Capital City Bank Group, Inc. (NASDAQ:CCBG) Raises Dividend to $0.23 Per Share

Capital City Bank Group, Inc. (NASDAQ:CCBG) announced a quarterly dividend on Thursday, August 29th, Zacks reports. Investors of record on Monday, September 9th will be paid a dividend of 0.23 per share by the financial services provider on Monday, September 23rd. This represents a $0.92 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Monday, September 9th. This is a positive change from Capital City Bank Group’s previous quarterly dividend of $0.21.

Capital City Bank Group has increased its dividend payment by an average of 10.1% annually over the last three years. Capital City Bank Group has a dividend payout ratio of 29.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Capital City Bank Group to earn $2.82 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 29.8%.

Capital City Bank Group Price Performance

Shares of NASDAQ CCBG opened at $34.52 on Friday. The stock has a market cap of $584.87 million, a price-to-earnings ratio of 11.24 and a beta of 0.55. Capital City Bank Group has a 52 week low of $25.45 and a 52 week high of $36.49. The company’s 50-day moving average price is $31.52 and its 200 day moving average price is $28.82. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.12.

Capital City Bank Group (NASDAQ:CCBG) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.12. Capital City Bank Group had a net margin of 19.67% and a return on equity of 11.84%. The firm had revenue of $58.88 million for the quarter, compared to analysts’ expectations of $55.15 million. As a group, research analysts forecast that Capital City Bank Group will post 2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CCBG. Hovde Group raised their price target on shares of Capital City Bank Group from $30.00 to $37.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods increased their price objective on shares of Capital City Bank Group from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Piper Sandler lowered shares of Capital City Bank Group from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $30.00 to $34.00 in a report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Capital City Bank Group currently has a consensus rating of “Hold” and an average target price of $35.80.

Insider Activity at Capital City Bank Group

In related news, Treasurer Thomas A. Barron sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $35.26, for a total value of $282,080.00. Following the transaction, the treasurer now owns 143,681 shares in the company, valued at $5,066,192.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 19.40% of the stock is currently owned by insiders.

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.