Capital City Bank Group, Inc. (NASDAQ:CCBG) Announces Dividend Increase – $0.23 Per Share

Capital City Bank Group, Inc. (NASDAQ:CCBG) announced a quarterly dividend on Thursday, August 29th, Zacks reports. Shareholders of record on Monday, September 9th will be given a dividend of 0.23 per share by the financial services provider on Monday, September 23rd. This represents a $0.92 annualized dividend and a yield of 2.72%. The ex-dividend date is Monday, September 9th. This is a boost from Capital City Bank Group’s previous quarterly dividend of $0.21.

Capital City Bank Group has raised its dividend payment by an average of 10.1% per year over the last three years. Capital City Bank Group has a dividend payout ratio of 33.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Capital City Bank Group to earn $2.95 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 31.2%.

Capital City Bank Group Price Performance

Shares of NASDAQ:CCBG opened at $33.80 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $32.20 and a 200 day moving average price of $29.02. Capital City Bank Group has a twelve month low of $25.45 and a twelve month high of $36.49. The company has a market cap of $572.67 million, a price-to-earnings ratio of 11.01 and a beta of 0.53.

Capital City Bank Group (NASDAQ:CCBG) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. Capital City Bank Group had a return on equity of 11.67% and a net margin of 19.67%. The business had revenue of $58.88 million during the quarter, compared to analysts’ expectations of $55.15 million. Research analysts predict that Capital City Bank Group will post 2.95 earnings per share for the current year.

Insider Buying and Selling at Capital City Bank Group

In other news, Treasurer Thomas A. Barron sold 8,000 shares of the firm’s 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 transaction, the treasurer now directly 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 is accessible through this link. Insiders own 19.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on CCBG shares. 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. Piper Sandler downgraded Capital City Bank Group from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $30.00 to $34.00 in a research note on Monday, July 29th. Finally, Hovde Group increased their target price on shares of Capital City Bank Group from $30.00 to $37.00 and gave the company a “market perform” rating in a research report on Wednesday, July 24th. Four 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 presently has an average rating of “Hold” and an average target price of $35.80.

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.