Capital City Bank Group (NASDAQ:CCBG) Sees Significant Growth in Short Interest

Capital City Bank Group (NASDAQ:CCBG) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 365,696 shares, a growth of 64.3% from the March 15th total of 222,633 shares. Based on an average daily volume of 144,808 shares, the days-to-cover ratio is currently 2.5 days. Approximately 2.7% of the company’s stock are short sold.

Capital City Bank Group Stock Performance

CCBG stock traded down $0.02 during trading hours on Wednesday, reaching $46.58. The stock had a trading volume of 7,001 shares, compared to its average volume of 100,522. The stock has a market capitalization of $798.76 million, a PE ratio of 12.94 and a beta of 0.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a 50-day simple moving average of $43.30 and a 200 day simple moving average of $42.53. Capital City Bank Group has a fifty-two week low of $33.64 and a fifty-two week high of $47.00.

Capital City Bank Group (NASDAQ:CCBG) last announced its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.09). The firm had revenue of $63.46 million during the quarter, compared to analyst estimates of $64.65 million. Capital City Bank Group had a net margin of 21.47% and a return on equity of 11.55%. Analysts predict that Capital City Bank Group will post 3.06 EPS for the current fiscal year.

Capital City Bank Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 9th were paid a $0.27 dividend. This is an increase from Capital City Bank Group’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Monday, March 9th. Capital City Bank Group’s dividend payout ratio is 30.00%.

Institutional Trading of Capital City Bank Group

A number of large investors have recently added to or reduced their stakes in CCBG. State of Alaska Department of Revenue acquired a new stake in Capital City Bank Group in the third quarter valued at $28,000. Quarry LP acquired a new stake in shares of Capital City Bank Group during the 3rd quarter worth about $38,000. CWM LLC lifted its stake in shares of Capital City Bank Group by 140.7% during the 3rd quarter. CWM LLC now owns 2,270 shares of the financial services provider’s stock worth $95,000 after buying an additional 1,327 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Capital City Bank Group during the 3rd quarter worth about $122,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Capital City Bank Group during the 2nd quarter worth about $150,000. Institutional investors and hedge funds own 44.59% of the company’s stock.

Wall Street Analyst Weigh In

CCBG has been the subject of several recent research reports. Zacks Research cut shares of Capital City Bank Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Wall Street Zen cut shares of Capital City Bank Group from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Keefe, Bruyette & Woods cut shares of Capital City Bank Group from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $47.00 to $45.00 in a report on Wednesday, January 28th. Capital One Financial set a $45.00 target price on shares of Capital City Bank Group in a report on Wednesday, January 28th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Capital City Bank Group in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.00.

About Capital City Bank Group

Capital City Bank Group, Inc is a Florida‐based bank holding company headquartered in Tallahassee. As the parent of Capital City Bank, it offers a full suite of financial services through a network of community banking offices. The company traces its origins to the late 19th century, reflecting more than a century of continuous operation in its home market.

Through its banking subsidiary, Capital City Bank Group provides retail and commercial banking products, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury management services.