Capital City Bank Group (NASDAQ:CCBG) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Capital City Bank Group's stock price crossed above its 200-day moving average with shares trading at $40.46, following a high of $40.71 during the day.
• Analysts have maintained a consensus "Buy" rating for Capital City Bank Group, with a price target of $45.00, and recent earnings exceeded estimates with an EPS of $0.88.
• The company recently declared a quarterly dividend of $0.24 per share, which reflects a 2.4% yield and a dividend payout ratio of 28.07%.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $37.59 and traded as high as $40.71. Capital City Bank Group shares last traded at $40.46, with a volume of 22,386 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CCBG shares. Wall Street Zen lowered Capital City Bank Group from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Keefe, Bruyette & Woods lifted their price target on Capital City Bank Group from $43.00 to $45.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $45.00.

Capital City Bank Group Stock Down 0.9%

The stock has a fifty day moving average of $40.07 and a 200 day moving average of $37.71. The firm has a market capitalization of $726.84 million, a P/E ratio of 12.45 and a beta of 0.41. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.83 and a quick ratio of 0.82.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.05. The firm had revenue of $63.20 million for the quarter, compared to analyst estimates of $62.35 million. Capital City Bank Group had a return on equity of 11.56% and a net margin of 20.86%.During the same period in the previous year, the company posted $0.83 earnings per share. On average, research analysts anticipate that Capital City Bank Group will post 3.06 EPS for the current fiscal year.

Capital City Bank Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Monday, June 9th were paid a $0.24 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. Capital City Bank Group's payout ratio is presently 28.07%.

Institutional Trading of Capital City Bank Group

Several hedge funds have recently made changes to their positions in CCBG. Wellington Management Group LLP raised its stake in shares of Capital City Bank Group by 43.6% in the fourth quarter. Wellington Management Group LLP now owns 230,744 shares of the financial services provider's stock valued at $8,457,000 after buying an additional 70,004 shares during the period. Murphy Middleton Hinkle & Parker Inc. raised its stake in shares of Capital City Bank Group by 38.6% in the first quarter. Murphy Middleton Hinkle & Parker Inc. now owns 160,191 shares of the financial services provider's stock valued at $5,760,000 after buying an additional 44,572 shares during the period. American Century Companies Inc. raised its stake in shares of Capital City Bank Group by 19.0% in the first quarter. American Century Companies Inc. now owns 257,804 shares of the financial services provider's stock valued at $9,271,000 after buying an additional 41,121 shares during the period. Nuveen LLC bought a new stake in shares of Capital City Bank Group in the first quarter valued at $1,199,000. Finally, Axecap Investments LLC bought a new stake in shares of Capital City Bank Group in the first quarter valued at $883,000. 44.59% of the stock is currently owned by institutional investors.

Capital City Bank Group Company Profile

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.