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

Capital City Bank Group, Inc. (NASDAQ:CCBG) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 60,100 shares, a drop of 45.7% from the July 15th total of 110,600 shares. Based on an average trading volume of 36,700 shares, the short-interest ratio is currently 1.6 days. Currently, 0.4% of the shares of the company are sold short.

Capital City Bank Group Price Performance

NASDAQ:CCBG traded up $0.85 during trading hours on Thursday, reaching $32.23. 27,374 shares of the company’s stock were exchanged, compared to its average volume of 32,313. The company has a market capitalization of $546.07 million, a P/E ratio of 10.22 and a beta of 0.55. Capital City Bank Group has a 12 month low of $25.45 and a 12 month high of $36.49. The business’s 50-day simple moving average is $29.98 and its two-hundred day simple moving average is $28.42. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.12.

Capital City Bank Group (NASDAQ:CCBG) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. Capital City Bank Group had a return on equity of 11.84% and a net margin of 19.67%. The business had revenue of $58.88 million for the quarter, compared to analysts’ expectations of $55.15 million. Sell-side analysts expect that Capital City Bank Group will post 2.99 EPS for the current fiscal year.

Capital City Bank Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, June 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.61%. Capital City Bank Group’s dividend payout ratio is currently 27.36%.

Insiders Place Their Bets

In other news, Treasurer Thomas A. Barron sold 8,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $35.26, for a total transaction of $282,080.00. Following the completion of the transaction, the treasurer now owns 143,681 shares of the company’s stock, valued at $5,066,192.06. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 19.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Capital City Bank Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCBG. Lazard Asset Management LLC boosted its position in shares of Capital City Bank Group by 22.3% in the first quarter. Lazard Asset Management LLC now owns 3,624 shares of the financial services provider’s stock worth $100,000 after buying an additional 662 shares during the period. Princeton Capital Management LLC purchased a new position in Capital City Bank Group during the 2nd quarter valued at about $204,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Capital City Bank Group in the 2nd quarter valued at about $211,000. Los Angeles Capital Management LLC purchased a new stake in shares of Capital City Bank Group in the fourth quarter worth approximately $272,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Capital City Bank Group during the first quarter worth approximately $284,000. Institutional investors and hedge funds own 44.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CCBG shares. Piper Sandler lowered shares of Capital City Bank Group from an “overweight” rating to a “neutral” rating and increased their target price for the company from $30.00 to $34.00 in a research report on Monday, July 29th. Hovde Group upped their target price on 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. Finally, Keefe, Bruyette & Woods increased their price target on Capital City Bank Group from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.