Bank of New York Mellon Corp Acquires Shares of 78,198 Capital City Bank Group $CCBG

Key Points

• Bank of New York Mellon acquired 78,198 shares of Capital City Bank Group, valued at approximately $3.87 million, giving it a 0.46% stake. Institutional investors collectively own 44.59% of the company.
• Capital City Bank Group exceeded quarterly expectations, reporting $0.95 EPS versus the $0.90 consensus estimate and revenue of $64.80 million. Analysts project full-year EPS of $3.69.
• The company declared a quarterly dividend of $0.27, equivalent to $1.08 annually and a 2.1% yield. Analysts maintain a consensus “Hold” rating with a target price of $51.75.

Bank of New York Mellon Corp acquired a new stake in shares of Capital City Bank Group (NASDAQ:CCBG - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 78,198 shares of the financial services provider's stock, valued at approximately $3,865,000. Bank of New York Mellon Corp owned about 0.46% of Capital City Bank Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings 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 worth $38,337,000 after purchasing an additional 3,468 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Capital City Bank Group by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 547,871 shares of the financial services provider's stock valued at $23,323,000 after buying an additional 133,923 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Capital City Bank Group by 997.3% during the third quarter. Bank of America Corp DE now owns 192,495 shares of the financial services provider's stock valued at $8,044,000 after buying an additional 174,953 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Capital City Bank Group by 6.3% during the first quarter. Renaissance Technologies LLC now owns 174,871 shares of the financial services provider's stock worth $7,600,000 after buying an additional 10,400 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Capital City Bank Group by 45.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 86,575 shares of the financial services provider's stock worth $3,685,000 after buying an additional 26,999 shares in the last quarter. 44.59% of the stock is owned by institutional investors.

Capital City Bank Group Stock Performance

Shares of CCBG stock opened at $51.84 on Friday. The firm has a market cap of $886.98 million, a price-to-earnings ratio of 14.40 and a beta of 0.32. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.78 and a current ratio of 0.79. 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 $51.04 and its two-hundred day simple moving average is $47.12.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $64.80 million during the quarter, compared to analyst estimates of $64.25 million. Capital City Bank Group had a net margin of 21.37% and a return on equity of 11.11%. As a group, equities analysts forecast that Capital City Bank Group will post 3.69 earnings per share for the current year.

Capital City Bank Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Capital City Bank Group's dividend payout ratio (DPR) is currently 30.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CCBG shares. Keefe, Bruyette & Woods raised their price objective on Capital City Bank Group from $52.00 to $54.00 and gave the company a "market perform" rating in a research note on Wednesday, July 22nd. Wall Street Zen upgraded shares of Capital City Bank Group from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Capital City Bank Group in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Capital City Bank Group has an average rating of "Hold" and a consensus target price of $51.75.

Capital City Bank Group 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.