Panagora Asset Management Inc. Buys 2,093 Shares of Capital City Bank Group, Inc. (NASDAQ:CCBG)

Panagora Asset Management Inc. boosted its stake in Capital City Bank Group, Inc. (NASDAQ:CCBG) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,097 shares of the financial services provider’s stock after purchasing an additional 2,093 shares during the period. Panagora Asset Management Inc. owned about 0.46% of Capital City Bank Group worth $2,221,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Capital City Bank Group during the second quarter worth $211,000. Bank of New York Mellon Corp increased its holdings in Capital City Bank Group by 9.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 65,048 shares of the financial services provider’s stock worth $1,850,000 after purchasing an additional 5,878 shares in the last quarter. Boston Partners raised its position in 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. Janus Henderson Group PLC acquired a new stake in shares of Capital City Bank Group during the first quarter valued at about $284,000. Finally, Lazard Asset Management LLC grew its holdings in shares of Capital City Bank Group by 22.3% during the first quarter. Lazard Asset Management LLC now owns 3,624 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 662 shares during the last quarter. Institutional investors and hedge funds own 44.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CCBG shares. Keefe, Bruyette & Woods raised their price objective 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 lifted their price target 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 Capital City Bank Group from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $30.00 to $34.00 in a report on Monday, July 29th. 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 MarketBeat.com, Capital City Bank Group presently has an average rating of “Hold” and an average price target of $35.80.

Insider Activity

In related news, Treasurer Thomas A. Barron sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $35.26, for a total transaction of $282,080.00. Following the completion of the sale, the treasurer now owns 143,681 shares of the company’s stock, valued at $5,066,192.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 19.40% of the stock is owned by company insiders.

Capital City Bank Group Stock Up 0.6 %

Capital City Bank Group stock opened at $34.52 on Friday. The firm has a 50 day moving average price of $31.52 and a two-hundred day moving average price of $28.82. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.82 and a current ratio of 0.82. Capital City Bank Group, Inc. has a 52-week low of $25.45 and a 52-week high of $36.49. The firm has a market cap of $584.87 million, a price-to-earnings ratio of 11.24 and a beta of 0.55.

Capital City Bank Group (NASDAQ:CCBG) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.12. Capital City Bank Group had a net margin of 19.67% and a return on equity of 11.84%. The business had revenue of $58.88 million for the quarter, compared to analyst estimates of $55.15 million. Equities analysts predict that Capital City Bank Group, Inc. will post 2.99 EPS for the current year.

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.