Capital City Bank Group (NASDAQ:CCBG) Shares Down 7.4% Following Weak Earnings

Capital City Bank Group (NASDAQ:CCBG)’s stock price traded down 7.4% during mid-day trading on Wednesday following a dissappointing earnings announcement. The company traded as low as $39.39 and last traded at $39.22. 48,519 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 68,364 shares. The stock had previously closed at $42.36.

The financial services provider reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.09). The business had revenue of $63.46 million for the quarter, compared to the consensus estimate of $64.65 million. Capital City Bank Group had a net margin of 21.47% and a return on equity of 11.69%.

Capital City Bank Group Dividend Announcement

The business also recently announced 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 yield of 2.5%. Capital City Bank Group’s payout ratio is 28.89%.

Analyst Ratings Changes

CCBG has been the topic of several research analyst reports. Zacks Research upgraded shares of Capital City Bank Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Capital City Bank Group in a research report on Monday, December 29th. Capital One Financial set a $45.00 price target on Capital City Bank Group in a report on Wednesday. Finally, Keefe, Bruyette & Woods downgraded Capital City Bank Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $47.00 to $45.00 in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $45.00.

Institutional Trading of Capital City Bank Group

Several hedge funds have recently modified their holdings of the company. Bailard Inc. bought a new stake in shares of Capital City Bank Group during the third quarter worth $736,000. American Century Companies Inc. lifted its position in Capital City Bank Group by 13.8% during the 2nd quarter. American Century Companies Inc. now owns 293,407 shares of the financial services provider’s stock worth $11,546,000 after buying an additional 35,603 shares in the last quarter. Integrated Quantitative Investments LLC bought a new stake in Capital City Bank Group during the 2nd quarter worth about $336,000. Inspire Investing LLC grew its holdings in Capital City Bank Group by 7.8% during the 2nd quarter. Inspire Investing LLC now owns 33,117 shares of the financial services provider’s stock worth $1,303,000 after acquiring an additional 2,393 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its stake in shares of Capital City Bank Group by 18.9% in the second quarter. KLP Kapitalforvaltning AS now owns 20,100 shares of the financial services provider’s stock worth $791,000 after acquiring an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 44.59% of the company’s stock.

Capital City Bank Group Price Performance

The stock’s 50-day moving average price is $43.17 and its 200-day moving average price is $41.97. The company has a market capitalization of $707.04 million, a price-to-earnings ratio of 11.51 and a beta of 0.36. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.08.

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.