Capital City Bank Group (NASDAQ:CCBG) Sets New 12-Month High - Here's What Happened

Key Points

• Capital City Bank Group stock hit a new 52-week high, trading as high as $47.31 and last at $47.55, and is trading above its 50- and 200-day moving averages ($43.41 / $42.59).
• Despite the rally, analysts have recently trimmed ratings and the consensus is a Hold with an average price target of $45.00, below the current share price.
• The company missed quarterly EPS estimates ($0.80 vs. $0.89) and slightly missed revenue, but raised its quarterly dividend to $0.27 (annualized $1.08, ~2.3% yield); CCBG trades at a P/E of ~13.0 with a market cap around $806M.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) shares hit a new 52-week high during trading on Friday . The company traded as high as $47.31 and last traded at $47.55, with a volume of 11153 shares trading hands. The stock had previously closed at $46.06.

Analyst Ratings Changes

Several research firms have issued reports on CCBG. Capital One Financial set a $45.00 price objective on Capital City Bank Group in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods lowered Capital City Bank Group from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $47.00 to $45.00 in a research note on Wednesday, January 28th. 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 restated a "buy (b)" rating on shares of Capital City Bank Group in a research note on Friday, March 27th. Finally, Zacks Research cut shares of Capital City Bank Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $45.00.

Capital City Bank Group Stock Performance

The company's fifty day simple moving average is $43.41 and its two-hundred day simple moving average is $42.59. The stock has a market capitalization of $805.84 million, a P/E ratio of 13.05 and a beta of 0.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.83.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.80 EPS 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 the consensus estimate of $64.65 million. As a group, equities analysts forecast that Capital City Bank Group will post 3.06 EPS for the current year.

Capital City Bank Group Increases Dividend

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

Institutional Investors Weigh In On Capital City Bank Group

Several institutional investors have recently made changes to their positions in CCBG. State of Alaska Department of Revenue bought a new position in shares of Capital City Bank Group in the third quarter worth $28,000. Quarry LP bought a new position in shares of Capital City Bank Group in the third quarter worth $38,000. CWM LLC increased its position in shares of Capital City Bank Group by 140.7% in the third quarter. CWM LLC now owns 2,270 shares of the financial services provider's stock worth $95,000 after purchasing an additional 1,327 shares during the period. SG Americas Securities LLC bought a new position in shares of Capital City Bank Group in the third quarter worth $122,000. Finally, Raymond James Financial Inc. bought a new position in shares of Capital City Bank Group in the second quarter worth $150,000. 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.

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