financial services provider’s stock worth $326,000 after buying an additional 7,261 shares in the last quarter. Hedge funds and other institutional investors own 50.37% of the company’s stock.

Colony Bankcorp Price Performance

Colony Bankcorp stock opened at $13.26 on Friday. The company has a fifty day simple moving average of $11.84 and a 200-day simple moving average of $11.71. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $232.85 million, a price-to-earnings ratio of 10.61 and a beta of 0.58. Colony Bankcorp, Inc. has a 52-week low of $9.35 and a 52-week high of $13.58.

Colony Bankcorp (NASDAQ:CBAN) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.33 earnings per share for the quarter. The firm had revenue of $28.14 million for the quarter. Colony Bankcorp had a net margin of 13.17% and a return on equity of 9.22%. On average, equities analysts anticipate that Colony Bankcorp, Inc. will post 1.32 EPS for the current fiscal year.

Colony Bankcorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were given a dividend of $0.112 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.45 annualized dividend and a dividend yield of 3.38%. Colony Bankcorp’s payout ratio is 36.00%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Colony Bankcorp from a “hold” rating to a “buy” rating in a report on Wednesday, May 29th.

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.