Capital City Bank Group (NASDAQ:CCBG) Posts Earnings Results, Misses Expectations By $0.09 EPS

Capital City Bank Group (NASDAQ:CCBG) posted its quarterly earnings results on Tuesday. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.09), Zacks reports. Capital City Bank Group had a net margin of 21.50% and a return on equity of 11.75%. The company had revenue of $63.46 million during the quarter, compared to analysts’ expectations of $64.65 million.

Capital City Bank Group Stock Down 5.1%

Capital City Bank Group stock opened at $42.36 on Wednesday. The company has a market capitalization of $723.09 million, a PE ratio of 11.87 and a beta of 0.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.83 and a current ratio of 0.83. Capital City Bank Group has a fifty-two week low of $32.38 and a fifty-two week high of $46.83. The firm has a 50 day moving average price of $43.13 and a 200 day moving average price of $41.99.

Capital City Bank Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.5%. Capital City Bank Group’s dividend payout ratio (DPR) is presently 29.13%.

Analyst Ratings Changes

CCBG has been the subject of several analyst reports. Capital One Financial set a $45.00 target price on Capital City Bank Group in a report on Wednesday. Keefe, Bruyette & Woods downgraded shares of Capital City Bank Group from an “outperform” rating to a “market perform” rating and set a $45.00 target price on the stock. in a research note on Wednesday. Zacks Research upgraded shares of Capital City Bank Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Capital City Bank Group in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $45.00.

Institutional Trading of Capital City Bank Group

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in Capital City Bank Group by 45.2% in the third quarter. Wellington Management Group LLP now owns 413,948 shares of the financial services provider’s stock valued at $17,299,000 after purchasing an additional 128,926 shares during the period. Bank of America Corp DE boosted its stake in shares of Capital City Bank Group by 997.3% in the 3rd quarter. Bank of America Corp DE now owns 192,495 shares of the financial services provider’s stock valued at $8,044,000 after buying an additional 174,953 shares during the period. Bridgeway Capital Management LLC boosted its stake in shares of Capital City Bank Group by 5.5% in the 3rd quarter. Bridgeway Capital Management LLC now owns 71,609 shares of the financial services provider’s stock valued at $2,993,000 after buying an additional 3,718 shares during the period. JPMorgan Chase & Co. grew its position in shares of Capital City Bank Group by 11.4% during the third quarter. JPMorgan Chase & Co. now owns 62,766 shares of the financial services provider’s stock worth $2,623,000 after buying an additional 6,428 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Capital City Bank Group by 5.2% during the second quarter. First Trust Advisors LP now owns 55,480 shares of the financial services provider’s stock worth $2,183,000 after buying an additional 2,733 shares during the period. Institutional investors and hedge funds own 44.59% of the company’s stock.

Capital City Bank Group Company Profile

Capital City Bank Group, Inc is a Florida‐based bank holding company headquartered in Tallahassee. As the parent of Capital City Bank, it offers a full suite of financial services through a network of community banking offices. The company traces its origins to the late 19th century, reflecting more than a century of continuous operation in its home market.

Through its banking subsidiary, Capital City Bank Group provides retail and commercial banking products, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury management services.