Short Interest in Capital City Bank Group, Inc. (NASDAQ:CCBG) Drops By 5.9%

Capital City Bank Group, Inc. (NASDAQ:CCBG) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 82,000 shares, a drop of 5.9% from the October 15th total of 87,100 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average daily volume of 26,500 shares, the days-to-cover ratio is presently 3.1 days.

Capital City Bank Group Price Performance

Shares of NASDAQ:CCBG opened at $27.84 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $473.00 million, a P/E ratio of 8.73 and a beta of 0.63. Capital City Bank Group has a 52 week low of $26.12 and a 52 week high of $36.86. The company has a 50-day moving average price of $29.31 and a 200 day moving average price of $30.44.

Capital City Bank Group (NASDAQ:CCBG) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Capital City Bank Group had a net margin of 20.74% and a return on equity of 13.30%. The company had revenue of $59.33 million for the quarter, compared to analyst estimates of $62.45 million. Research analysts predict that Capital City Bank Group will post 3.26 earnings per share for the current year.

Capital City Bank Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Monday, December 4th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.87%. Capital City Bank Group’s payout ratio is 25.08%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CCBG. Piper Sandler reduced their price objective on shares of Capital City Bank Group from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Tuesday, August 15th. DA Davidson downgraded shares of Capital City Bank Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.50 to $32.50 in a research report on Wednesday. Finally, StockNews.com began coverage on shares of Capital City Bank Group in a research report on Thursday, October 5th. They issued a “hold” rating for the company.

Insiders Place Their Bets

In other news, Director Marshall M. Criser III acquired 2,000 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were bought at an average price of $27.06 per share, with a total value of $54,120.00. Following the completion of the acquisition, the director now owns 13,900 shares in the company, valued at approximately $376,134. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Capital City Bank Group news, Director Laura L. Johnson bought 1,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was acquired at an average price of $30.53 per share, for a total transaction of $30,530.00. Following the completion of the purchase, the director now owns 33,091 shares of the company’s stock, valued at $1,010,268.23. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Marshall M. Criser III bought 2,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were acquired at an average price of $27.06 per share, with a total value of $54,120.00. Following the purchase, the director now directly owns 13,900 shares of the company’s stock, valued at approximately $376,134. The disclosure for this purchase can be found here. Corporate insiders own 23.20% of the company’s stock.

Institutional Investors Weigh In On Capital City Bank Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. lifted its position in shares of Capital City Bank Group by 336.2% during the 1st quarter. Federated Hermes Inc. now owns 1,278 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 985 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Capital City Bank Group by 93.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,428 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 689 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Capital City Bank Group by 599.3% during the 2nd quarter. Captrust Financial Advisors now owns 1,986 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 1,702 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Capital City Bank Group by 178.8% during the 2nd quarter. Lazard Asset Management LLC now owns 2,755 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 1,767 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Capital City Bank Group by 47.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,837 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 916 shares in the last quarter. 45.79% of the stock is currently owned by institutional investors and hedge funds.

Capital City Bank Group Company Profile

Capital City Bank Group, Inc operates as the financial holding company for Capital City Bank that provides a range of banking 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.