Capital City Bank Group (NASDAQ:CCBG) Rating Increased to Buy at Zacks Investment Research

Capital City Bank Group (NASDAQ:CCBG) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports. The brokerage currently has a $32.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.80% from the company’s current price.

According to Zacks, “Capital City Bank Group, Inc. is a financial holding company with banking subsidiaries and numerous indirect subsidiaries. The Banks are full service banks, engaged in the commercial and retail banking business, including accepting demand, savings and time deposits; extending credit; originating residential mortgage loans; and providing data processing services, asset management services, trust services, retail brokerage services and a broad range of other financial services to corporate and individual customers, governmental entities and correspondent banks. “

CCBG has been the subject of a number of other research reports. ValuEngine upgraded Capital City Bank Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Hovde Group downgraded Capital City Bank Group from an “outperform” rating to a “market perform” rating and set a $30.00 price objective for the company. in a research note on Monday, September 23rd. Finally, BidaskClub lowered Capital City Bank Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $29.00.

Shares of NASDAQ CCBG opened at $28.88 on Thursday. The stock has a market capitalization of $483.71 million, a P/E ratio of 22.22 and a beta of 0.70. The company has a 50-day moving average price of $29.00 and a 200-day moving average price of $26.02. Capital City Bank Group has a 1 year low of $21.04 and a 1 year high of $30.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83.

Capital City Bank Group (NASDAQ:CCBG) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.05. Capital City Bank Group had a net margin of 18.76% and a return on equity of 9.35%. The company had revenue of $40.10 million for the quarter, compared to analyst estimates of $39.40 million. As a group, equities research analysts anticipate that Capital City Bank Group will post 1.67 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of CCBG. Strs Ohio raised its holdings in shares of Capital City Bank Group by 2.5% in the second quarter. Strs Ohio now owns 24,700 shares of the financial services provider’s stock valued at $613,000 after purchasing an additional 600 shares during the last quarter. Bank of New York Mellon Corp grew its position in Capital City Bank Group by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 74,814 shares of the financial services provider’s stock worth $1,859,000 after purchasing an additional 1,086 shares in the last quarter. Bank of Montreal Can increased its stake in Capital City Bank Group by 1,157.3% in the 2nd quarter. Bank of Montreal Can now owns 1,207 shares of the financial services provider’s stock valued at $30,000 after buying an additional 1,111 shares during the last quarter. Rhumbline Advisers increased its stake in Capital City Bank Group by 9.5% in the 3rd quarter. Rhumbline Advisers now owns 20,887 shares of the financial services provider’s stock valued at $573,000 after buying an additional 1,818 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Capital City Bank Group by 11.1% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 29,117 shares of the financial services provider’s stock worth $724,000 after buying an additional 2,903 shares in the last quarter. 40.87% of the stock is currently owned by hedge funds and other institutional investors.

Capital City Bank Group Company Profile

Capital City Bank Group, Inc operates as the bank holding company for Capital City Bank that provides a range of banking and banking-related services to individual and corporate clients in Florida, Georgia, and Alabama. It 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.

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