Capital City Bank Group, Inc. (NASDAQ:CCBG) Short Interest Down 6.8% in September

Capital City Bank Group, Inc. (NASDAQ:CCBG) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 51,700 shares, a decline of 6.8% from the August 31st total of 55,500 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 40,800 shares, the days-to-cover ratio is currently 1.3 days.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CCBG shares. Hovde Group raised their price objective on 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. Piper Sandler lowered Capital City Bank Group from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $30.00 to $34.00 in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods upped their price objective on Capital City Bank Group from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Capital City Bank Group currently has a consensus rating of “Hold” and a consensus target price of $35.80.

Capital City Bank Group Stock Up 2.0 %

CCBG traded up $0.69 during midday trading on Monday, reaching $35.29. 71,618 shares of the company were exchanged, compared to its average volume of 32,709. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.83 and a current ratio of 0.83. The company’s fifty day moving average price is $33.80 and its 200 day moving average price is $29.73. The company has a market cap of $597.92 million, a price-to-earnings ratio of 11.50 and a beta of 0.53. Capital City Bank Group has a one year low of $25.45 and a one year high of $36.67.

Capital City Bank Group (NASDAQ:CCBG) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.12. The firm had revenue of $58.88 million for the quarter, compared to analysts’ expectations of $55.15 million. Capital City Bank Group had a net margin of 19.67% and a return on equity of 11.67%.

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 given a dividend of $0.23 per share. This is an increase from Capital City Bank Group’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.61%. Capital City Bank Group’s payout ratio is presently 29.97%.

Insider Transactions at Capital City Bank Group

In other Capital City Bank Group news, Treasurer Thomas A. Barron sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $35.26, for a total value of $282,080.00. Following the completion of the transaction, the treasurer now owns 143,681 shares in the company, valued at approximately $5,066,192.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Treasurer Thomas A. Barron sold 8,000 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $35.26, for a total value of $282,080.00. Following the completion of the transaction, the treasurer now owns 143,681 shares of the company’s stock, valued at $5,066,192.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Treasurer Thomas A. Barron sold 3,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $33.81, for a total value of $101,430.00. Following the completion of the transaction, the treasurer now directly owns 140,681 shares of the company’s stock, valued at approximately $4,756,424.61. The disclosure for this sale can be found here. Company insiders own 19.40% of the company’s stock.

Institutional Trading of Capital City Bank Group

Several hedge funds have recently bought and sold shares of the stock. Prospector Partners LLC boosted its stake in shares of Capital City Bank Group by 17.6% during the second quarter. Prospector Partners LLC now owns 32,685 shares of the financial services provider’s stock valued at $930,000 after purchasing an additional 4,900 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Capital City Bank Group by 4.0% in the second quarter. Renaissance Technologies LLC now owns 206,871 shares of the financial services provider’s stock worth $5,883,000 after buying an additional 8,000 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Capital City Bank Group by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 867,642 shares of the financial services provider’s stock worth $24,675,000 after buying an additional 4,606 shares during the last quarter. American Century Companies Inc. raised its holdings 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 worth $3,201,000 after purchasing an additional 32,671 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Capital City Bank Group by 7.2% in 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 buying an additional 11,742 shares in the last quarter. Hedge funds and other institutional investors own 44.59% of the company’s stock.

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.