Capital City Bank Group (NASDAQ:CCBG) Shares Gap Down - Here's Why

Capital City Bank Group (NASDAQ:CCBG - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $41.95, but opened at $40.40. Capital City Bank Group shares last traded at $41.85, with a volume of 34,886 shares changing hands.

Analysts Set New Price Targets

CCBG has been the subject of several recent analyst reports. Wall Street Zen downgraded Capital City Bank Group from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods raised their target price on Capital City Bank Group from $43.00 to $45.00 and gave the company an "outperform" rating in a research note on Wednesday.

Capital City Bank Group Stock Down 1.7%

The firm has a market capitalization of $698.44 million, a price-to-earnings ratio of 11.97 and a beta of 0.36. The stock has a 50 day moving average of $39.00 and a 200 day moving average of $37.09. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.10.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.05. The business had revenue of $63.20 million during the quarter, compared to the consensus estimate of $62.35 million. Capital City Bank Group had a return on equity of 11.74% and a net margin of 20.86%. During the same period last year, the firm earned $0.83 earnings per share. As a group, analysts expect that Capital City Bank Group will post 3.06 earnings per share for the current fiscal year.

Capital City Bank Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Monday, June 9th were paid a $0.24 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.96 dividend on an annualized basis and a yield of 2.34%. Capital City Bank Group's dividend payout ratio (DPR) is 28.07%.

Hedge Funds Weigh In On Capital City Bank Group

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in Capital City Bank Group by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 882,343 shares of the financial services provider's stock worth $32,338,000 after acquiring an additional 9,984 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Capital City Bank Group by 1.6% in the first quarter. Vanguard Group Inc. now owns 759,811 shares of the financial services provider's stock worth $27,323,000 after acquiring an additional 11,624 shares during the last quarter. American Century Companies Inc. lifted its holdings in Capital City Bank Group by 19.0% in the first quarter. American Century Companies Inc. now owns 257,804 shares of the financial services provider's stock worth $9,271,000 after acquiring an additional 41,121 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Capital City Bank Group by 10.5% in the first quarter. Wellington Management Group LLP now owns 255,057 shares of the financial services provider's stock worth $9,172,000 after acquiring an additional 24,313 shares during the last quarter. Finally, Murphy Middleton Hinkle & Parker Inc. lifted its holdings in Capital City Bank Group by 38.6% in the first quarter. Murphy Middleton Hinkle & Parker Inc. now owns 160,191 shares of the financial services provider's stock worth $5,760,000 after acquiring an additional 44,572 shares during the last quarter. 44.59% of the stock is currently owned by institutional investors and hedge funds.

Capital City Bank Group Company Profile

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.