Colony Bankcorp, Inc. Announces Quarterly Dividend of $0.11 (NASDAQ:CBAN)

Colony Bankcorp, Inc. (NASDAQ:CBAN) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Wednesday, May 8th will be paid a dividend of 0.112 per share by the financial services provider on Wednesday, May 22nd. This represents a $0.45 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Tuesday, May 7th.

Colony Bankcorp has increased its dividend payment by an average of 3.2% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Colony Bankcorp has a payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Colony Bankcorp to earn $1.44 per share next year, which means the company should continue to be able to cover its $0.45 annual dividend with an expected future payout ratio of 31.3%.

Colony Bankcorp Trading Up 0.9 %

NASDAQ CBAN opened at $11.30 on Monday. The stock’s fifty day moving average price is $10.96 and its 200-day moving average price is $11.38. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.94. The stock has a market cap of $198.43 million, a P/E ratio of 9.04 and a beta of 0.54. Colony Bankcorp has a 12 month low of $8.59 and a 12 month high of $13.58.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Colony Bankcorp from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th.

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.