Capital City Bank Group (NASDAQ:CCBG) Reaches New 12-Month High After Better-Than-Expected Earnings

Key Points

• Capital City Bank Group hit a new 52-week high after reporting stronger-than-expected quarterly earnings, with EPS of $0.95 versus the $0.91 consensus estimate.
• The company also highlighted solid profitability, posting a 21.01% net margin and 11.10% return on equity, while its dividend remains attractive at $0.27 per quarter for a 2.1% yield.
• Despite the upbeat results, analyst views remain mixed: the stock carries a Hold consensus rating with an average price target of $49.75, slightly below its recent trading level.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) shares reached a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $52.20 and last traded at $51.83, with a volume of 166034 shares trading hands. The stock had previously closed at $49.93.

The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.91 by $0.04. Capital City Bank Group had a net margin of 21.01% and a return on equity of 11.10%.

Capital City Bank Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Monday, June 1st. Capital City Bank Group's dividend payout ratio is presently 30.59%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CCBG. Brean Capital cut Capital City Bank Group from a "buy" rating to a "neutral" rating in a report on Tuesday, April 21st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Capital City Bank Group in a report on Wednesday, June 24th. Capital One Financial set a $49.50 price target on Capital City Bank Group in a research report on Tuesday, April 21st. Wall Street Zen cut Capital City Bank Group from a "hold" rating to a "sell" rating in a research report on Sunday, May 3rd. Finally, Keefe, Bruyette & Woods boosted their price target on Capital City Bank Group from $45.00 to $50.00 and gave the company a "market perform" rating in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Capital City Bank Group has a consensus rating of "Hold" and an average price target of $49.75.

Institutional Investors Weigh In On Capital City Bank Group

Several large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Capital City Bank Group by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,175 shares of the financial services provider's stock valued at $294,000 after purchasing an additional 327 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Capital City Bank Group by 11.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,200 shares of the financial services provider's stock worth $179,000 after purchasing an additional 420 shares during the last quarter. Swiss National Bank increased its position in shares of Capital City Bank Group by 2.5% during the 4th quarter. Swiss National Bank now owns 28,600 shares of the financial services provider's stock worth $1,218,000 after purchasing an additional 700 shares during the last quarter. Inspire Investing LLC raised its holdings in Capital City Bank Group by 6.9% in the 1st quarter. Inspire Investing LLC now owns 11,772 shares of the financial services provider's stock valued at $512,000 after buying an additional 758 shares during the period. Finally, Mariner LLC raised its holdings in Capital City Bank Group by 7.8% in the 3rd quarter. Mariner LLC now owns 11,104 shares of the financial services provider's stock valued at $464,000 after buying an additional 801 shares during the period. 44.59% of the stock is currently owned by hedge funds and other institutional investors.

Capital City Bank Group Price Performance

The stock's 50-day simple moving average is $47.40 and its 200 day simple moving average is $45.11. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.06. The company has a market cap of $886.29 million, a price-to-earnings ratio of 14.68 and a beta of 0.31.

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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