74,760 Shares in Capital City Bank Group $CCBG Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 74,760 shares of Capital City Bank Group in the second quarter, worth approximately $3.7 million and representing a 0.44% stake. Institutional investors collectively own 44.59% of the company.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and an average price target of $51.75, despite one Buy rating and a recent price-target increase from Keefe, Bruyette & Woods.
• Capital City Bank Group exceeded quarterly expectations, reporting $0.95 EPS versus the $0.90 estimate and $64.8 million in revenue. The company also paid a quarterly dividend of $0.27 per share, equivalent to a 2.2% annualized yield.

Bank of America Corp DE acquired a new stake in Capital City Bank Group (NASDAQ:CCBG - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 74,760 shares of the financial services provider's stock, valued at approximately $3,695,000. Bank of America Corp DE owned 0.44% of Capital City Bank Group at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in Capital City Bank Group in the 2nd quarter valued at about $83,449,000. Dimensional Fund Advisors LP raised its stake in Capital City Bank Group by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 882,114 shares of the financial services provider's stock valued at $38,337,000 after acquiring an additional 3,468 shares during the last quarter. Heartland Advisors Inc. acquired a new stake in Capital City Bank Group during the 2nd quarter worth approximately $24,710,000. Renaissance Technologies LLC lifted its position in Capital City Bank Group by 6.3% during the 1st quarter. Renaissance Technologies LLC now owns 174,871 shares of the financial services provider's stock worth $7,600,000 after acquiring an additional 10,400 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Capital City Bank Group in the 2nd quarter valued at approximately $3,865,000. 44.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Capital City Bank Group from $52.00 to $54.00 and gave the stock a "market perform" rating in a report on Wednesday, July 22nd. Wall Street Zen upgraded shares of Capital City Bank Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Capital City Bank Group in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $51.75.

Capital City Bank Group Price Performance

Capital City Bank Group stock opened at $48.84 on Wednesday. The firm has a market capitalization of $835.65 million, a PE ratio of 13.57 and a beta of 0.32. Capital City Bank Group has a 52 week low of $38.27 and a 52 week high of $53.60. The firm's 50-day simple moving average is $51.15 and its 200 day simple moving average is $48.03. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.06.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. The firm had revenue of $64.80 million during the quarter, compared to the consensus estimate of $64.25 million. Capital City Bank Group had a return on equity of 11.11% and a net margin of 21.37%. On average, equities research analysts predict that Capital City Bank Group will post 3.69 EPS for the current fiscal year.

Capital City Bank Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Tuesday, September 8th. Capital City Bank Group's dividend payout ratio is presently 30.00%.

Capital City Bank Group Profile

Capital City Bank Group, Inc is a bank holding company headquartered in Tallahassee, Florida. Through its principal subsidiary, Capital City Bank, the company provides banking and financial services to individuals, families, businesses and governmental entities.

Its services include deposit accounts, consumer and commercial lending, residential mortgages, treasury management, online and mobile banking, investment and trust services, and other wealth-management solutions. The bank also offers services designed to support small businesses and commercial customers, including lines of credit, real estate financing and cash-management tools.

Founded in 1895, Capital City Bank has built a regional presence in North Florida and parts of Georgia, operating through community banking offices and digital channels.

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