StockNews.com Downgrades Capital City Bank Group (NASDAQ:CCBG) to Hold

StockNews.com downgraded shares of Capital City Bank Group (NASDAQ:CCBG) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

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

Capital City Bank Group Stock Performance

Shares of Capital City Bank Group stock opened at $38.39 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $34.86 and a 200 day simple moving average of $31.38. Capital City Bank Group has a fifty-two week low of $25.45 and a fifty-two week high of $39.58. The firm has a market cap of $650.33 million, a P/E ratio of 12.59 and a beta of 0.53.

Capital City Bank Group (NASDAQ:CCBG) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations 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. Investors of record on Monday, September 9th were issued a dividend of $0.23 per share. The ex-dividend date was Monday, September 9th. This represents a $0.92 dividend on an annualized basis and a yield of 2.40%. This is a boost from Capital City Bank Group’s previous quarterly dividend of $0.21. Capital City Bank Group’s payout ratio is currently 30.16%.

Insider Buying and Selling at Capital City Bank Group

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 transaction of $101,430.00. Following the sale, the treasurer now owns 140,681 shares of the company’s stock, valued at approximately $4,756,424.61. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 19.40% of the company’s stock.

Institutional Investors Weigh In On Capital City Bank Group

Several institutional investors have recently added to or reduced their stakes in CCBG. Connor Clark & Lunn Investment Management Ltd. bought a new position in Capital City Bank Group during the 3rd quarter worth about $323,000. Princeton Capital Management LLC boosted its position in shares of Capital City Bank Group by 7.0% during the third quarter. Princeton Capital Management LLC now owns 7,683 shares of the financial services provider’s stock worth $271,000 after buying an additional 500 shares during the period. Capital City Trust Co. FL grew its holdings in shares of Capital City Bank Group by 6.5% during the third quarter. Capital City Trust Co. FL now owns 150,680 shares of the financial services provider’s stock worth $5,318,000 after buying an additional 9,148 shares in the last quarter. Empowered Funds LLC raised its position in Capital City Bank Group by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 24,809 shares of the financial services provider’s stock valued at $876,000 after buying an additional 1,206 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Capital City Bank Group by 1,482.3% in the 3rd quarter. Blue Trust Inc. now owns 4,193 shares of the financial services provider’s stock valued at $148,000 after acquiring an additional 3,928 shares in the last quarter. 44.59% of the stock is owned by institutional investors.

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.