Capital City Bank Group (NASDAQ:CCBG) Releases Earnings Results, Beats Estimates By $0.07 EPS

Key Points

• Capital City Bank Group reported quarterly EPS of $0.92, beating estimates by $0.07 (consensus $0.85), and posted revenue of $84.92 million versus estimates of $63.25 million; net margin was 21.47% and return on equity 11.55%.
• The company raised its quarterly dividend to $0.27 (from $0.26), implying an annualized payout of $1.08 and a yield of 2.3% with a 30% payout ratio.
• Shares trade near $46.90 with a market cap of about $804 million and a PE of 13.0, while analysts show mixed views and the consensus rating is a "Hold" with a $45 price target.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) issued its quarterly earnings data on Monday. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.07, Zacks reports. The company had revenue of $84.92 million for the quarter, compared to analyst estimates of $63.25 million. Capital City Bank Group had a net margin of 21.47% and a return on equity of 11.55%.

Capital City Bank Group Price Performance

Shares of CCBG opened at $46.90 on Tuesday. 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 company's fifty day moving average price is $43.56 and its 200-day moving average price is $42.67. Capital City Bank Group has a 1-year low of $34.83 and a 1-year high of $48.78. The firm has a market capitalization of $804.34 million, a PE ratio of 13.03 and a beta of 0.30.

Capital City Bank Group Increases Dividend

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

Institutional Trading of Capital City Bank Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in shares of Capital City Bank Group by 10.4% during the fourth quarter. Empowered Funds LLC now owns 38,021 shares of the financial services provider's stock worth $1,619,000 after purchasing an additional 3,584 shares during the period. Wellington Management Group LLP increased its holdings in 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 worth $23,323,000 after buying an additional 133,923 shares during the period. Occudo Quantitative Strategies LP purchased a new position in Capital City Bank Group during the 4th quarter worth approximately $273,000. Millennium Management LLC raised its position in Capital City Bank Group by 50.1% during the 4th quarter. Millennium Management LLC now owns 66,856 shares of the financial services provider's stock worth $2,846,000 after buying an additional 22,315 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in Capital City Bank Group by 5.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 75,193 shares of the financial services provider's stock valued at $3,201,000 after acquiring an additional 3,584 shares during the period. Institutional investors and hedge funds own 44.59% of the company's stock.

Wall Street Analyst Weigh In

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