Capital City Bank Group (NASDAQ:CCBG) Hits New 12-Month High Following Dividend Announcement

Capital City Bank Group, Inc. (NASDAQ:CCBG)’s stock price hit a new 52-week high during 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 changing hands. The stock had previously closed at $39.12.

The newly announced dividend which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be given 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 dividend yield of 2.33%. Capital City Bank Group’s dividend payout ratio (DPR) is currently 30.16%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CCBG. StockNews.com upgraded shares of Capital City Bank Group from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Piper Sandler lowered shares of Capital City Bank Group from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $30.00 to $34.00 in a research report on Monday, July 29th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Capital City Bank Group currently has a consensus rating of “Moderate Buy” and an average price target of $35.80.

Capital City Bank Group Price Performance

The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The stock has a market cap of $669.46 million, a P/E ratio of 12.95 and a beta of 0.53. The firm’s fifty day moving average price is $35.88 and its 200-day moving average price is $32.32.

Capital City Bank Group (NASDAQ:CCBG) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate 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%. Analysts forecast that Capital City Bank Group, Inc. will post 3.05 earnings per share for the current year.

Insider Activity

In other news, Treasurer Thomas A. Barron sold 3,000 shares of Capital City Bank Group stock in a transaction dated 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 transaction, the treasurer now owns 140,681 shares of the company’s stock, valued at $4,756,424.61. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 19.40% of the company’s stock.

Hedge Funds Weigh In On Capital City Bank Group

Hedge funds have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System purchased a new position in Capital City Bank Group in the 1st quarter worth about $585,000. American Century Companies Inc. increased its position in shares of Capital City Bank Group by 40.9% during the 2nd quarter. American Century Companies Inc. now owns 112,545 shares of the financial services provider’s stock valued at $3,201,000 after purchasing an additional 32,671 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Capital City Bank Group by 9.9% during the 2nd 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. Panagora Asset Management Inc. increased its position in shares of Capital City Bank Group by 2.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 78,097 shares of the financial services provider’s stock valued at $2,221,000 after purchasing an additional 2,093 shares during the last quarter. Finally, Boston Partners increased its position in shares of Capital City Bank Group by 12.9% during the 1st quarter. Boston Partners now owns 18,365 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 2,099 shares during the last quarter. Hedge funds and other 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.