Capital City Bank Group (NASDAQ:CCBG) Reaches New 1-Year High After Dividend Announcement

Capital City Bank Group, Inc. (NASDAQ:CCBG) shares reached a new 52-week high during mid-day trading on Monday after the company announced a dividend. The stock 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. Investors of record on Monday, December 9th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.92 dividend on an annualized basis and a yield of 2.26%. Capital City Bank Group’s payout ratio is 30.16%.

Wall Street Analyst Weigh In

CCBG has been the subject of several research reports. StockNews.com upgraded shares of Capital City Bank Group from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Piper Sandler downgraded shares of Capital City Bank Group from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $30.00 to $34.00 in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.80.

Capital City Bank Group Price Performance

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

Capital City Bank Group (NASDAQ:CCBG) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The company had revenue of $68.84 million for the quarter, compared to the consensus estimate of $54.40 million. Capital City Bank Group had a net margin of 19.42% and a return on equity of 11.29%. Sell-side analysts predict that Capital City Bank Group, Inc. will post 3.05 EPS for the current year.

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 Capital City Bank Group stock in a transaction 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 completion of the sale, the treasurer now owns 140,681 shares of the company’s stock, valued at $4,756,424.61. This trade represents a 2.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 19.40% of the stock is owned by corporate insiders.

Institutional Trading of Capital City Bank Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCBG. State Board of Administration of Florida Retirement System acquired a new position in Capital City Bank Group in the 1st quarter worth $585,000. Lazard Asset Management LLC boosted its holdings in shares of Capital City Bank Group by 22.3% during the 1st 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. Janus Henderson Group PLC bought a new position in Capital City Bank Group in the 1st quarter valued at about $284,000. Boston Partners boosted its holdings in shares of Capital City Bank Group by 12.9% during the first 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 period. Finally, Bank of New York Mellon Corp grew its position in shares of Capital City Bank Group by 9.9% in 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 purchasing an additional 5,878 shares during the last quarter. 44.59% of the stock is owned by institutional investors.

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.