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

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

Insider Activity at Capital City Bank Group

In related news, Treasurer Thomas A. Barron sold 3,000 shares of the business’s stock in a transaction on 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 directly owns 140,681 shares in the company, valued at $4,756,424.61. The trade was a 2.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 19.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Capital City Bank Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in Capital City Bank Group by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 320,479 shares of the financial services provider’s stock worth $11,312,000 after purchasing an additional 7,773 shares in the last quarter. Barclays PLC lifted its stake in shares of Capital City Bank Group by 46.8% in the 3rd quarter. Barclays PLC now owns 53,402 shares of the financial services provider’s stock valued at $1,883,000 after purchasing an additional 17,022 shares during the period. Wellington Management Group LLP purchased a new stake in Capital City Bank Group during the third quarter worth $5,673,000. State Street Corp grew its position in Capital City Bank Group by 1.8% during the third quarter. State Street Corp now owns 341,426 shares of the financial services provider’s stock valued at $12,049,000 after buying an additional 5,980 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new position in Capital City Bank Group in the third quarter valued at $235,000. 44.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Capital City Bank Group Stock Performance

NASDAQ CCBG traded down $0.23 on Monday, hitting $38.11. 5,473 shares of the company’s stock traded hands, compared to its average volume of 31,570. The firm’s 50-day moving average price is $35.32 and its two-hundred day moving average price is $31.85. The firm has a market capitalization of $645.58 million, a PE ratio of 12.57 and a beta of 0.53. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.11. Capital City Bank Group has a 1-year low of $25.45 and a 1-year high of $40.08.

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

Capital City Bank Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Monday, September 9th. This is a boost from Capital City Bank Group’s previous quarterly dividend of $0.21. Capital City Bank Group’s payout ratio is 30.16%.

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.