Maltese Capital Management LLC Reduces Holdings in Capital City Bank Group $CCBG

Maltese Capital Management LLC reduced its position in Capital City Bank Group (NASDAQ:CCBG) by 14.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 72,400 shares of the financial services provider’s stock after selling 12,600 shares during the quarter. Maltese Capital Management LLC’s holdings in Capital City Bank Group were worth $3,026,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Capital City Bank Group by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,175 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 327 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Capital City Bank Group in the third quarter valued at about $28,000. Panagora Asset Management Inc. raised its position in shares of Capital City Bank Group by 1.1% in the second quarter. Panagora Asset Management Inc. now owns 77,009 shares of the financial services provider’s stock valued at $3,030,000 after buying an additional 837 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Capital City Bank Group by 4.7% in the second quarter. Rhumbline Advisers now owns 21,994 shares of the financial services provider’s stock worth $865,000 after buying an additional 982 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of Capital City Bank Group by 140.7% in the third quarter. CWM LLC now owns 2,270 shares of the financial services provider’s stock worth $95,000 after buying an additional 1,327 shares in the last quarter. Hedge funds and other institutional investors own 44.59% of the company’s stock.

Wall Street Analysts Forecast Growth

CCBG has been the subject of several research reports. Capital One Financial set a $45.00 price objective on shares of Capital City Bank Group in a research note on Wednesday, January 28th. Zacks Research cut Capital City Bank Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Keefe, Bruyette & Woods lowered Capital City Bank Group from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $47.00 to $45.00 in a research report on Wednesday, January 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Capital City Bank Group in a research report on Monday, December 29th. Finally, Wall Street Zen raised Capital City Bank Group from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $45.00.

Capital City Bank Group Stock Performance

NASDAQ:CCBG opened at $42.64 on Tuesday. The company’s 50-day moving average is $43.04 and its two-hundred day moving average is $42.43. Capital City Bank Group has a 1-year low of $32.38 and a 1-year high of $46.83. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $731.28 million, a price-to-earnings ratio of 11.84 and a beta of 0.32.

Capital City Bank Group (NASDAQ:CCBG) last announced its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.09). The firm had revenue of $63.46 million for the quarter, compared to analyst estimates of $64.65 million. Capital City Bank Group had a return on equity of 11.55% and a net margin of 21.47%. Analysts forecast that Capital City Bank Group will post 3.06 EPS for the current year.

Capital City Bank Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Monday, March 9th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.5%. This is a positive change from Capital City Bank Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Monday, March 9th. Capital City Bank Group’s payout ratio is 30.00%.

About Capital City Bank Group

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.