Capital City Bank Group, Inc. (NASDAQ:CCBG) Announces Quarterly Dividend of $0.24

Capital City Bank Group, Inc. (NASDAQ:CCBG - Get Free Report) declared a quarterly dividend on Thursday, May 29th, RTT News reports. Stockholders of record on Monday, June 9th will be given a dividend of 0.24 per share by the financial services provider on Monday, June 23rd. This represents a $0.96 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Monday, June 9th.

Capital City Bank Group has increased its dividend payment by an average of 12.4% annually over the last three years and has increased its dividend every year for the last 11 years. Capital City Bank Group has a dividend payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Capital City Bank Group to earn $3.24 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 29.6%.

Capital City Bank Group Trading Down 0.5%

Shares of CCBG stock traded down $0.18 during trading hours on Friday, hitting $38.14. 29,090 shares of the company's stock traded hands, compared to its average volume of 29,363. The stock's 50 day simple moving average is $36.32 and its 200 day simple moving average is $36.78. The stock has a market cap of $650.48 million, a PE ratio of 12.22 and a beta of 0.33. Capital City Bank Group has a 12 month low of $25.45 and a 12 month high of $40.86. 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 - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.24. Capital City Bank Group had a net margin of 19.55% and a return on equity of 11.45%. The company had revenue of $61.45 million during the quarter, compared to analysts' expectations of $59.75 million. During the same period in the prior year, the company posted $0.74 earnings per share. On average, sell-side analysts anticipate that Capital City Bank Group will post 3.06 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Capital City Bank Group by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,175 shares of the financial services provider's stock valued at $294,000 after purchasing an additional 327 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Capital City Bank Group by 8.1% during the first quarter. Empowered Funds LLC now owns 28,079 shares of the financial services provider's stock valued at $1,010,000 after purchasing an additional 2,115 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Capital City Bank Group by 24.1% during the first quarter. AQR Capital Management LLC now owns 12,177 shares of the financial services provider's stock valued at $438,000 after purchasing an additional 2,362 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Capital City Bank Group during the first quarter valued at about $555,000. 44.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Capital City Bank Group from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st.

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.