Capital City Bank Group (NASDAQ:CCBG) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• Capital City Bank Group's (NASDAQ:CCBG) stock recently surpassed its 200-day moving average, trading as high as $43.42 before closing at $42.67.
• Analysts remain optimistic, with a recent upgrade from Keefe, Bruyette & Woods, raising the target price to $45.00, reflecting a consensus average rating of "Buy".
• The company has increased its quarterly dividend from $0.24 to $0.26, with a current yield of 2.4% and a payout ratio of 30.41%.

Shares of Capital City Bank Group (NASDAQ:CCBG - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $39.16 and traded as high as $43.42. Capital City Bank Group shares last traded at $42.67, with a volume of 59,641 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Capital City Bank Group from $43.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Weiss Ratings restated a "buy (b)" rating on shares of Capital City Bank Group in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $45.00.

Capital City Bank Group Stock Down 0.9%

The firm's fifty day moving average price is $41.97 and its 200-day moving average price is $39.16. The company has a market capitalization of $728.38 million, a price-to-earnings ratio of 12.48 and a beta of 0.35. 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, topping analysts' consensus estimates of $0.83 by $0.05. Capital City Bank Group had a return on equity of 11.56% and a net margin of 20.86%.The business had revenue of $63.20 million during the quarter, compared to analysts' expectations of $62.35 million. During the same quarter in the prior year, the firm earned $0.83 EPS. Sell-side analysts expect that Capital City Bank Group will post 3.06 earnings per share for the current fiscal year.

Capital City Bank Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Monday, September 8th were paid a $0.26 dividend. This is an increase from Capital City Bank Group's previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, September 8th. Capital City Bank Group's payout ratio is currently 30.41%.

Hedge Funds Weigh In On Capital City Bank Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCBG. US Bancorp DE increased its holdings in Capital City Bank Group by 224.7% in the first quarter. US Bancorp DE now owns 1,143 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 791 shares during the period. Raymond James Financial Inc. acquired a new stake in Capital City Bank Group in the second quarter valued at $150,000. Tower Research Capital LLC TRC increased its stake in shares of 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 buying an additional 3,809 shares during the period. GAMMA Investing LLC increased its stake in shares of Capital City Bank Group by 8,208.6% in the first quarter. GAMMA Investing LLC now owns 4,819 shares of the financial services provider's stock valued at $173,000 after buying an additional 4,761 shares during the period. Finally, Hohimer Wealth Management LLC acquired a new stake in shares of Capital City Bank Group in the second quarter valued at about $201,000. 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.