Capital City Bank Group (NASDAQ:CCBG) Shares Gap Up After Strong Earnings

Shares of Capital City Bank Group, Inc. (NASDAQ:CCBG - Get Free Report) gapped up before the market opened on Monday following a stronger than expected earnings report. The stock had previously closed at $34.30, but opened at $36.33. Capital City Bank Group shares last traded at $35.93, with a volume of 1,794 shares changing hands.

The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.24. The firm had revenue of $61.45 million for the quarter, compared to analysts' expectations of $59.75 million. Capital City Bank Group had a net margin of 19.55% and a return on equity of 11.45%. During the same quarter last year, the company posted $0.74 earnings per share.

Capital City Bank Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.65%. This is a positive change from Capital City Bank Group's previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Monday, March 10th. Capital City Bank Group's payout ratio is presently 28.49%.

Analyst Ratings Changes

Several research firms recently weighed in on CCBG. Keefe, Bruyette & Woods boosted their target price on Capital City Bank Group from $43.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. StockNews.com cut Capital City Bank Group from a "buy" rating to a "hold" rating in a report on Friday, March 7th.

Hedge Funds Weigh In On Capital City Bank Group

Several large investors have recently modified their holdings of the stock. Axecap Investments LLC acquired a new stake in shares of Capital City Bank Group during the 1st quarter worth $883,000. Murphy Middleton Hinkle & Parker Inc. grew its stake in Capital City Bank Group by 38.6% during 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 purchasing an additional 44,572 shares during the period. GAMMA Investing LLC raised its holdings in shares of Capital City Bank Group by 8,208.6% during the first quarter. GAMMA Investing LLC now owns 4,819 shares of the financial services provider's stock valued at $173,000 after purchasing an additional 4,761 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Capital City Bank Group by 43.6% in the 4th quarter. Wellington Management Group LLP now owns 230,744 shares of the financial services provider's stock worth $8,457,000 after purchasing an additional 70,004 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in Capital City Bank Group by 30.9% during the 4th quarter. Lazard Asset Management LLC now owns 1,873 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 442 shares during the last quarter. 44.59% of the stock is owned by institutional investors.

Capital City Bank Group Stock Performance

The company's fifty day moving average price is $35.49 and its 200 day moving average price is $36.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market cap of $618.55 million, a PE ratio of 11.63 and a beta of 0.37.

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.