Capital City Bank Group (CCBG) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Capital City Bank Group (NASDAQ:CCBG) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

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 recently weighed in on CCBG. Stephens reaffirmed a hold rating and issued a $26.00 price target on shares of Capital City Bank Group in a research report on Tuesday, July 31st. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $27.00 price target on shares of Capital City Bank Group in a research report on Thursday, July 26th. BidaskClub cut shares of Capital City Bank Group from a hold rating to a sell rating in a research report on Friday, September 21st. Hovde Group reaffirmed a buy rating and issued a $29.00 price target on shares of Capital City Bank Group in a research report on Friday, August 3rd. Finally, ValuEngine raised shares of Capital City Bank Group from a hold rating to a buy rating in a research report on Friday, July 20th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $27.00.

CCBG stock traded down $0.28 during mid-day trading on Wednesday, reaching $23.23. The company had a trading volume of 208 shares, compared to its average volume of 20,750. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $398.08 million, a P/E ratio of 26.40 and a beta of 0.67. Capital City Bank Group has a 12 month low of $20.22 and a 12 month high of $26.50.

Capital City Bank Group (NASDAQ:CCBG) last issued its earnings results on Tuesday, July 24th. The financial services provider reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.05. Capital City Bank Group had a net margin of 11.38% and a return on equity of 6.55%. The business had revenue of $35.31 million for the quarter, compared to the consensus estimate of $35.10 million. On average, research analysts expect that Capital City Bank Group will post 1.15 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th were given a dividend of $0.09 per share. This is a boost from Capital City Bank Group’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, August 31st. This represents a $0.36 dividend on an annualized basis and a yield of 1.55%. Capital City Bank Group’s dividend payout ratio is presently 40.91%.

In related news, Treasurer Thomas A. Barron sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $23.99, for a total transaction of $119,950.00. Following the completion of the sale, the treasurer now owns 130,507 shares of the company’s stock, valued at $3,130,862.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 24.31% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Cim Investment Mangement Inc. purchased a new stake in Capital City Bank Group during the second quarter valued at approximately $334,000. Acadian Asset Management LLC raised its holdings in shares of Capital City Bank Group by 31.9% in the second quarter. Acadian Asset Management LLC now owns 56,427 shares of the financial services provider’s stock worth $1,333,000 after buying an additional 13,636 shares during the last quarter. Dalton Greiner Hartman Maher & Co. raised its holdings in shares of Capital City Bank Group by 70.5% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 96,493 shares of the financial services provider’s stock worth $2,280,000 after buying an additional 39,887 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Capital City Bank Group by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 816,412 shares of the financial services provider’s stock worth $20,206,000 after buying an additional 26,860 shares during the last quarter. Finally, Teton Advisors Inc. raised its holdings in shares of Capital City Bank Group by 16.2% in the second quarter. Teton Advisors Inc. now owns 95,976 shares of the financial services provider’s stock worth $2,268,000 after buying an additional 13,376 shares during the last quarter. 37.34% of the stock is owned by institutional investors.

Capital City Bank Group Company Profile

Capital City Bank Group, Inc operates as the bank holding company for Capital City Bank that provides a range of banking and banking-related services to individual and corporate clients in Florida, Georgia, and Alabama. It 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.

Further Reading: Insider Trading

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