Today, Capital City Bank Group (CCBG) Hits New 52-Week High Following Dividend Announcement

Today, Capital City Bank Group (CCBG) Hits New 52-Week High Following Dividend Announcement
Shares of Capital City Bank Group (NASDAQ:CCBG) reached a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $19.02 and last traded at $18.92, with a volume of 27,082 shares trading hands. The stock had previously closed at $18.79.

The newly announced dividend which will be paid on Monday, December 19th. Shareholders of record on Monday, December 5th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, December 1st. This represents a $0.20 dividend on an annualized basis and a yield of 1.03%. This is a boost from Capital City Bank Group’s previous quarterly dividend of $0.04. Capital City Bank Group’s payout ratio is presently 24.62%.

Separately, Zacks Investment Research cut shares of Capital City Bank Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 28th.

The stock has a market capitalization of $326.39 million, a price-to-earnings ratio of 30.02 and a beta of 0.67. The firm’s 50-day moving average price is $15.78 and its 200-day moving average price is $14.89.

Capital City Bank Group (NASDAQ:CCBG) last released its quarterly earnings results on Tuesday, October 25th. The financial services provider reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. Capital City Bank Group had a net margin of 8.18% and a return on equity of 4.01%. On average, equities research analysts forecast that Capital City Bank Group will post $0.66 EPS for the current year.

A number of institutional investors have recently made changes to their positions in CCBG. Heartland Advisors Inc. raised its position in shares of Capital City Bank Group by 8.4% in the third quarter. Heartland Advisors Inc. now owns 739,451 shares of the financial services provider’s stock worth $10,922,000 after buying an additional 57,601 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Capital City Bank Group by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 698,976 shares of the financial services provider’s stock worth $9,730,000 after buying an additional 3,389 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Capital City Bank Group by 12.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 518,590 shares of the financial services provider’s stock worth $7,660,000 after buying an additional 58,778 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Capital City Bank Group by 1.0% in the second quarter. Vanguard Group Inc. now owns 435,527 shares of the financial services provider’s stock worth $6,062,000 after buying an additional 4,144 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Capital City Bank Group by 0.7% in the third quarter. Ameriprise Financial Inc. now owns 399,788 shares of the financial services provider’s stock worth $5,905,000 after buying an additional 2,690 shares in the last quarter. Hedge funds and other institutional investors own 29.65% of the company’s stock.

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