Capital City Bank Group (NASDAQ:CCBG) Hits New 52-Week High - Still a Buy?

Key Points

• Shares reached a new 52-week high of $46.83 (last around $46.79), up about 1.6%, with a market cap near $799M and trading above its 50- and 200-day moving averages.
• Analysts are mixed: MarketBeat shows a consensus Hold rating with a $45.00 target (below the current price), and the company recently missed quarterly estimates—EPS $0.80 vs. $0.89 expected and revenue $63.46M vs. $64.65M.
• Management increased the quarterly dividend to $0.27 (annualized $1.08), implying a ~2.3% yield and a 30% payout ratio.

Shares of Capital City Bank Group (NASDAQ:CCBG - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $46.83 and last traded at $46.7850, with a volume of 38641 shares trading hands. The stock had previously closed at $45.87.

Analysts Set New Price Targets

A number of research firms recently issued reports on CCBG. Wall Street Zen lowered Capital City Bank Group from a "hold" rating to a "sell" rating in a research note on Saturday, March 28th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Capital City Bank Group in a research note on Friday, March 27th. Keefe, Bruyette & Woods lowered Capital City Bank Group from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $47.00 to $45.00 in a research note on Wednesday, January 28th. Capital One Financial set a $45.00 price target on Capital City Bank Group in a research note on Wednesday, January 28th. Finally, Zacks Research lowered Capital City Bank Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $45.00.

Capital City Bank Group Trading Up 1.6%

The company has a market cap of $799.29 million, a PE ratio of 12.95 and a beta of 0.30. The business has a 50 day simple moving average of $42.94 and a two-hundred day simple moving average of $42.43. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.80 earnings per share for the quarter, missing analysts' consensus estimates of $0.89 by ($0.09). Capital City Bank Group had a return on equity of 11.55% and a net margin of 21.47%.The business had revenue of $63.46 million for the quarter, compared to analysts' expectations of $64.65 million. On average, analysts forecast that Capital City Bank Group will post 3.06 EPS for the current fiscal year.

Capital City Bank Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 9th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Capital City Bank Group's previous quarterly dividend of $0.26. Capital City Bank Group's dividend payout ratio is currently 30.00%.

Institutional Trading of Capital City Bank Group

A number of institutional investors and hedge funds have recently made changes to their positions in CCBG. AQR Capital Management LLC increased its holdings in shares of Capital City Bank Group by 24.1% during the 1st quarter. AQR Capital Management LLC now owns 12,177 shares of the financial services provider's stock worth $438,000 after buying an additional 2,362 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Capital City Bank Group by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,175 shares of the financial services provider's stock worth $294,000 after buying an additional 327 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Capital City Bank Group by 8.1% during the 1st quarter. Empowered Funds LLC now owns 28,079 shares of the financial services provider's stock worth $1,010,000 after buying an additional 2,115 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Capital City Bank Group during the 1st quarter worth $555,000. Finally, Rhumbline Advisers increased its holdings in shares of Capital City Bank Group by 4.7% during the 2nd quarter. Rhumbline Advisers now owns 21,994 shares of the financial services provider's stock worth $865,000 after buying an additional 982 shares during the last quarter. 44.59% of the stock is currently owned by institutional investors and hedge funds.

Capital City Bank Group Company Profile

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.

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