Capital City Bank Group (NASDAQ:CCBG) Reaches New 52-Week High – Here’s Why

Capital City Bank Group, Inc. (NASDAQ:CCBG) shares reached a new 52-week high on Wednesday . The company traded as high as $36.95 and last traded at $36.95, with a volume of 127 shares. The stock had previously closed at $35.69.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. 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 report on Thursday, July 25th. Hovde Group lifted their price objective on shares of Capital City Bank Group from $30.00 to $37.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. Piper Sandler cut shares of Capital City Bank Group from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $30.00 to $34.00 in a research report on Monday, July 29th. Finally, StockNews.com upgraded shares of Capital City Bank Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Capital City Bank Group has an average rating of “Moderate Buy” and an average target price of $35.80.

Capital City Bank Group Price Performance

The company’s 50 day moving average price is $34.62 and its 200-day moving average price is $31.20. The company has a market cap of $660.49 million, a price-to-earnings ratio of 11.70 and a beta of 0.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.83 and a current ratio of 0.83.

Capital City Bank Group (NASDAQ:CCBG) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. Shareholders of record on Monday, September 9th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.36%. The ex-dividend date was Monday, September 9th. This is a positive change from Capital City Bank Group’s previous quarterly dividend of $0.21. Capital City Bank Group’s payout ratio is 30.16%.

Insider Buying and Selling at Capital City Bank Group

In other Capital City Bank Group news, Treasurer Thomas A. Barron sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $33.81, for a total value of $101,430.00. Following the sale, the treasurer now owns 140,681 shares of the company’s stock, valued at $4,756,424.61. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 19.40% of the company’s stock.

Institutional Investors Weigh In On Capital City Bank Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in shares of Capital City Bank Group by 1,482.3% in the 3rd quarter. Blue Trust Inc. now owns 4,193 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 3,928 shares during the last quarter. Inspire Investing LLC bought a new position in shares of Capital City Bank Group in the third quarter valued at $414,000. SG Americas Securities LLC bought a new position in Capital City Bank Group during the third quarter worth $184,000. Prospector Partners LLC boosted its position in Capital City Bank Group by 17.6% during the second quarter. Prospector Partners LLC now owns 32,685 shares of the financial services provider’s stock worth $930,000 after purchasing an additional 4,900 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Capital City Bank Group by 4.0% in the second quarter. Renaissance Technologies LLC now owns 206,871 shares of the financial services provider’s stock valued at $5,883,000 after acquiring an additional 8,000 shares during the period. 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.