Acadian Asset Management LLC Has $4.98 Million Stock Holdings in Capital City Bank Group, Inc. (NASDAQ:CCBG)

Acadian Asset Management LLC grew its position in Capital City Bank Group, Inc. (NASDAQ:CCBG) by 7.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,117 shares of the financial services provider’s stock after purchasing an additional 11,742 shares during the period. Acadian Asset Management LLC’s holdings in Capital City Bank Group were worth $4,978,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System purchased a new stake in shares of Capital City Bank Group in the first quarter valued at about $585,000. BNP Paribas Financial Markets raised its holdings in shares of Capital City Bank Group by 30.5% in the fourth quarter. BNP Paribas Financial Markets now owns 14,999 shares of the financial services provider’s stock valued at $441,000 after purchasing an additional 3,504 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Capital City Bank Group by 2.8% in the second quarter. Panagora Asset Management Inc. now owns 78,097 shares of the financial services provider’s stock valued at $2,221,000 after purchasing an additional 2,093 shares during the last quarter. Boston Partners raised its holdings in shares of Capital City Bank Group by 12.9% in the first quarter. Boston Partners now owns 18,365 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 2,099 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Capital City Bank Group by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 850,987 shares of the financial services provider’s stock valued at $25,046,000 after purchasing an additional 8,266 shares during the last quarter. Hedge funds and other institutional investors own 44.59% of the company’s stock.

Capital City Bank Group Stock Performance

NASDAQ CCBG opened at $33.40 on Thursday. Capital City Bank Group, Inc. has a 52-week low of $25.45 and a 52-week high of $36.49. The company has a 50-day simple moving average of $32.53 and a 200 day simple moving average of $29.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $565.90 million, a PE ratio of 10.88 and a beta of 0.53.

Capital City Bank Group (NASDAQ:CCBG) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. The firm had revenue of $58.88 million during the quarter, compared to analyst estimates of $55.15 million. Capital City Bank Group had a net margin of 19.67% and a return on equity of 11.67%.

Capital City Bank Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Monday, September 9th. This is a positive change from Capital City Bank Group’s previous quarterly dividend of $0.21. Capital City Bank Group’s dividend payout ratio (DPR) is currently 29.97%.

Wall Street Analyst Weigh In

Several analysts have recently commented on CCBG shares. Keefe, Bruyette & Woods increased their target price on shares of Capital City Bank Group from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Hovde Group raised 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 report on Wednesday, July 24th. Finally, Piper Sandler downgraded shares of Capital City Bank Group from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $30.00 to $34.00 in a report on Monday, July 29th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $35.80.

Insiders Place Their Bets

In other Capital City Bank Group news, Treasurer Thomas A. Barron sold 8,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $35.26, for a total transaction of $282,080.00. Following the completion of the transaction, the treasurer now owns 143,681 shares in the company, valued at $5,066,192.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 19.40% 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.