Capital City Bank Group (NASDAQ:CCBG) Sets New 12-Month High – Here’s What Happened

Capital City Bank Group (NASDAQ:CCBG)’s share price hit a new 52-week high on Friday . The company traded as high as $47.31 and last traded at $47.55, with a volume of 11153 shares traded. The stock had previously closed at $46.06.

Wall Street Analyst Weigh In

CCBG has been the subject of a number of recent analyst reports. Zacks Research downgraded shares of Capital City Bank Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Capital City Bank Group in a research note on Friday, March 27th. Capital One Financial set a $45.00 price target on Capital City Bank Group in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods lowered Capital City Bank Group from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $47.00 to $45.00 in a research note on Wednesday, January 28th. Finally, Wall Street Zen lowered Capital City Bank Group from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Capital City Bank Group currently has a consensus rating of “Hold” and an average target price of $45.00.

Capital City Bank Group Price Performance

The stock has a market cap of $805.84 million, a P/E ratio of 13.05 and a beta of 0.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.83 and a quick ratio of 0.82. The business’s fifty day moving average price is $43.41 and its 200 day moving average price is $42.59.

Capital City Bank Group (NASDAQ:CCBG) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.09). The company had revenue of $63.46 million for the quarter, compared to the consensus estimate of $64.65 million. Capital City Bank Group had a return on equity of 11.55% and a net margin of 21.47%. Sell-side analysts forecast that Capital City Bank Group will post 3.06 EPS for the current fiscal year.

Capital City Bank Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 9th were given a $0.27 dividend. This is a boost from Capital City Bank Group’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, March 9th. Capital City Bank Group’s dividend payout ratio is 30.00%.

Institutional Investors Weigh In On Capital City Bank Group

A number of institutional investors have recently added to or reduced their stakes in CCBG. Bank of America Corp DE increased its position in Capital City Bank Group by 997.3% in the 3rd quarter. Bank of America Corp DE now owns 192,495 shares of the financial services provider’s stock valued at $8,044,000 after acquiring an additional 174,953 shares during the period. Wellington Management Group LLP grew its stake in shares of Capital City Bank Group by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 547,871 shares of the financial services provider’s stock worth $23,323,000 after purchasing an additional 133,923 shares during the last quarter. Teton Advisors LLC bought a new stake in shares of Capital City Bank Group in the third quarter worth $2,988,000. Millennium Management LLC grew its stake in shares of Capital City Bank Group by 667.3% in the third quarter. Millennium Management LLC now owns 44,541 shares of the financial services provider’s stock worth $1,861,000 after purchasing an additional 38,736 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Capital City Bank Group by 45.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 86,575 shares of the financial services provider’s stock worth $3,685,000 after purchasing an additional 26,999 shares during the last quarter. 44.59% of the stock is owned by institutional investors.

About Capital City Bank Group

Capital City Bank Group, Inc is a Florida‐based bank holding company headquartered in Tallahassee. As the parent of Capital City Bank, it offers a full suite of financial services through a network of community banking offices. The company traces its origins to the late 19th century, reflecting more than a century of continuous operation in its home market.

Through its banking subsidiary, Capital City Bank Group provides retail and commercial banking products, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury management services.