Capital City Bank Group (NASDAQ:CCBG) Reaches New 52-Week High – What’s Next?

Capital City Bank Group (NASDAQ:CCBG) shares reached a new 52-week high on Wednesday . The stock traded as high as $45.98 and last traded at $45.8950, with a volume of 39981 shares traded. The stock had previously closed at $43.97.

Analysts Set New Price Targets

CCBG has been the subject of a number of recent analyst reports. Zacks Research raised Capital City Bank Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Capital City Bank Group in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $45.00.

Capital City Bank Group Stock Performance

The firm has a market cap of $784.88 million, a P/E ratio of 12.88 and a beta of 0.36. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average of $42.69 and a 200-day moving average of $41.86.

Capital City Bank Group (NASDAQ:CCBG) last issued its earnings results on Tuesday, October 21st. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.06. Capital City Bank Group had a net margin of 21.50% and a return on equity of 11.75%. The company had revenue of $65.89 million for the quarter, compared to analyst estimates of $64.30 million. During the same quarter last year, the firm earned $0.78 EPS. Research analysts predict that Capital City Bank Group will post 3.06 earnings per share for the current fiscal year.

Capital City Bank Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, December 1st. Capital City Bank Group’s payout ratio is currently 29.13%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its holdings in Capital City Bank Group by 45.2% in the third quarter. Wellington Management Group LLP now owns 413,948 shares of the financial services provider’s stock valued at $17,299,000 after purchasing an additional 128,926 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Capital City Bank Group by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 333,319 shares of the financial services provider’s stock valued at $13,118,000 after acquiring an additional 5,186 shares during the last quarter. American Century Companies Inc. raised its position in shares of Capital City Bank Group by 13.8% in the 2nd quarter. American Century Companies Inc. now owns 293,407 shares of the financial services provider’s stock valued at $11,546,000 after acquiring an additional 35,603 shares during the period. Bank of America Corp DE boosted its stake in Capital City Bank Group by 997.3% during the 3rd quarter. Bank of America Corp DE now owns 192,495 shares of the financial services provider’s stock worth $8,044,000 after acquiring an additional 174,953 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Capital City Bank Group by 1.9% during the second quarter. Russell Investments Group Ltd. now owns 102,106 shares of the financial services provider’s stock valued at $4,018,000 after purchasing an additional 1,935 shares during the period. 44.59% of the stock is currently owned by institutional investors.

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.