Capital City Bank Group (NASDAQ:CCBG) Downgraded by Brean Capital to "Neutral"

Key Points

• Brean Capital downgraded Capital City Bank Group from a "buy" to a "neutral" rating, and the stock's consensus sits at a Hold with an average target price of $47.50.
• CCBG recently beat expectations, reporting $0.92 EPS versus $0.85 expected and revenue of $84.92M versus $63.25M, with shares trading near $46.90 and a PE of 13.03.
• Several institutional investors raised their stakes during the quarter (including Wellington, HSBC and Millennium), leaving institutions owning about 44.6% of the company.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) was downgraded by equities researchers at Brean Capital from a "buy" rating to a "neutral" rating in a note issued to investors on Tuesday.

Several other brokerages have also recently weighed in on CCBG. Capital One Financial set a $45.00 target price on Capital City Bank Group in a report on Wednesday, January 28th. Weiss Ratings reiterated a "buy (b)" rating on shares of Capital City Bank Group in a report on Friday, March 27th. Wall Street Zen cut Capital City Bank Group from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Keefe, Bruyette & Woods cut Capital City Bank Group from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $47.00 to $45.00 in a report on Wednesday, January 28th. Finally, Zacks Research cut Capital City Bank Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $47.50.

Capital City Bank Group Trading Up 0.1%

Shares of CCBG stock opened at $46.90 on Tuesday. The stock has a market capitalization of $804.34 million, a PE ratio of 13.03 and a beta of 0.30. Capital City Bank Group has a 1-year low of $34.83 and a 1-year high of $48.78. The business has a 50-day moving average of $43.56 and a 200 day moving average of $42.67. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.83 and a quick ratio of 0.82.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) last issued its earnings results on Monday, April 20th. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.07. The company had revenue of $84.92 million during the quarter, compared to analysts' expectations of $63.25 million. Capital City Bank Group had a return on equity of 11.55% and a net margin of 21.47%. As a group, sell-side analysts anticipate that Capital City Bank Group will post 3.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC lifted its stake in shares of Capital City Bank Group by 32.6% in the 4th quarter. Hsbc Holdings PLC now owns 11,869 shares of the financial services provider's stock valued at $502,000 after purchasing an additional 2,920 shares during the period. Empowered Funds LLC lifted its stake in shares of Capital City Bank Group by 10.4% in the 4th quarter. Empowered Funds LLC now owns 38,021 shares of the financial services provider's stock valued at $1,619,000 after purchasing an additional 3,584 shares during the period. Wellington Management Group LLP lifted its stake in shares of Capital City Bank Group by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 547,871 shares of the financial services provider's stock valued at $23,323,000 after purchasing an additional 133,923 shares during the period. Occudo Quantitative Strategies LP purchased a new position in shares of Capital City Bank Group in the 4th quarter valued at approximately $273,000. Finally, Millennium Management LLC lifted its stake in shares of Capital City Bank Group by 50.1% in the 4th quarter. Millennium Management LLC now owns 66,856 shares of the financial services provider's stock valued at $2,846,000 after purchasing an additional 22,315 shares during the period. Hedge funds and other institutional investors own 44.59% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.