Capital City Bank Group (NASDAQ:CCBG) Trading Up 4.9% on Earnings Beat

Capital City Bank Group, Inc. (NASDAQ:CCBG) shares rose 4.9% on Wednesday following a stronger than expected earnings report. The stock traded as high as $35.10 and last traded at $35.10. Approximately 8,175 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 31,022 shares. The stock had previously closed at $33.47.

The financial services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. The firm had revenue of $58.88 million for the quarter, compared to analysts’ expectations of $55.15 million. Capital City Bank Group had a return on equity of 12.09% and a net margin of 19.86%.

Capital City Bank Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, June 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.41%. Capital City Bank Group’s dividend payout ratio is currently 27.36%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Capital City Bank Group from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 23rd. Piper Sandler lowered their price target on Capital City Bank Group from $34.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Finally, Hovde Group increased their price objective on Capital City Bank Group from $30.00 to $37.00 and gave the stock a “market perform” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.80.

Institutional Investors Weigh In On Capital City Bank Group

A number of institutional investors have recently modified their holdings of the stock. Heartland Advisors Inc. raised its holdings in shares of Capital City Bank Group by 9.6% during the first quarter. Heartland Advisors Inc. now owns 608,610 shares of the financial services provider’s stock worth $16,858,000 after acquiring an additional 53,450 shares in the last quarter. Isthmus Partners LLC raised its stake in shares of Capital City Bank Group by 50.3% during the 1st quarter. Isthmus Partners LLC now owns 107,583 shares of the financial services provider’s stock worth $2,980,000 after purchasing an additional 35,997 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of Capital City Bank Group during the 1st quarter valued at about $585,000. Thomasville National Bank grew its stake in shares of Capital City Bank Group by 17.8% in the 1st quarter. Thomasville National Bank now owns 82,704 shares of the financial services provider’s stock valued at $2,291,000 after buying an additional 12,500 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Capital City Bank Group by 7.4% in the first quarter. Acadian Asset Management LLC now owns 163,375 shares of the financial services provider’s stock worth $4,524,000 after buying an additional 11,269 shares during the last quarter. Institutional investors and hedge funds own 44.59% of the company’s stock.

Capital City Bank Group Stock Performance

The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.12. The stock has a market cap of $591.38 million, a P/E ratio of 10.90 and a beta of 0.55. The firm’s 50-day moving average is $28.09 and its two-hundred day moving average is $27.85.

About Capital City Bank Group

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