Capital City Bank Group (NASDAQ:CCBG) Hits New 52-Week High Following Dividend Announcement

Key Points

• Capital City Bank Group's stock reached a new52-week high at $43.74, with a trading volume of 32,410 shares.
• Analysts have mixed ratings, with Keefe, Bruyette & Woods raising their price objective to $45.00, while Wall Street Zen downgraded the stock from "buy" to "hold."
• The company reported quarterly earnings of $0.88 per share, surpassing analyst expectations and indicating a net margin of 20.86%.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) shares hit a new 52-week high during trading on Thursday after the company announced a dividend. The company traded as high as $43.74 and last traded at $43.74, with a volume of 32410 shares traded. The stock had previously closed at $43.39.

The newly announced dividend which will be paid on Monday, September 22nd. Shareholders of record on Monday, September 8th will be given a dividend of $0.26 per share. This is a boost from Capital City Bank Group's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, September 8th. This represents a $1.04 dividend on an annualized basis and a yield of 2.4%. Capital City Bank Group's dividend payout ratio is presently 28.07%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CCBG. Keefe, Bruyette & Woods lifted their price target on Capital City Bank Group from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Wall Street Zen downgraded Capital City Bank Group from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $45.00.

Capital City Bank Group Stock Performance

The firm's fifty day moving average price is $40.74 and its 200-day moving average price is $37.93. The firm has a market cap of $733.33 million, a price-to-earnings ratio of 12.61 and a beta of 0.39. 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 announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.05. Capital City Bank Group had a net margin of 20.86% and a return on equity of 11.56%. The company had revenue of $63.20 million during the quarter, compared to the consensus estimate of $62.35 million. During the same quarter in the prior year, the firm earned $0.83 EPS. Analysts expect that Capital City Bank Group will post 3.06 earnings per share for the current year.

Institutional Investors Weigh In On Capital City Bank Group

Several hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its position in Capital City Bank Group by 53.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 795 shares of the financial services provider's stock valued at $29,000 after buying an additional 277 shares in the last quarter. US Bancorp DE lifted its position in shares of Capital City Bank Group by 224.7% during the first quarter. US Bancorp DE now owns 1,143 shares of the financial services provider's stock worth $41,000 after purchasing an additional 791 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Capital City Bank Group by 30.9% during the fourth quarter. Lazard Asset Management LLC now owns 1,873 shares of the financial services provider's stock worth $68,000 after purchasing an additional 442 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Capital City Bank Group during the second quarter worth $150,000. Finally, Tower Research Capital LLC TRC raised its holdings in Capital City Bank Group by 1,282.5% in the second quarter. Tower Research Capital LLC TRC now owns 4,106 shares of the financial services provider's stock valued at $162,000 after acquiring an additional 3,809 shares in the last quarter. 44.59% of the stock is owned by institutional investors and hedge funds.

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.