Capital City Bank Group, Inc. (NASDAQ:CCBG) Declares Quarterly Dividend of $0.16
Capital City Bank Group, Inc. (NASDAQ:CCBG – Get Rating) announced a quarterly dividend on Thursday, May 26, Zacks reports. Investors of record on Monday June 6 will receive a dividend of 0.16 per share from the financial services provider on Monday June 20. This represents an annualized dividend of $0.64 and a yield of 2.37%. The ex-dividend date is Friday, June 3.
Capital City Bank Group has increased its dividend payout by an average of 24.7% per year over the past three years and has increased its dividend every year for the past 7 consecutive years. Capital City Bank Group has a dividend payout ratio of 23.6%, indicating that its dividend is sufficiently covered by earnings. Research analysts expect Capital City Bank Group to earn $2.84 per share next year, meaning the company should continue to be able to cover its $0.64 annual dividend with a expected future payout ratio of 22.5%.
Shares of CCBG opened at $26.98 on Friday. The company has a 50-day moving average of $25.98 and a 200-day moving average of $26.92. Capital City Bank Group has a fifty-two week low of $22.01 and a fifty-two week high of $29.00. The company has a market capitalization of $457.26 million, a P/E ratio of 14.05 and a beta of 0.66. The company has a debt ratio of 0.14, a quick ratio of 0.75 and a current ratio of 0.76.
Capital City Bank Group (NASDAQ:CCBG – Get Rating) last released its results on Monday, April 25. The financial services provider reported earnings per share of $0.50 for the quarter, beating analyst consensus estimates of $0.38 by $0.12. The company posted revenue of $50.51 million in the quarter, against analyst estimates of $46.80 million. Capital City Bank Group achieved a return on equity of 8.98% and a net margin of 15.41%. As a group, research analysts predict Capital City Bank Group will post earnings per share of 2.18 for the current fiscal year.
In other news, Director Allan G. Bense bought 10,000 shares of the company in a deal that took place on Tuesday, March 1. The stock was purchased at an average price of $26.76 per share, for a total transaction of $267,600.00. The acquisition was disclosed in a legal filing with the SEC, which is available via this hyperlink. Additionally, Treasurer Thomas A. Barron sold 5,000 shares of the company in a trade that took place on Thursday, March 10. The stock was sold at an average price of $27.02, for a total value of $135,100.00. The disclosure of this sale can be found here. 20.84% of the shares are currently held by insiders.
A number of hedge funds have recently changed their positions in the business. Dimensional Fund Advisors LP increased its position in Capital City Bank Group by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 828,120 shares of the financial services provider valued at $21,829,000 after buying 3,768 additional shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Capital City Bank Group by 2.8% during the first quarter. Vanguard Group Inc. now owns 615,094 shares of the financial services provider valued at $16,215,000 after purchasing an additional 16,715 shares during the period. State Street Corp increased its stake in shares of Capital City Bank Group by 2.3% in the first quarter. State Street Corp now owns 298,458 shares of the financial services provider valued at $7,867,000 after purchasing an additional 6,763 shares during the period. Geode Capital Management LLC increased its stake in Capital City Bank Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 230,114 shares of the financial services provider valued at $6,075,000 after purchasing an additional 3,745 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Capital City Bank Group by 6.4% during the first quarter. Renaissance Technologies LLC now owns 199,171 shares of the financial services provider valued at $5,250,000 after purchasing an additional 11,900 shares during the period. Hedge funds and other institutional investors own 43.81% of the company’s shares.
A number of research analysts have weighed in on the company. Piper Sandler upgraded Capital City Bank Group from a “neutral” rating to an “overweight” rating and raised its price target for the company from $29.00 to $31.50 in a Tuesday, April 26 report. StockNews.com downgraded Capital City Bank Group from a “buy” rating to a “hold” rating in a Wednesday, May 18, report. Finally, Zacks Investment Research upgraded Capital City Bank Group from a “hold” rating to a “strong-buy” rating and set a $30.00 price target for the company in a Friday, April 1 report. One equity research analyst gave the stock a hold rating, three gave the stock a buy rating and one gave the stock a high buy rating. According to data from MarketBeat.com, Capital City Bank Group currently has an average rating of “Buy” and an average target price of $31.00.
Capital City Bank Group Company Profile (Get a rating)
Capital City Bank Group, Inc operates as the financial holding company for Capital City Bank which provides a range of banking and banking-related services to individuals and businesses. The Company offers financing for commercial properties, equipment, inventory and accounts receivable, as well as commercial leasing and letters of credit; cash management services; and merchant credit card transaction processing services.
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