Capital City Bank Group (NASDAQ:CCBG) Reaches New 52-Week High on Better-Than-Expected Earnings

Capital City Bank Group (NASDAQ:CCBG) hit a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $52.20 and last traded at $51.83, with a volume of 166034 shares. The stock had previously closed at $49.93.

The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. The business had revenue of $63.88 million during the quarter, compared to the consensus estimate of $64.25 million. Capital City Bank Group had a return on equity of 11.20% and a net margin of 21.37%.

Capital City Bank Group Dividend Announcement

The business also recently disclosed 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 of this dividend was Monday, June 1st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.1%. Capital City Bank Group’s dividend payout ratio is currently 30.00%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CCBG shares. Brean Capital cut shares of Capital City Bank Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of Capital City Bank Group from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of Capital City Bank Group from $52.00 to $54.00 and gave the company a “market perform” rating in a research note on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Capital City Bank Group in a report on Wednesday, June 24th. Finally, Capital One Financial set a $49.50 price objective on Capital City Bank Group in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.75.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in Capital City Bank Group by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 882,114 shares of the financial services provider’s stock worth $38,337,000 after buying an additional 3,468 shares during the period. Wellington Management Group LLP raised its stake in shares of Capital City Bank Group by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 547,871 shares of the financial services provider’s stock valued at $23,323,000 after acquiring an additional 133,923 shares during the period. Bank of America Corp DE lifted its holdings in shares of Capital City Bank Group by 997.3% during the 3rd quarter. Bank of America Corp DE now owns 192,495 shares of the financial services provider’s stock valued at $8,044,000 after acquiring an additional 174,953 shares in the last quarter. Renaissance Technologies LLC boosted its position in Capital City Bank Group by 6.3% during the 1st quarter. Renaissance Technologies LLC now owns 174,871 shares of the financial services provider’s stock worth $7,600,000 after purchasing an additional 10,400 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Capital City Bank Group by 45.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 86,575 shares of the financial services provider’s stock worth $3,685,000 after purchasing an additional 26,999 shares during the period. Hedge funds and other institutional investors own 44.59% of the company’s stock.

Capital City Bank Group Trading Down 1.7%

The firm has a fifty day moving average of $47.62 and a 200-day moving average of $45.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $870.90 million, a price-to-earnings ratio of 14.15 and a beta of 0.31.

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.