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

Key Points

• CCBG shares crossed above their 200-day moving average of $46.17, reaching $53.46 before closing at $52.49, up 0.3%.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating from four analysts and an average price target of $51.75, despite one Buy rating and a raised $54 target from Keefe, Bruyette & Woods.
• Capital City Bank Group beat quarterly expectations with EPS of $0.95 versus $0.90 forecast and revenue of $64.80 million; it also maintains a quarterly dividend of $0.27, implying a 2.1% yield.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $46.17 and traded as high as $53.46. Capital City Bank Group shares last traded at $52.49, with a volume of 54,349 shares traded.

Analyst Ratings Changes

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

Capital City Bank Group Stock Up 0.3%

The stock has a market capitalization of $898.10 million, a price-to-earnings ratio of 14.58 and a beta of 0.31. The firm has a 50 day simple moving average of $49.66 and a 200-day simple moving average of $46.17. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.79 and a quick ratio of 0.78.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.90 by $0.05. The company had revenue of $64.80 million for the quarter, compared to the consensus estimate of $64.25 million. Capital City Bank Group had a net margin of 21.37% and a return on equity of 11.11%. On average, sell-side analysts forecast that Capital City Bank Group will post 3.69 EPS for the current fiscal year.

Capital City Bank Group Dividend Announcement

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

Institutional Trading of Capital City Bank Group

Several hedge funds have recently modified their holdings of CCBG. Globeflex Capital L P bought a new position in shares of Capital City Bank Group in the second quarter valued at approximately $144,000. Quantbot Technologies LP acquired a new position in shares of Capital City Bank Group in the 2nd quarter worth approximately $65,000. Heartland Advisors Inc. bought a new stake in Capital City Bank Group during the 2nd quarter worth approximately $24,710,000. BlackRock Inc. bought a new stake in Capital City Bank Group during the 2nd quarter worth approximately $83,449,000. Finally, Deutsche Bank AG acquired a new stake in Capital City Bank Group during the 2nd quarter valued at $698,000. 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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