Capital City Bank Group, Inc. (NASDAQ:CCBG) Sees Large Decrease in Short Interest

Capital City Bank Group, Inc. (NASDAQ:CCBG) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 45,200 shares, a drop of 12.1% from the October 15th total of 51,400 shares. Based on an average daily volume of 29,300 shares, the short-interest ratio is currently 1.5 days. Approximately 0.3% of the company’s shares are short sold.

Capital City Bank Group Stock Performance

CCBG traded down $0.24 on Friday, hitting $38.34. The company had a trading volume of 25,354 shares, compared to its average volume of 29,942. Capital City Bank Group has a 1-year low of $25.45 and a 1-year high of $40.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.83. The company’s fifty day moving average price is $35.32 and its 200 day moving average price is $31.82. The stock has a market cap of $649.48 million, a price-to-earnings ratio of 12.57 and a beta of 0.53.

Capital City Bank Group (NASDAQ:CCBG) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.01. The business had revenue of $68.84 million during the quarter, compared to the consensus estimate of $54.40 million. Capital City Bank Group had a net margin of 19.42% and a return on equity of 11.29%.

Capital City Bank Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a $0.23 dividend. The ex-dividend date was Monday, September 9th. This is a positive change from Capital City Bank Group’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.40%. Capital City Bank Group’s payout ratio is presently 30.16%.

Insider Buying and Selling

In other Capital City Bank Group news, Treasurer Thomas A. Barron sold 3,000 shares of Capital City Bank Group stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $33.81, for a total transaction of $101,430.00. Following the transaction, the treasurer now owns 140,681 shares of the company’s stock, valued at $4,756,424.61. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 19.40% of the company’s stock.

Institutional Trading of Capital City Bank Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCBG. Wellington Management Group LLP bought a new stake in shares of Capital City Bank Group in the third quarter valued at approximately $5,673,000. American Century Companies Inc. raised its position in shares of Capital City Bank Group by 40.9% during the second quarter. American Century Companies Inc. now owns 112,545 shares of the financial services provider’s stock valued at $3,201,000 after buying an additional 32,671 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Capital City Bank Group in the first quarter valued at about $585,000. Barclays PLC grew its position in Capital City Bank Group by 46.8% during the third quarter. Barclays PLC now owns 53,402 shares of the financial services provider’s stock worth $1,883,000 after buying an additional 17,022 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Capital City Bank Group by 7.2% during the second quarter. Acadian Asset Management LLC now owns 175,117 shares of the financial services provider’s stock valued at $4,978,000 after acquiring an additional 11,742 shares during the period. Institutional investors and hedge funds own 44.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of Capital City Bank Group from a “hold” rating to a “buy” rating in a research note on Thursday. Keefe, Bruyette & Woods raised their price target on Capital City Bank Group from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Piper Sandler lowered shares of Capital City Bank Group from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $30.00 to $34.00 in a research report on Monday, July 29th. Finally, Hovde Group lifted their target price on shares of Capital City Bank Group from $30.00 to $37.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.80.

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.