Capital City Bank Group (NASDAQ:CCBG) Hits New 1-Year High – Here’s Why

Capital City Bank Group (NASDAQ:CCBG) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $47.31 and last traded at $47.55, with a volume of 11153 shares traded. The stock had previously closed at $46.06.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CCBG. Zacks Research lowered Capital City Bank Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Wall Street Zen lowered Capital City Bank Group from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Capital One Financial set a $45.00 price objective on Capital City Bank Group in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods lowered Capital City Bank Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $47.00 to $45.00 in a research note on Wednesday, January 28th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Capital City Bank Group in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $45.00.

Capital City Bank Group Stock Up 1.7%

The firm has a 50-day moving average price of $43.48 and a 200 day moving average price of $42.63. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market cap of $803.23 million, a price-to-earnings ratio of 13.01 and a beta of 0.30.

Capital City Bank Group (NASDAQ:CCBG) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $0.80 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.09). Capital City Bank Group had a net margin of 21.47% and a return on equity of 11.55%. The firm had revenue of $63.46 million during the quarter, compared to analyst estimates of $64.65 million. Sell-side analysts predict that Capital City Bank Group will post 3.06 EPS for the current year.

Capital City Bank Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Monday, March 9th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, March 9th. This is a positive change from Capital City Bank Group’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 2.3%. Capital City Bank Group’s dividend payout ratio (DPR) is currently 30.00%.

Hedge Funds Weigh In On Capital City Bank Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of Capital City Bank Group by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 547,871 shares of the financial services provider’s stock valued at $23,323,000 after purchasing an additional 133,923 shares during the last quarter. Bank of America Corp DE grew its position in shares of Capital City Bank Group by 997.3% in the third quarter. Bank of America Corp DE now owns 192,495 shares of the financial services provider’s stock valued at $8,044,000 after purchasing an additional 174,953 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Capital City Bank Group by 45.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 86,575 shares of the financial services provider’s stock valued at $3,685,000 after purchasing an additional 26,999 shares during the last quarter. Bridgeway Capital Management LLC grew its position in shares of Capital City Bank Group by 5.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 75,193 shares of the financial services provider’s stock valued at $3,201,000 after purchasing an additional 3,584 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its position in shares of Capital City Bank Group by 2.5% in the fourth quarter. Panagora Asset Management Inc. now owns 73,506 shares of the financial services provider’s stock valued at $3,129,000 after purchasing an additional 1,796 shares during the last quarter. Institutional investors and hedge funds own 44.59% of the company’s stock.

Capital City Bank Group Company Profile

Capital City Bank Group, Inc is a Florida‐based bank holding company headquartered in Tallahassee. As the parent of Capital City Bank, it offers a full suite of financial services through a network of community banking offices. The company traces its origins to the late 19th century, reflecting more than a century of continuous operation in its home market.

Through its banking subsidiary, Capital City Bank Group provides retail and commercial banking products, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury management services.