Polaris Capital Management LLC Acquires 8,700 Shares of Colony Bankcorp, Inc. (NASDAQ:CBAN)

Polaris Capital Management LLC boosted its stake in shares of Colony Bankcorp, Inc. (NASDAQ:CBAN) by 7.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 133,179 shares of the financial services provider’s stock after buying an additional 8,700 shares during the quarter. Polaris Capital Management LLC’s holdings in Colony Bankcorp were worth $2,150,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake 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 worth $721,000 after buying an additional 1,500 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Colony Bankcorp by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 35,478 shares of the financial services provider’s stock worth $551,000 after purchasing an additional 1,742 shares in the last quarter. SG Americas Securities LLC acquired a new position in Colony Bankcorp during the 4th quarter worth approximately $113,000. Geode Capital Management LLC boosted its holdings in Colony Bankcorp by 2.2% in the third quarter. Geode Capital Management LLC now owns 363,547 shares of the financial services provider’s stock worth $5,643,000 after acquiring an additional 7,740 shares in the last quarter. Finally, Ritholtz Wealth Management grew its stake in Colony Bankcorp by 40.0% in the third quarter. Ritholtz Wealth Management now owns 37,452 shares of the financial services provider’s stock valued at $581,000 after acquiring an additional 10,699 shares during the period. 50.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Colony Bankcorp from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th.

Colony Bankcorp Stock Performance

Shares of CBAN opened at $16.89 on Tuesday. The firm has a market capitalization of $295.84 million, a P/E ratio of 11.66 and a beta of 0.62. 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 $10.33 and a 52 week high of $18.49. The stock has a 50 day moving average price of $16.46 and a two-hundred day moving average price of $15.76.

Colony Bankcorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, February 5th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.72%. This is an increase from Colony Bankcorp’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Wednesday, February 5th. Colony Bankcorp’s dividend payout ratio (DPR) is presently 34.07%.

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.