Capital City Bank Group (CCBG) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Capital City Bank Group (NASDAQ:CCBG) from a hold rating to a strong-buy rating in a report released on Friday morning. Zacks Investment Research currently has $27.00 price objective on the financial services provider’s stock.

According to Zacks, “Capital City Bank Group, Inc. is a financial holding company with banking subsidiaries and numerous indirect subsidiaries. The Banks are full service banks, engaged in the commercial and retail banking business, including accepting demand, savings and time deposits; extending credit; originating residential mortgage loans; and providing data processing services, asset management services, trust services, retail brokerage services and a broad range of other financial services to corporate and individual customers, governmental entities and correspondent banks. “

Several other brokerages have also commented on CCBG. Keefe, Bruyette & Woods reiterated a hold rating and set a $23.00 price target on shares of Capital City Bank Group in a research note on Tuesday, October 3rd. ValuEngine lowered shares of Capital City Bank Group from a buy rating to a hold rating in a research note on Tuesday, November 14th. Finally, BidaskClub lowered shares of Capital City Bank Group from a buy rating to a hold rating in a research note on Tuesday, December 12th. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $24.33.

Shares of Capital City Bank Group (NASDAQ:CCBG) opened at $22.94 on Friday. Capital City Bank Group has a fifty-two week low of $17.68 and a fifty-two week high of $26.01. The firm has a market cap of $389.20, a price-to-earnings ratio of 27.31 and a beta of 0.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.77 and a quick ratio of 0.77.

Capital City Bank Group (NASDAQ:CCBG) last announced its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.04. Capital City Bank Group had a net margin of 10.35% and a return on equity of 5.06%. The business had revenue of $34.26 million for the quarter. sell-side analysts anticipate that Capital City Bank Group will post 0.88 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 18th. Shareholders of record on Monday, December 4th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Friday, December 1st. Capital City Bank Group’s payout ratio is currently 33.33%.

In other Capital City Bank Group news, Treasurer Thomas A. Barron sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $25.17, for a total transaction of $100,680.00. Following the transaction, the treasurer now directly owns 127,717 shares of the company’s stock, valued at approximately $3,214,636.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 26.17% of the company’s stock.

Large investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. boosted its holdings in shares of Capital City Bank Group by 51.1% in the third quarter. Hillsdale Investment Management Inc. now owns 38,450 shares of the financial services provider’s stock valued at $923,000 after acquiring an additional 13,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Capital City Bank Group by 26.9% in the first quarter. Vanguard Group Inc. now owns 457,244 shares of the financial services provider’s stock valued at $9,781,000 after acquiring an additional 96,943 shares in the last quarter. Chicago Equity Partners LLC purchased a new stake in shares of Capital City Bank Group in the third quarter valued at about $293,000. Boston Partners boosted its holdings in shares of Capital City Bank Group by 74.4% in the third quarter. Boston Partners now owns 129,200 shares of the financial services provider’s stock valued at $3,102,000 after acquiring an additional 55,100 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Capital City Bank Group by 7.8% in the second quarter. Northern Trust Corp now owns 136,180 shares of the financial services provider’s stock valued at $2,781,000 after acquiring an additional 9,905 shares in the last quarter. 32.24% of the stock is currently owned by institutional investors and hedge funds.

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About Capital City Bank Group

Capital City Bank Group, Inc is a financial holding company. The Company provides a range of banking and banking-related services to individual and corporate clients through its subsidiary, Capital City Bank (CCB or the Bank), with banking offices located in Florida, Georgia and Alabama. It operates through commercial banking segment with over four principal services, including Banking Services (CCB), Data Processing Services (Capital City Services Company), Trust and Asset Management Services (Capital City Trust Company) and Brokerage Services (Capital City Banc Investments, Inc).

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