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

Capital City Bank Group (NASDAQ:CCBG)’s stock price gapped up prior to trading 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Capital City Bank Group had a return on equity of 11.10% and a net margin of 21.01%.The company had revenue of $63.88 million for the quarter, compared to analysts’ expectations of $64.25 million.

Capital City Bank Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.08 annualized dividend and a yield of 2.1%. Capital City Bank Group’s dividend payout ratio (DPR) is presently 30.59%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Capital One Financial set a $49.50 target price on Capital City Bank Group in a report on Tuesday, April 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Capital City Bank Group in a research report on Wednesday, June 24th. Wall Street Zen cut Capital City Bank Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 3rd. 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. Finally, Keefe, Bruyette & Woods increased their target price on shares of Capital City Bank Group from $45.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $49.75.

Institutional Investors Weigh In On Capital City Bank Group

Hedge funds have recently made changes to their positions in the business. Empowered Funds LLC boosted its holdings in shares of Capital City Bank Group by 9.7% in the 1st quarter. Empowered Funds LLC now owns 41,716 shares of the financial services provider’s stock worth $1,813,000 after buying an additional 3,695 shares during the last quarter. Quantinno Capital Management LP raised its position in Capital City Bank Group by 32.9% in the first quarter. Quantinno Capital Management LP now owns 12,659 shares of the financial services provider’s stock worth $550,000 after acquiring an additional 3,137 shares during the period. Renaissance Technologies LLC boosted its stake in Capital City Bank Group by 6.3% in the first quarter. Renaissance Technologies LLC now owns 174,871 shares of the financial services provider’s stock valued at $7,600,000 after acquiring an additional 10,400 shares during the last quarter. Inceptionr LLC purchased a new position in Capital City Bank Group in the first quarter valued at about $510,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Capital City Bank Group by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 882,114 shares of the financial services provider’s stock valued at $38,337,000 after acquiring an additional 3,468 shares during the period. 44.59% of the stock is currently owned by institutional investors.

Capital City Bank Group Stock Down 1.6%

The stock’s 50-day moving average price is $47.52 and its two-hundred day moving average price is $45.18. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $872.36 million, a P/E ratio of 14.45 and a beta of 0.31.

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.