Capital City Bank Group (NASDAQ:CCBG) Shares Gap Up on Better-Than-Expected Earnings

Capital City Bank Group (NASDAQ:CCBG)’s share price gapped up before the market opened on Wednesday following a better than expected earnings announcement. 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. The firm had revenue of $63.88 million during the quarter, compared to analyst estimates 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Monday, June 1st. Capital City Bank Group’s dividend payout ratio (DPR) is presently 30.00%.

Analysts Set New Price Targets

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

Institutional Trading of Capital City Bank Group

A number of institutional investors have recently made changes to their positions in the company. Empowered Funds LLC increased its position in shares of Capital City Bank Group by 9.7% during the first quarter. Empowered Funds LLC now owns 41,716 shares of the financial services provider’s stock worth $1,813,000 after purchasing an additional 3,695 shares in the last quarter. Quantinno Capital Management LP raised its stake in Capital City Bank Group by 32.9% in the 1st quarter. Quantinno Capital Management LP now owns 12,659 shares of the financial services provider’s stock valued at $550,000 after purchasing an additional 3,137 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Capital City Bank Group by 6.3% in the 1st quarter. Renaissance Technologies LLC now owns 174,871 shares of the financial services provider’s stock valued at $7,600,000 after purchasing an additional 10,400 shares in the last quarter. Inceptionr LLC purchased a new stake in shares of Capital City Bank Group during the first quarter worth $510,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of 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 in the last quarter. 44.59% of the stock is owned by institutional investors and hedge funds.

Capital City Bank Group Price Performance

The stock’s 50-day moving average price is $47.72 and its 200 day moving average price is $45.30. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $871.25 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.