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

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Hovde Group raised their price target on Capital City Bank Group from $30.00 to $37.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Piper Sandler lowered shares of Capital City Bank Group from an “overweight” rating to a “neutral” rating and upped their price target for the company from $30.00 to $34.00 in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Capital City Bank Group from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.80.

Insider Transactions at Capital City Bank Group

In related news, Treasurer Thomas A. Barron sold 3,000 shares of Capital City Bank Group stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $33.81, for a total transaction of $101,430.00. Following the transaction, the treasurer now directly owns 140,681 shares of the company’s stock, valued at $4,756,424.61. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Capital City Bank Group news, Treasurer Thomas A. Barron sold 3,000 shares of Capital City Bank Group stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $33.81, for a total value of $101,430.00. Following the transaction, the treasurer now owns 140,681 shares in the company, valued at $4,756,424.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Treasurer Thomas A. Barron sold 8,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $35.26, for a total transaction 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 disclosure for this sale can be found here. Corporate insiders own 19.40% of the company’s stock.

Institutional Trading of Capital City Bank Group

A number of hedge funds have recently added to or reduced their stakes in CCBG. Prospector Partners LLC increased its holdings in Capital City Bank Group by 17.6% in the second quarter. Prospector Partners LLC now owns 32,685 shares of the financial services provider’s stock valued at $930,000 after buying an additional 4,900 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Capital City Bank Group by 4.0% in the 2nd quarter. Renaissance Technologies LLC now owns 206,871 shares of the financial services provider’s stock worth $5,883,000 after purchasing an additional 8,000 shares during the period. Dimensional Fund Advisors LP grew its holdings in 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 valued at $24,675,000 after purchasing an additional 4,606 shares during the period. American Century Companies Inc. increased its position in shares of Capital City Bank Group by 40.9% in the second quarter. American Century Companies Inc. now owns 112,545 shares of the financial services provider’s stock valued at $3,201,000 after buying an additional 32,671 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Capital City Bank Group by 7.2% during the 2nd quarter. Acadian Asset Management LLC now owns 175,117 shares of the financial services provider’s stock worth $4,978,000 after buying an additional 11,742 shares during the period. 44.59% of the stock is owned by hedge funds and other institutional investors.

Capital City Bank Group Stock Performance

CCBG traded down $0.94 during trading on Tuesday, reaching $34.35. 3,120 shares of the company’s stock were exchanged, compared to its average volume of 32,546. The company’s fifty day simple moving average is $33.85 and its 200-day simple moving average is $29.79. The stock has a market capitalization of $581.99 million, a P/E ratio of 11.17 and a beta of 0.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.83 and a quick ratio of 0.83. Capital City Bank Group has a 1 year low of $25.45 and a 1 year high of $36.67.

Capital City Bank Group (NASDAQ:CCBG) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.83 earnings per share for the quarter, beating 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 analyst estimates of $55.15 million.

Capital City Bank Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a $0.23 dividend. This is a boost from Capital City Bank Group’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Monday, September 9th. Capital City Bank Group’s payout ratio is currently 29.97%.

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.