Capital City Bank Group, Inc. (NASDAQ:CCBG) Sees Significant Decline in Short Interest

Capital City Bank Group, Inc. (NASDAQ:CCBG) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 45,200 shares, a drop of 12.1% from the October 15th total of 51,400 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily volume of 29,300 shares, the short-interest ratio is presently 1.5 days.

Insider Activity at Capital City Bank Group

In other news, Treasurer Thomas A. Barron sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $33.81, for a total value of $101,430.00. Following the completion of the sale, the treasurer now directly owns 140,681 shares in the company, valued at approximately $4,756,424.61. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 19.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CCBG. Wellington Management Group LLP purchased a new position in Capital City Bank Group in the third quarter worth about $5,673,000. American Century Companies Inc. increased its stake 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 worth $3,201,000 after purchasing an additional 32,671 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in Capital City Bank Group in the first quarter worth about $585,000. Barclays PLC grew its stake in shares of Capital City Bank Group by 46.8% during the 3rd quarter. Barclays PLC now owns 53,402 shares of the financial services provider’s stock valued at $1,883,000 after acquiring an additional 17,022 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Capital City Bank Group by 7.2% in the second quarter. Acadian Asset Management LLC now owns 175,117 shares of the financial services provider’s stock worth $4,978,000 after purchasing an additional 11,742 shares during the period. 44.59% of the stock is currently owned by institutional investors.

Capital City Bank Group Stock Performance

NASDAQ:CCBG traded down $0.24 during trading hours on Friday, reaching $38.34. The stock had a trading volume of 25,354 shares, compared to its average volume of 31,688. The stock has a market cap of $649.63 million, a P/E ratio of 12.57 and a beta of 0.53. Capital City Bank Group has a 12-month low of $25.45 and a 12-month high of $40.08. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a 50 day simple moving average of $35.32 and a 200 day simple moving average of $31.78.

Capital City Bank Group (NASDAQ:CCBG) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The business had revenue of $68.84 million for the quarter, compared to analysts’ expectations of $54.40 million. Capital City Bank Group had a net margin of 19.42% and a return on equity of 11.29%.

Capital City Bank Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were given a $0.23 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.92 annualized dividend and a dividend yield of 2.40%. This is a positive change from Capital City Bank Group’s previous quarterly dividend of $0.21. Capital City Bank Group’s dividend payout ratio is currently 30.16%.

Analyst Ratings Changes

Several brokerages have commented on CCBG. Hovde Group raised their target price on shares of Capital City Bank Group from $30.00 to $37.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Piper Sandler downgraded shares of Capital City Bank Group from an “overweight” rating to a “neutral” rating and raised their price target for the company from $30.00 to $34.00 in a research note on Monday, July 29th. Keefe, Bruyette & Woods raised their target price on Capital City Bank Group from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, StockNews.com raised Capital City Bank Group from a “hold” rating to a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.80.

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.