Capital City Bank Group (NASDAQ:CCBG) Stock Rating Upgraded by Zacks Investment Research

Capital City Bank Group (NASDAQ:CCBG) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The firm currently has a $32.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.01% from the stock’s previous close.

According to Zacks, “Capital City Bank Group, Inc. is a financial holding company with banking subsidiaries and numerous indirect subsidiaries. The Banks are full service banks, engaged in the commercial and retail banking business, including accepting demand, savings and time deposits; extending credit; originating residential mortgage loans; and providing data processing services, asset management services, trust services, retail brokerage services and a broad range of other financial services to corporate and individual customers, governmental entities and correspondent banks. “

A number of other research firms have also weighed in on CCBG. BidaskClub lowered Capital City Bank Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Hovde Group cut Capital City Bank Group from an “outperform” rating to a “market perform” rating and set a $30.00 price objective for the company. in a research note on Monday, September 23rd. Finally, ValuEngine raised Capital City Bank Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $29.00.

Shares of NASDAQ CCBG traded down $0.08 on Thursday, reaching $28.57. 18,354 shares of the company’s stock traded hands, compared to its average volume of 26,101. Capital City Bank Group has a 12 month low of $21.04 and a 12 month high of $30.85. The business’s 50 day simple moving average is $28.96 and its two-hundred day simple moving average is $25.99. The company has a market cap of $478.52 million, a price-to-earnings ratio of 21.98 and a beta of 0.70. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19.

Capital City Bank Group (NASDAQ:CCBG) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.05. Capital City Bank Group had a net margin of 18.76% and a return on equity of 9.35%. The firm had revenue of $40.10 million during the quarter, compared to analyst estimates of $39.40 million. Analysts forecast that Capital City Bank Group will post 1.67 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP bought a new stake in Capital City Bank Group during the 1st quarter valued at about $293,000. Strs Ohio grew its holdings in shares of Capital City Bank Group by 2.5% during the second quarter. Strs Ohio now owns 24,700 shares of the financial services provider’s stock valued at $613,000 after buying an additional 600 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of Capital City Bank Group during the second quarter valued at approximately $386,000. Capital City Trust Co. FL bought a new stake in shares of Capital City Bank Group during the second quarter valued at approximately $216,000. Finally, Wells Fargo & Company MN increased its position in shares of Capital City Bank Group by 20.1% during the second quarter. Wells Fargo & Company MN now owns 44,502 shares of the financial services provider’s stock valued at $1,106,000 after acquiring an additional 7,456 shares in the last quarter. 40.87% of the stock is currently owned by institutional investors.

About Capital City Bank Group

Capital City Bank Group, Inc operates as the bank holding company for Capital City Bank that provides a range of banking and banking-related services to individual and corporate clients in Florida, Georgia, and Alabama. It 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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