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

Capital City Bank Group (NASDAQ:CCBG)’s stock price reached a new 52-week high on Monday . The company traded as high as $52.46 and last traded at $52.4410, with a volume of 14971 shares changing hands. The stock had previously closed at $51.60.

Wall Street Analyst Weigh In

CCBG has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Capital City Bank Group in a research report on Wednesday, June 24th. Capital One Financial set a $49.50 target price on shares of Capital City Bank Group in a research note on Tuesday, April 21st. Brean Capital cut shares of Capital City Bank Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 21st. Wall Street Zen upgraded Capital City Bank Group from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Keefe, Bruyette & Woods lifted their price objective on Capital City Bank Group from $52.00 to $54.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $51.75.

Capital City Bank Group Trading Up 1.5%

The firm’s 50 day simple moving average is $48.10 and its two-hundred day simple moving average is $45.50. The stock has a market capitalization of $903.62 million, a P/E ratio of 14.68 and a beta of 0.31. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.06.

Capital City Bank Group (NASDAQ:CCBG) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The company had revenue of $64.80 million for the quarter, compared to analysts’ expectations of $64.25 million. Capital City Bank Group had a net margin of 21.37% and a return on equity of 11.20%. As a group, analysts forecast that Capital City Bank Group will post 3.69 earnings per share 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 15th. Investors of record on Monday, June 1st were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, June 1st. Capital City Bank Group’s dividend payout ratio is 30.00%.

Institutional Investors Weigh In On Capital City Bank Group

A number of hedge funds have recently added to or reduced their stakes in CCBG. Dimensional Fund Advisors LP increased its holdings in shares of Capital City Bank Group by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 882,114 shares of the financial services provider’s stock valued at $38,337,000 after acquiring an additional 3,468 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Capital City Bank Group by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 547,871 shares of the financial services provider’s stock worth $23,323,000 after purchasing an additional 133,923 shares in the last quarter. Bank of America Corp DE grew its position in Capital City Bank Group by 997.3% in the 3rd 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 period. Renaissance Technologies LLC grew its position in Capital City Bank Group by 6.3% in the 1st quarter. Renaissance Technologies LLC now owns 174,871 shares of the financial services provider’s stock valued at $7,600,000 after purchasing an additional 10,400 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Capital City Bank Group by 45.3% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 44.59% of the company’s stock.

About Capital City Bank Group

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.