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

Capital City Bank Group, Inc. (NASDAQ:CCBG)’s share price reached a new 52-week high during trading on Monday after the company announced a dividend. The company 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 given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Monday, December 9th. Capital City Bank Group’s dividend payout ratio is 30.16%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports 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 cut shares of Capital City Bank Group from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $30.00 to $34.00 in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Capital City Bank Group has a consensus rating of “Moderate Buy” and a consensus price target of $35.80.

Capital City Bank Group Stock Performance

The stock’s 50 day moving average price is $35.88 and its 200 day moving average price is $32.32. 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 company has a market capitalization of $669.46 million, a P/E ratio of 12.95 and a beta of 0.53.

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

Insiders Place Their Bets

In other news, Treasurer Thomas A. Barron sold 3,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were 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 owns 140,681 shares in the company, valued at $4,756,424.61. This represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 19.40% of the company’s stock.

Institutional Trading of Capital City Bank Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System bought a new position in Capital City Bank Group during the first quarter valued at about $585,000. Lazard Asset Management LLC grew its position in Capital City Bank Group by 22.3% during the first quarter. Lazard Asset Management LLC now owns 3,624 shares of the financial services provider’s stock valued at $100,000 after buying an additional 662 shares during the period. Janus Henderson Group PLC bought a new position in Capital City Bank Group during the first quarter worth about $284,000. Boston Partners boosted its position in 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 purchasing an additional 2,099 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Capital City Bank Group by 9.9% during the second quarter. Bank of New York Mellon Corp now owns 65,048 shares of the financial services provider’s stock worth $1,850,000 after purchasing an additional 5,878 shares during the period. 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.