Capital City Bank Group (NASDAQ:CCBG) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Capital City Bank Group from “hold” to “sell.” However, other analysts remain more neutral, with an average rating of “Hold” and an average price target of $51.75.
• CCBG shares opened at $48.10, down 1.0%, with a market capitalization of approximately $823 million. The stock has traded between $38.27 and $53.60 over the past 52 weeks.
• The company exceeded quarterly expectations, reporting earnings of $0.95 per share versus the $0.90 consensus estimate and revenue of $64.8 million. Institutional investors own 44.59% of the stock, including newly reported positions from BlackRock and Heartland Advisors.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other analysts also recently issued reports on the stock. Keefe, Bruyette & Woods increased their target price 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, July 22nd. Weiss Ratings upgraded shares of Capital City Bank Group from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday. 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 company has an average rating of "Hold" and an average target price of $51.75.

Capital City Bank Group Trading Down 1.0%

CCBG stock opened at $48.10 on Friday. The company has a market cap of $823.14 million, a price-to-earnings ratio of 13.36 and a beta of 0.36. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $50.68 and a 200-day simple moving average of $48.36. Capital City Bank Group has a 52 week low of $38.27 and a 52 week high of $53.60.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. The business had revenue of $64.80 million for the quarter, compared to analyst estimates of $64.25 million. Capital City Bank Group had a return on equity of 11.11% and a net margin of 21.37%. On average, equities research analysts expect that Capital City Bank Group will post 3.69 EPS for the current year.

Institutional Investors Weigh In On Capital City Bank Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Capital City Bank Group during the second quarter worth about $83,449,000. Heartland Advisors Inc. bought a new stake in Capital City Bank Group in the second quarter valued at about $24,710,000. Bank of New York Mellon Corp acquired a new stake in Capital City Bank Group during the second quarter valued at approximately $3,865,000. Bank of America Corp DE bought a new position in Capital City Bank Group during the 2nd quarter worth approximately $3,695,000. Finally, Empowered Funds LLC bought a new position in Capital City Bank Group during the 2nd quarter worth approximately $2,220,000. 44.59% of the stock is currently owned by hedge funds and other institutional investors.

Capital City Bank Group Company Profile

Capital City Bank Group, Inc is a bank holding company headquartered in Tallahassee, Florida. Through its subsidiary, Capital City Bank, the company provides financial services to consumers, businesses, and institutions in North Florida and parts of Central Florida and Georgia.

Capital City Bank offers deposit products, checking and savings accounts, residential and commercial loans, mortgages, consumer financing, and other lending services. Its banking platform also includes online and mobile banking, treasury management, payment services, and other tools designed to support personal and business customers.

The company provides additional financial services through wealth management, trust, investment, and brokerage offerings.

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