Capital City Bank Group (NASDAQ:CCBG) Stock Rating Upgraded by 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 morning.

Several other research firms have also recently weighed in on CCBG. Hovde Group boosted their price objective on Capital City Bank Group from $30.00 to $37.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. Piper Sandler lowered Capital City Bank Group from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $30.00 to $34.00 in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.80.

Capital City Bank Group Trading Down 0.6 %

NASDAQ:CCBG opened at $38.34 on Thursday. The company’s 50 day moving average is $35.32 and its 200-day moving average is $31.78. 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 has a 12 month low of $25.45 and a 12 month high of $40.08. The firm has a market cap of $649.63 million, a price-to-earnings ratio of 12.57 and a beta of 0.53.

Capital City Bank Group (NASDAQ:CCBG) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $68.84 million for the quarter, compared to the consensus estimate of $54.40 million.

Capital City Bank Group Increases Dividend

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

Insider Activity

In related news, Treasurer Thomas A. Barron sold 3,000 shares of the firm’s 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 completion of the transaction, the treasurer now directly owns 140,681 shares of the company’s stock, valued at $4,756,424.61. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 19.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Capital City Bank Group

A number of hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP bought a new stake in Capital City Bank Group in the third quarter valued at about $5,673,000. American Century Companies Inc. boosted its holdings in Capital City Bank Group by 40.9% during the second quarter. American Century Companies Inc. now owns 112,545 shares of the financial services provider’s stock valued at $3,201,000 after purchasing an additional 32,671 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Capital City Bank Group in the 1st quarter valued at approximately $585,000. Barclays PLC raised its holdings in shares of Capital City Bank Group by 46.8% in the 3rd quarter. Barclays PLC now owns 53,402 shares of the financial services provider’s stock worth $1,883,000 after buying an additional 17,022 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Capital City Bank Group by 7.2% during the 2nd quarter. Acadian Asset Management LLC now owns 175,117 shares of the financial services provider’s stock worth $4,978,000 after buying an additional 11,742 shares during the period. Institutional investors and hedge funds own 44.59% of the company’s stock.

Capital City Bank Group Company Profile

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.