Capital City Bank Group (NASDAQ:CCBG) Announces Earnings Results

Key Points

• Capital City Bank Group reported earnings of $0.93 per share for the quarter, exceeding analyst expectations of $0.87 and showing an increase from $0.78 per share in the same period last year.
• The company announced an increase in its quarterly dividend to $0.26 per share, representing a dividend yield of 2.5% with a payout ratio of 30.41%.
• Analysts have a consensus rating of "Moderate Buy" for Capital City Bank Group, with price targets ranging from $43.00 to $45.00 following recent adjustments.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) issued its earnings results on Tuesday. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.06, RTT News reports. Capital City Bank Group had a net margin of 20.86% and a return on equity of 11.56%. During the same quarter in the previous year, the firm earned $0.78 earnings per share.

Capital City Bank Group Trading Up 2.6%

Shares of NASDAQ:CCBG opened at $40.99 on Tuesday. Capital City Bank Group has a 1 year low of $32.38 and a 1 year high of $44.69. The firm has a market capitalization of $699.58 million, a price-to-earnings ratio of 11.99 and a beta of 0.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.83 and a quick ratio of 0.82. The business's 50 day moving average price is $42.37 and its 200-day moving average price is $39.53.

Capital City Bank Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Monday, September 8th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, September 8th. This is a positive change from Capital City Bank Group's previous quarterly dividend of $0.24. Capital City Bank Group's dividend payout ratio is currently 30.41%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Zacks Research lowered Capital City Bank Group from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Keefe, Bruyette & Woods raised their price objective on shares of Capital City Bank Group from $43.00 to $45.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Capital City Bank Group in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Capital City Bank Group has a consensus rating of "Moderate Buy" and an average target price of $45.00.

Hedge Funds Weigh In On Capital City Bank Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in shares of Capital City Bank Group in the second quarter valued at about $150,000. Tower Research Capital LLC TRC lifted its stake in Capital City Bank Group by 1,282.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,106 shares of the financial services provider's stock valued at $162,000 after buying an additional 3,809 shares in the last quarter. Vident Advisory LLC acquired a new stake in Capital City Bank Group in the 2nd quarter worth about $201,000. The Manufacturers Life Insurance Company purchased a new stake in Capital City Bank Group during the 2nd quarter worth approximately $222,000. Finally, Thrivent Financial for Lutherans acquired a new position in shares of Capital City Bank Group during the second quarter valued at approximately $284,000. 44.59% of the stock is owned by hedge funds and other institutional investors.

About Capital City Bank Group

Capital City Bank Group, Inc operates as the financial holding company for Capital City Bank that provides a range of banking- related services to individual and corporate clients. The company offers financing for commercial business properties, equipment, inventories, and accounts receivable, as well as commercial leasing and letters of credit; treasury management services; and merchant credit card transaction processing services.

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