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

Key Points

• Capital City Bank Group shares climbed above their 200-day moving average, reaching $52.78 and closing around $52.46, compared with the $45.75 average.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $51.75; Keefe, Bruyette & Woods recently raised its target to $54.
• The company beat quarterly expectations, reporting $0.95 in EPS versus a $0.90 estimate, and maintains a quarterly dividend of $0.27, equivalent to a 2.1% yield.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $45.75 and traded as high as $52.78. Capital City Bank Group shares last traded at $52.46, with a volume of 94,277 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Capital One Financial set a $49.50 target price on shares of Capital City Bank Group in a research report on Tuesday, April 21st. Brean Capital downgraded shares of Capital City Bank Group from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 21st. Weiss Ratings restated a "buy (b)" rating on shares of Capital City Bank Group in a research note on Wednesday, June 24th. Wall Street Zen raised Capital City Bank Group from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Keefe, Bruyette & Woods lifted their target price on Capital City Bank Group from $52.00 to $54.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $51.75.

Capital City Bank Group Stock Up 1.1%

The firm has a 50 day simple moving average of $48.55 and a two-hundred day simple moving average of $45.75. The company has a market capitalization of $897.75 million, a PE ratio of 14.57 and a beta of 0.31. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.06.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.05. Capital City Bank Group had a return on equity of 11.11% and a net margin of 21.37%.The business had revenue of $64.80 million for the quarter, compared to analyst estimates of $64.25 million. Research analysts expect that Capital City Bank Group will post 3.69 EPS for the current year.

Capital City Bank Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Monday, June 1st. Capital City Bank Group's payout ratio is currently 30.00%.

Institutional Trading of Capital City Bank Group

Several hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in shares of Capital City Bank Group by 24.1% during the first quarter. AQR Capital Management LLC now owns 12,177 shares of the financial services provider's stock worth $438,000 after acquiring an additional 2,362 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Capital City Bank Group by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,175 shares of the financial services provider's stock valued at $294,000 after purchasing an additional 327 shares during the period. Empowered Funds LLC boosted its holdings in Capital City Bank Group by 8.1% in the 1st quarter. Empowered Funds LLC now owns 28,079 shares of the financial services provider's stock valued at $1,010,000 after purchasing an additional 2,115 shares in the last quarter. Jane Street Group LLC purchased a new stake in Capital City Bank Group in the 1st quarter valued at approximately $555,000. Finally, Rhumbline Advisers increased its position in Capital City Bank Group by 4.7% during the 2nd quarter. Rhumbline Advisers now owns 21,994 shares of the financial services provider's stock worth $865,000 after purchasing an additional 982 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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