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

Capital City Bank Group (NASDAQ:CCBG) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. 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 analysts’ consensus estimates of $0.90 by $0.05. The business 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders 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 yield of 2.1%. Capital City Bank Group’s dividend payout ratio is currently 30.00%.

Analyst Ratings Changes

Several research firms have recently weighed in on CCBG. Capital One Financial set a $49.50 target price on shares of Capital City Bank Group in a research report on Tuesday, April 21st. 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. Keefe, Bruyette & Woods lifted 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. Weiss Ratings reissued a “buy (b)” rating on shares of Capital City Bank Group in a research note on Wednesday, June 24th. Finally, Wall Street Zen lowered Capital City Bank Group from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.75.

Institutional Trading of Capital City Bank Group

A number of hedge funds have recently made changes to their positions in CCBG. Empowered Funds LLC lifted its position in shares of Capital City Bank Group by 9.7% in 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 grew its position in Capital City Bank Group by 32.9% during the first 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 in the last quarter. Renaissance Technologies LLC increased its stake 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 buying an additional 10,400 shares during the period. Inceptionr LLC acquired a new position in Capital City Bank Group in the 1st quarter valued at approximately $510,000. Finally, Dimensional Fund Advisors LP lifted its position in Capital City Bank Group by 0.4% in the 1st 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 hedge funds and other institutional investors.

Capital City Bank Group Trading Down 1.7%

The business’s 50-day simple moving average is $47.62 and its 200-day simple moving average is $45.24. The company has a market cap of $870.90 million, a PE ratio of 14.15 and a beta of 0.31. The company has a current ratio of 0.79, a quick 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.