Capital City Bank Group (NASDAQ:CCBG) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Key Points

• Beat estimates: Capital City Bank Group reported quarterly EPS of $0.92, beating consensus by $0.09 (consensus $0.83), with a return on equity of 11.55% and a net margin of 21.47%.
• Dividend increase: The company raised its quarterly dividend to $0.27 (from $0.26), equivalent to a $1.08 annualized payout, a 2.3% yield and a 30% payout ratio.
• Shares trade around $46.83 (market cap ≈ $803M, P/E 13.0) and analyst sentiment is mixed — the stock carries an average "Hold" rating with a $45 target after several downgrades.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) released its quarterly earnings data on Monday. The financial services provider reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.09, Zacks reports. Capital City Bank Group had a return on equity of 11.55% and a net margin of 21.47%.

Capital City Bank Group Price Performance

Shares of NASDAQ CCBG opened at $46.83 on Monday. The firm has a market cap of $803.13 million, a P/E ratio of 13.01 and a beta of 0.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.83. Capital City Bank Group has a 1 year low of $34.83 and a 1 year high of $47.69. The firm's 50 day moving average price is $43.48 and its 200 day moving average price is $42.63.

Capital City Bank Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Monday, March 9th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, March 9th. This is a positive change from Capital City Bank Group's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 2.3%. Capital City Bank Group's payout ratio is currently 30.00%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CCBG. AQR Capital Management LLC increased its stake 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 purchasing an additional 2,362 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 worth $294,000 after acquiring an additional 327 shares during the last quarter. Empowered Funds LLC increased its position in Capital City Bank Group by 8.1% during the 1st quarter. Empowered Funds LLC now owns 28,079 shares of the financial services provider's stock worth $1,010,000 after purchasing an additional 2,115 shares in the last quarter. Jane Street Group LLC purchased a new position in Capital City Bank Group in the first quarter valued at about $555,000. Finally, Rhumbline Advisers lifted its stake in shares of Capital City Bank Group by 4.7% during the second quarter. Rhumbline Advisers now owns 21,994 shares of the financial services provider's stock worth $865,000 after purchasing an additional 982 shares in the last quarter. Hedge funds and other institutional investors own 44.59% of the company's stock.

Analyst Upgrades and Downgrades

CCBG has been the topic of several recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Capital City Bank Group in a research note on Friday, March 27th. Keefe, Bruyette & Woods downgraded Capital City Bank Group from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $47.00 to $45.00 in a research note on Wednesday, January 28th. Wall Street Zen lowered Capital City Bank Group from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Capital One Financial set a $45.00 price target on Capital City Bank Group in a report on Wednesday, January 28th. Finally, Zacks Research downgraded shares of Capital City Bank Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Capital City Bank Group has an average rating of "Hold" and an average target price of $45.00.

Capital City Bank Group Company Profile

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.

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