Capital City Bank Group (NASDAQ:CCBG) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Capital City Bank Group shares crossed above their 200-day moving average of $42.39, trading as high as $43.42 and last at $43.37 on a volume of 77,027 shares.
• Analyst sentiment is mixed-to-cautious—several firms lowered ratings while others stayed positive—leaving a MarketBeat consensus of Hold with an average price target of $45.00.
• The company missed quarterly estimates (EPS $0.80 vs. $0.89; revenue $63.46M vs. $64.65M) but raised its quarterly dividend to $0.27 (annualized $1.08, yield 2.5%, payout ratio 30%).

Shares of Capital City Bank Group (NASDAQ:CCBG - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $42.39 and traded as high as $43.42. Capital City Bank Group shares last traded at $43.37, with a volume of 77,027 shares traded.

Analyst Ratings Changes

A number of research analysts recently weighed in on CCBG shares. Keefe, Bruyette & Woods lowered shares of Capital City Bank Group from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $47.00 to $45.00 in a research note on Wednesday, January 28th. Zacks Research lowered Capital City Bank Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 28th. Weiss Ratings reissued a "buy (b)" rating on shares of Capital City Bank Group in a report on Monday, December 29th. Wall Street Zen upgraded Capital City Bank Group from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Finally, Capital One Financial set a $45.00 price target on Capital City Bank Group in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $45.00.

Capital City Bank Group Stock Performance

The company has a market cap of $743.80 million, a PE ratio of 12.05 and a beta of 0.32. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.83. The firm's 50 day moving average is $42.91 and its 200-day moving average is $42.39.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) last released its earnings results on Tuesday, January 27th. The financial services provider reported $0.80 earnings per share for the quarter, missing analysts' consensus estimates of $0.89 by ($0.09). The business had revenue of $63.46 million during the quarter, compared to analysts' expectations of $64.65 million. Capital City Bank Group had a return on equity of 11.55% and a net margin of 21.47%. On average, research analysts anticipate that Capital City Bank Group will post 3.06 earnings per share for the current fiscal 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 issued a $0.27 dividend. This is a boost from Capital City Bank Group's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, March 9th. Capital City Bank Group's payout ratio is 30.00%.

Hedge Funds Weigh In On Capital City Bank Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCBG. Hsbc Holdings PLC grew its holdings in Capital City Bank Group by 32.6% in the 4th quarter. Hsbc Holdings PLC now owns 11,869 shares of the financial services provider's stock valued at $502,000 after buying an additional 2,920 shares in the last quarter. Empowered Funds LLC raised its stake in Capital City Bank Group by 10.4% during the fourth quarter. Empowered Funds LLC now owns 38,021 shares of the financial services provider's stock worth $1,619,000 after purchasing an additional 3,584 shares during the period. Wellington Management Group LLP boosted its holdings in Capital City Bank Group by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 547,871 shares of the financial services provider's stock valued at $23,323,000 after purchasing an additional 133,923 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in Capital City Bank Group in the 4th quarter valued at about $273,000. Finally, Millennium Management LLC grew its stake in shares of Capital City Bank Group by 50.1% in the 4th quarter. Millennium Management LLC now owns 66,856 shares of the financial services provider's stock valued at $2,846,000 after buying an additional 22,315 shares during the period. Institutional investors and hedge funds own 44.59% of the company's stock.

Capital City Bank Group Company Profile

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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