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 research note issued to investors on Thursday.

Other analysts have also recently issued research reports about the stock. Piper Sandler cut shares of Capital City Bank Group from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $30.00 to $34.00 in a research note on Monday, July 29th. Hovde Group increased their price target on Capital City Bank Group from $30.00 to $37.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods lifted their price objective on Capital City Bank Group from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $35.80.

Capital City Bank Group Price Performance

NASDAQ:CCBG opened at $38.34 on Thursday. The stock has a market cap of $649.48 million, a PE ratio of 12.57 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. The business’s 50-day simple moving average is $35.32 and its two-hundred day simple moving average is $31.85. Capital City Bank Group has a 52 week low of $25.45 and a 52 week high of $40.08.

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

Capital City Bank Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were given a dividend of $0.23 per share. The ex-dividend date was Monday, September 9th. This is an increase from Capital City Bank Group’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 2.40%. Capital City Bank Group’s dividend payout ratio is 30.16%.

Insider Transactions at Capital City Bank Group

In other news, Treasurer Thomas A. Barron sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $33.81, for a total value of $101,430.00. Following the completion of the sale, the treasurer now owns 140,681 shares in the company, valued at approximately $4,756,424.61. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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 bought and sold shares of CCBG. State Board of Administration of Florida Retirement System bought a new position in shares of Capital City Bank Group in the first quarter worth about $585,000. American Century Companies Inc. grew its stake in Capital City Bank Group by 40.9% in the 2nd quarter. American Century Companies Inc. now owns 112,545 shares of the financial services provider’s stock worth $3,201,000 after acquiring an additional 32,671 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Capital City Bank Group by 2.8% during the second quarter. Panagora Asset Management Inc. now owns 78,097 shares of the financial services provider’s stock worth $2,221,000 after acquiring an additional 2,093 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Capital City Bank Group by 9.9% during the second quarter. Bank of New York Mellon Corp now owns 65,048 shares of the financial services provider’s stock valued at $1,850,000 after acquiring an additional 5,878 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of Capital City Bank Group by 12.9% in the first quarter. Boston Partners now owns 18,365 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 2,099 shares during the period. Hedge funds and other 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.