Capital City Bank Group (NASDAQ:CCBG) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Capital City Bank Group (NASDAQ:CCBG) from a sell rating to a buy rating in a research report report published on Thursday morning, Zacks.com reports. They currently have $32.00 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. “

Other equities analysts have also recently issued reports about the company. Hovde Group cut Capital City Bank Group from an outperform rating to a market perform rating and set a $30.00 target price on the stock. in a report on Monday, September 23rd. ValuEngine raised Capital City Bank Group from a sell rating to a hold rating in a research note on Tuesday, October 29th. Finally, BidaskClub cut shares of Capital City Bank Group from a buy rating to a hold rating in a report on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $29.00.

Shares of NASDAQ:CCBG opened at $28.88 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $483.71 million, a price-to-earnings ratio of 22.22 and a beta of 0.70. Capital City Bank Group has a 1-year low of $21.04 and a 1-year high of $30.85. The company has a 50 day moving average price of $29.00 and a 200 day moving average price of $26.02.

Capital City Bank Group (NASDAQ:CCBG) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.05. Capital City Bank Group had a return on equity of 9.35% and a net margin of 18.76%. The company had revenue of $40.10 million for the quarter, compared to analysts’ expectations of $39.40 million. On average, sell-side analysts expect that Capital City Bank Group will post 1.77 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Friday, December 6th. Capital City Bank Group’s payout ratio is presently 40.00%.

Institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its position in Capital City Bank Group by 20.1% in the 2nd quarter. Wells Fargo & Company MN now owns 44,502 shares of the financial services provider’s stock worth $1,106,000 after buying an additional 7,456 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of Capital City Bank Group in the third quarter worth $359,000. Vanguard Group Inc. increased its stake in shares of Capital City Bank Group by 0.8% in the second quarter. Vanguard Group Inc. now owns 514,405 shares of the financial services provider’s stock worth $12,783,000 after acquiring an additional 4,308 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Capital City Bank Group by 13.8% in the second quarter. Acadian Asset Management LLC now owns 83,129 shares of the financial services provider’s stock worth $2,066,000 after acquiring an additional 10,080 shares during the last quarter. Finally, Murphy Middleton Hinkle & Parker Inc. raised its holdings in shares of Capital City Bank Group by 56.2% during the third quarter. Murphy Middleton Hinkle & Parker Inc. now owns 115,998 shares of the financial services provider’s stock worth $3,184,000 after acquiring an additional 41,746 shares in the last quarter. Hedge funds and other institutional investors own 40.87% of the company’s stock.

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.

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