Capital City Bank Group (NASDAQ:CCBG) Cut to “Hold” at StockNews.com

by · The Markets Daily

StockNews.com downgraded shares of Capital City Bank Group (NASDAQ:CCBG – Free Report) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Other analysts have also issued reports about the stock. Keefe, Bruyette & Woods increased 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 report on Thursday, July 25th. Hovde Group increased their price objective on shares of 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. Finally, Piper Sandler lowered shares of Capital City Bank Group from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $30.00 to $34.00 in a research report on Monday, July 29th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $35.80.

Check Out Our Latest Stock Analysis on Capital City Bank Group

Capital City Bank Group Price Performance

Shares of NASDAQ CCBG traded up $0.40 during mid-day trading on Wednesday, hitting $38.39. 32,732 shares of the company’s stock traded hands, compared to its average volume of 31,514. The company’s 50-day moving average is $34.86 and its two-hundred day moving average is $31.38. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $650.48 million, a P/E ratio of 12.59 and a beta of 0.53. Capital City Bank Group has a 1 year low of $25.45 and a 1 year high of $39.58.

Capital City Bank Group (NASDAQ:CCBG – Get Free Report) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.01. The firm had revenue of $68.84 million for the quarter, compared to analysts’ expectations of $54.40 million. Capital City Bank Group had a net margin of 19.42% and a return on equity of 11.45%.

Capital City Bank Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were paid a $0.23 dividend. 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%. The ex-dividend date was Monday, September 9th. Capital City Bank Group’s dividend payout ratio is currently 30.16%.

Insiders Place Their Bets

In other Capital City Bank Group news, Treasurer Thomas A. Barron sold 3,000 shares of the company’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 transaction, the treasurer now directly owns 140,681 shares in the company, valued at $4,756,424.61. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 19.40% of the company’s stock.

Hedge Funds Weigh In On Capital City Bank Group

A number of hedge funds have recently added to or reduced their stakes in CCBG. BNP Paribas Financial Markets boosted its stake in shares of Capital City Bank Group by 23.5% during the first quarter. BNP Paribas Financial Markets now owns 18,518 shares of the financial services provider’s stock valued at $513,000 after purchasing an additional 3,519 shares in the last quarter. Heartland Advisors Inc. boosted its stake in shares of Capital City Bank Group by 9.6% during the first quarter. Heartland Advisors Inc. now owns 608,610 shares of the financial services provider’s stock valued at $16,858,000 after purchasing an additional 53,450 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Capital City Bank Group by 9.1% during the first quarter. Russell Investments Group Ltd. now owns 95,391 shares of the financial services provider’s stock valued at $2,642,000 after purchasing an additional 7,937 shares in the last quarter. Isthmus Partners LLC boosted its stake in shares of Capital City Bank Group by 50.3% during the first quarter. Isthmus Partners LLC now owns 107,583 shares of the financial services provider’s stock valued at $2,980,000 after purchasing an additional 35,997 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Capital City Bank Group during the first quarter valued at approximately $585,000. 44.59% of the stock is currently owned by institutional investors.

About Capital City Bank Group

(Get Free Report)

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.

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