Capital City Bank Group (NASDAQ:CCBG) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Capital City Bank Group (NASDAQ:CCBG) from a hold rating to a buy rating in a report published on Thursday morning.

Several other research firms have also commented on CCBG. Keefe, Bruyette & Woods raised their price target on shares of Capital City Bank Group from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Hovde Group upped their target price on Capital City Bank Group from $30.00 to $37.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler cut shares of Capital City Bank Group from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $30.00 to $34.00 in a research note on Monday, July 29th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Capital City Bank Group has a consensus rating of “Moderate Buy” and a consensus target price of $35.80.

Capital City Bank Group Stock Down 1.4 %

Shares of NASDAQ CCBG traded down $0.55 during mid-day trading on Thursday, reaching $38.03. 11,969 shares of the company were exchanged, compared to its average volume of 31,628. Capital City Bank Group has a 1 year low of $25.45 and a 1 year high of $40.08. The firm has a 50-day moving average of $35.23 and a 200 day moving average of $31.70. The stock has a market cap of $644.23 million, a price-to-earnings ratio of 12.74 and a beta of 0.53. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11.

Capital City Bank Group (NASDAQ:CCBG) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. Capital City Bank Group had a net margin of 19.42% and a return on equity of 11.29%. The business had revenue of $68.84 million for the quarter, compared to analysts’ expectations of $54.40 million.

Capital City Bank Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Monday, September 9th. This is a positive change from Capital City Bank Group’s previous quarterly dividend of $0.21. Capital City Bank Group’s payout ratio is currently 30.16%.

Insider Activity

In related news, Treasurer Thomas A. Barron sold 3,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $33.81, for a total value of $101,430.00. Following the transaction, the treasurer now directly owns 140,681 shares of the company’s stock, valued at approximately $4,756,424.61. This trade represents a 2.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 19.40% of the company’s stock.

Institutional Trading of Capital City Bank Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Isthmus Partners LLC raised its holdings in shares of Capital City Bank Group by 1.3% during the second quarter. Isthmus Partners LLC now owns 108,929 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 1,346 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Capital City Bank Group by 22.3% in the 1st quarter. Lazard Asset Management LLC now owns 3,624 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 662 shares during the period. Blue Trust Inc. grew its position in Capital City Bank Group by 1,482.3% during the third quarter. Blue Trust Inc. now owns 4,193 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 3,928 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Capital City Bank Group in the 3rd quarter worth approximately $184,000. Finally, Princeton Capital Management LLC acquired a new position in shares of Capital City Bank Group in the second quarter worth $204,000. Institutional investors own 44.59% of the company’s stock.

About Capital City Bank Group

Capital City Bank Group, Inc operates as the financial holding company for Capital City Bank that provides a range of banking- related services to individual and corporate clients. The company offers financing for commercial business properties, equipment, inventories, and accounts receivable, as well as commercial leasing and letters of credit; treasury management services; and merchant credit card transaction processing services.