Heartland Advisors Inc. Reduces Position in Capital City Bank Group $CCBG

Heartland Advisors Inc. trimmed its holdings in Capital City Bank Group (NASDAQ:CCBG) by 3.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 500,000 shares of the financial services provider’s stock after selling 18,750 shares during the period. Capital City Bank Group accounts for about 1.1% of Heartland Advisors Inc.’s holdings, making the stock its 13th biggest holding. Heartland Advisors Inc. owned 2.93% of Capital City Bank Group worth $20,895,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. American Century Companies Inc. raised its holdings in Capital City Bank Group by 13.8% in the 2nd quarter. American Century Companies Inc. now owns 293,407 shares of the financial services provider’s stock valued at $11,546,000 after acquiring an additional 35,603 shares during the last quarter. SummerHaven Investment Management LLC acquired a new stake in shares of Capital City Bank Group in the third quarter valued at approximately $852,000. Ameriprise Financial Inc. increased its holdings in shares of Capital City Bank Group by 156.2% in the second quarter. Ameriprise Financial Inc. now owns 30,893 shares of the financial services provider’s stock valued at $1,216,000 after purchasing an additional 18,834 shares during the last quarter. Bailard Inc. purchased a new position in Capital City Bank Group during the third quarter worth approximately $736,000. Finally, Jane Street Group LLC acquired a new position in Capital City Bank Group during the first quarter worth $555,000. 44.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on CCBG shares. Zacks Research downgraded Capital City Bank Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Capital City Bank Group in a report on Monday, December 29th. Capital One Financial set a $45.00 price target on shares of Capital City Bank Group in a research note on Wednesday, January 28th. Wall Street Zen lowered shares of Capital City Bank Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, Keefe, Bruyette & Woods lowered Capital City Bank Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $47.00 to $45.00 in a research report on Wednesday, January 28th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Capital City Bank Group currently has an average rating of “Hold” and an average target price of $45.00.

Capital City Bank Group Stock Up 0.2%

Shares of NASDAQ CCBG opened at $42.82 on Tuesday. The firm has a market cap of $730.94 million, a price-to-earnings ratio of 11.89 and a beta of 0.34. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.08. Capital City Bank Group has a 52-week low of $32.38 and a 52-week high of $46.83. The business’s 50 day moving average is $43.36 and its two-hundred day moving average is $42.16.

Capital City Bank Group (NASDAQ:CCBG) last released its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.80 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.09). The firm had revenue of $63.46 million for the quarter, compared to analysts’ expectations of $64.65 million. Capital City Bank Group had a return on equity of 11.69% and a net margin of 21.47%. Research analysts predict that Capital City Bank Group will post 3.06 EPS for the current year.

Capital City Bank Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, December 1st. Capital City Bank Group’s payout ratio is currently 28.89%.

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.