Capital City Bank Group (NASDAQ:CCBG) Hits New 52-Week High on Strong Earnings

Capital City Bank Group (NASDAQ:CCBG) hit a new 52-week high during trading on Tuesday following a better than expected earnings announcement. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Capital City Bank Group had a net margin of 21.01% and a return on equity of 11.10%. The firm had revenue of $63.88 million for the quarter, compared to analysts’ expectations of $64.25 million.

Capital City Bank Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.27 per share. 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 30.59%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Weiss Ratings reissued 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. Keefe, Bruyette & Woods lifted their price objective on Capital City Bank Group from $45.00 to $50.00 and gave the stock a “market perform” rating in a report on Tuesday, April 21st. Capital One Financial set a $49.50 price objective on Capital City Bank Group in a research note on Tuesday, April 21st. Finally, Wall Street Zen cut Capital City Bank Group from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $49.75.

Institutional Trading of Capital City Bank Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in Capital City Bank Group by 24.1% in the first quarter. AQR Capital Management LLC now owns 12,177 shares of the financial services provider’s stock valued at $438,000 after acquiring an additional 2,362 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Capital City Bank Group by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,175 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 327 shares during the period. Empowered Funds LLC raised its position in Capital City Bank Group by 8.1% in the first quarter. Empowered Funds LLC now owns 28,079 shares of the financial services provider’s stock valued at $1,010,000 after purchasing an additional 2,115 shares during the period. Jane Street Group LLC acquired a new position in shares of Capital City Bank Group in the 1st quarter valued at $555,000. Finally, Rhumbline Advisers lifted its stake in shares of Capital City Bank Group by 4.7% in the 2nd quarter. Rhumbline Advisers now owns 21,994 shares of the financial services provider’s stock valued at $865,000 after purchasing an additional 982 shares during the last quarter. Institutional investors and hedge funds own 44.59% of the company’s stock.

Capital City Bank Group Trading Up 3.8%

The firm has a market cap of $886.29 million, a price-to-earnings ratio of 14.68 and a beta of 0.31. 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 company has a 50 day moving average price of $47.52 and a 200 day moving average price of $45.18.

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.