Capital City Bank Group (NASDAQ:CCBG) Shares Gap Up After Strong Earnings

Capital City Bank Group (NASDAQ:CCBG) shares gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $49.93, but opened at $52.22. Capital City Bank Group shares last traded at $50.6760, with a volume of 4,859 shares traded.

The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. Capital City Bank Group had a return on equity of 11.10% and a net margin of 21.01%.The business had revenue of $63.88 million during the quarter, compared to analyst estimates of $64.25 million.

Capital City Bank Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a dividend of $0.27 per share. The ex-dividend date was Monday, June 1st. This represents a $1.08 annualized dividend and a dividend yield of 2.1%. Capital City Bank Group’s dividend payout ratio is presently 30.59%.

Wall Street Analyst Weigh In

CCBG has been the topic of a number of research reports. Capital One Financial set a $49.50 price objective on Capital City Bank Group in a research note on Tuesday, April 21st. Keefe, Bruyette & Woods lifted their target price on shares of Capital City Bank Group from $45.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 21st. Weiss Ratings restated a “buy (b)” rating on shares of Capital City Bank Group in a research note on Wednesday, June 24th. Brean Capital lowered shares of Capital City Bank Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 21st. Finally, Wall Street Zen downgraded Capital City Bank Group from a “hold” rating to a “sell” rating in a research report on Sunday, May 3rd. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $49.75.

Hedge Funds Weigh In On Capital City Bank Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Legato Capital Management LLC purchased a new position in Capital City Bank Group in the 4th quarter worth approximately $469,000. Jefferies Financial Group Inc. purchased a new stake in shares of Capital City Bank Group in the 4th quarter worth about $724,000. Ameriprise Financial Inc. boosted its position in Capital City Bank Group by 156.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 30,893 shares of the financial services provider’s stock valued at $1,216,000 after acquiring an additional 18,834 shares in the last quarter. Swiss National Bank boosted its position in shares of Capital City Bank Group by 2.5% during the fourth quarter. Swiss National Bank now owns 28,600 shares of the financial services provider’s stock valued at $1,218,000 after purchasing an additional 700 shares in the last quarter. Finally, Empowered Funds LLC grew its position in shares of Capital City Bank Group by 10.4% in the 4th quarter. Empowered Funds LLC now owns 38,021 shares of the financial services provider’s stock worth $1,619,000 after buying an additional 3,584 shares during the period. 44.59% of the stock is currently owned by hedge funds and other institutional investors.

Capital City Bank Group Stock Down 1.6%

The company’s fifty day moving average price is $47.52 and its 200-day moving average price is $45.18. The stock has a market capitalization of $872.36 million, a PE ratio of 14.45 and a beta of 0.31. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.06.

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.