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

StockNews.com downgraded shares of Capital City Bank Group (NASDAQ:CCBG) 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.

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) 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

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.