Capital City Bank Group (NASDAQ:CCBG) Downgraded to “Hold” Rating by StockNews.com

StockNews.com cut shares of Capital City Bank Group (NASDAQ:CCBG) from a buy rating to a hold rating in a research note released on Wednesday morning.

A number of other research analysts have also recently weighed in on the stock. Hovde Group lifted their price objective on shares of Capital City Bank Group from $30.00 to $37.00 and gave the company a “market perform” rating in a report on Wednesday, July 24th. Piper Sandler cut shares of Capital City Bank Group from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $30.00 to $34.00 in a report 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 company an “outperform” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $35.80.

Capital City Bank Group Stock Performance

Shares of NASDAQ CCBG traded up $0.40 during midday trading on Wednesday, reaching $38.39. The company had a trading volume of 32,732 shares, compared to its average volume of 31,514. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.12. The business’s 50-day simple moving average is $34.86 and its 200 day simple moving average is $31.38. Capital City Bank Group has a 1 year low of $25.45 and a 1 year high of $39.58. The stock has a market cap of $650.48 million, a P/E ratio of 12.59 and a beta of 0.53.

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

Capital City Bank Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, September 9th. This is a positive change 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%. Capital City Bank Group’s payout ratio is presently 30.16%.

Insider Buying and Selling

In other Capital City Bank Group news, Treasurer Thomas A. Barron sold 3,000 shares of Capital City Bank Group stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $33.81, for a total transaction of $101,430.00. Following the transaction, the treasurer now directly owns 140,681 shares of the company’s stock, valued at $4,756,424.61. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 19.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Capital City Bank Group

A number of institutional investors and hedge funds have recently made changes to their positions in CCBG. Heartland Advisors Inc. raised its stake in shares of Capital City Bank Group by 9.6% in the 1st quarter. Heartland Advisors Inc. now owns 608,610 shares of the financial services provider’s stock valued at $16,858,000 after acquiring an additional 53,450 shares during the period. Isthmus Partners LLC grew its holdings in Capital City Bank Group by 50.3% during the 1st quarter. Isthmus Partners LLC now owns 107,583 shares of the financial services provider’s stock worth $2,980,000 after acquiring an additional 35,997 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Capital City Bank Group by 40.9% in the 2nd quarter. American Century Companies Inc. now owns 112,545 shares of the financial services provider’s stock valued at $3,201,000 after buying an additional 32,671 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of Capital City Bank Group in the 1st quarter valued at $585,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of Capital City Bank Group by 7.2% in the 2nd quarter. Acadian Asset Management LLC now owns 175,117 shares of the financial services provider’s stock valued at $4,978,000 after buying an additional 11,742 shares in the last quarter. 44.59% of the stock is owned by hedge funds and other 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.