Capital City Bank Group (NASDAQ:CCBG) Sees Large Growth in Short Interest

Key Points

• Capital City Bank Group's short interest rose by 19.8% in August, reaching a total of 113,300 shares, representing 0.8% of the company's shares.
• Analysts have mixed opinions on the stock, with Keefe, Bruyette & Woods raising their target price to $45.00, while Wall Street Zen downgraded it to a "hold" rating.
• The company recently announced a quarterly dividend of $0.26 per share, increasing from the previous $0.24, which equates to an annualized yield of 2.4%.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 113,300 shares, an increase of 19.8% from the August 15th total of 94,600 shares. Based on an average trading volume of 37,900 shares, the days-to-cover ratio is currently 3.0 days. Approximately 0.8% of the company's shares are sold short. Approximately 0.8% of the company's shares are sold short. Based on an average trading volume of 37,900 shares, the days-to-cover ratio is currently 3.0 days.

Capital City Bank Group Stock Performance

Shares of CCBG traded down $0.41 during trading hours on Friday, hitting $43.33. The company's stock had a trading volume of 219,177 shares, compared to its average volume of 38,212. The company has a market cap of $739.64 million, a price-to-earnings ratio of 12.67 and a beta of 0.39. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.83 and a quick ratio of 0.82. The business has a 50 day simple moving average of $41.63 and a two-hundred day simple moving average of $38.60. Capital City Bank Group has a 52-week low of $32.38 and a 52-week high of $44.69.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.05. The firm had revenue of $63.20 million during the quarter, compared to the consensus estimate of $62.35 million. Capital City Bank Group had a net margin of 20.86% and a return on equity of 11.56%. During the same quarter last year, the company earned $0.83 earnings per share. On average, equities 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 will be paid on Monday, September 22nd. Investors of record on Monday, September 8th will be paid a dividend of $0.26 per share. 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 yield of 2.4%. The ex-dividend date of this dividend is Monday, September 8th. Capital City Bank Group's dividend payout ratio is presently 30.41%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Capital City Bank Group from $43.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $45.00.

Hedge Funds Weigh In On Capital City Bank Group

Several hedge funds have recently bought and sold shares of CCBG. Thrivent Financial for Lutherans purchased a new position in Capital City Bank Group in the 2nd quarter worth approximately $284,000. Hohimer Wealth Management LLC bought a new stake in Capital City Bank Group during the 2nd quarter valued at $201,000. Tower Research Capital LLC TRC raised its holdings in Capital City Bank Group by 1,282.5% during the 2nd 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 last quarter. Vident Advisory LLC bought a new stake in Capital City Bank Group during the 2nd quarter valued at $201,000. Finally, Bridgeway Capital Management LLC raised its holdings in Capital City Bank Group by 4.0% in the 2nd quarter. Bridgeway Capital Management LLC now owns 67,891 shares of the financial services provider's stock worth $2,672,000 after purchasing an additional 2,640 shares in the last quarter. Hedge funds and other institutional investors own 44.59% of the company's stock.

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.