Capital City Bank Group (NASDAQ:CCBG) Sets New 12-Month High Following Dividend Announcement

Capital City Bank Group, Inc. (NASDAQ:CCBG) shares hit a new 52-week high during trading on Monday following a dividend announcement from the company. The company traded as high as $40.86 and last traded at $40.39, with a volume of 1827 shares trading hands. The stock had previously closed at $39.12.

The newly announced dividend which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.92 annualized dividend and a yield of 2.26%. Capital City Bank Group’s dividend payout ratio is currently 30.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CCBG shares. Piper Sandler downgraded Capital City Bank Group from an “overweight” rating to a “neutral” rating and raised their target price for the company from $30.00 to $34.00 in a report on Monday, July 29th. StockNews.com raised shares of Capital City Bank Group from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.80.

Capital City Bank Group Stock Performance

The company has a market capitalization of $690.98 million, a P/E ratio of 12.99 and a beta of 0.53. The stock’s 50 day moving average price is $35.79 and its 200 day moving average price is $32.24. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.84.

Capital City Bank Group (NASDAQ:CCBG) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.77 by $0.01. Capital City Bank Group had a return on equity of 11.29% and a net margin of 19.42%. The firm had revenue of $68.84 million during the quarter, compared to the consensus estimate of $54.40 million. As a group, equities analysts expect that Capital City Bank Group, Inc. will post 3.05 EPS for the current year.

Insider Buying and Selling

In related news, Treasurer Thomas A. Barron sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $33.81, for a total transaction of $101,430.00. Following the sale, the treasurer now directly owns 140,681 shares in the company, valued at approximately $4,756,424.61. This represents a 2.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 19.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Capital City Bank Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System purchased a new position in shares of Capital City Bank Group during the 1st quarter valued at $585,000. American Century Companies Inc. boosted its position in Capital City Bank Group by 40.9% during the second 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 during the period. Bank of New York Mellon Corp grew its stake in shares of Capital City Bank Group by 9.9% during the second quarter. Bank of New York Mellon Corp now owns 65,048 shares of the financial services provider’s stock valued at $1,850,000 after buying an additional 5,878 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Capital City Bank Group by 2.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 78,097 shares of the financial services provider’s stock valued at $2,221,000 after acquiring an additional 2,093 shares during the period. Finally, Boston Partners grew its position in Capital City Bank Group by 12.9% during the 1st quarter. Boston Partners now owns 18,365 shares of the financial services provider’s stock worth $509,000 after acquiring an additional 2,099 shares during the last quarter. Institutional investors own 44.59% of the company’s stock.

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.