BlackRock Inc. Invests $83.45 Million in Capital City Bank Group $CCBG

Key Points

• BlackRock acquired a new 1.69 million-share stake in Capital City Bank Group valued at approximately $83.45 million, representing about 9.87% of the company. Institutional investors and hedge funds collectively own 44.59% of CCBG.
• Analysts maintain a generally cautious outlook, with one Buy rating and three Hold ratings. The consensus rating is Hold, with an average price target of $51.75.
• CCBG exceeded quarterly earnings expectations, reporting $0.95 EPS versus the $0.90 consensus and $64.8 million in revenue. The company also declared a $0.27 quarterly dividend, equivalent to a 2.1% annualized yield.

BlackRock Inc. bought a new stake in shares of Capital City Bank Group (NASDAQ:CCBG - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,688,562 shares of the financial services provider's stock, valued at approximately $83,449,000. BlackRock Inc. owned approximately 9.87% of Capital City Bank Group at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Capital City Bank Group by 0.4% during the first 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 increased its position in shares of Capital City Bank Group by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 547,871 shares of the financial services provider's stock worth $23,323,000 after purchasing an additional 133,923 shares during the last quarter. Bank of America Corp DE increased 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 acquiring an additional 174,953 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of 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 during the period. Finally, Goldman Sachs Group Inc. grew its position in Capital City Bank Group by 45.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 86,575 shares of the financial services provider's stock valued at $3,685,000 after acquiring an additional 26,999 shares in the last quarter. 44.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCBG has been the topic of several analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Capital City Bank Group in a research note on Wednesday, June 24th. Wall Street Zen raised Capital City Bank Group from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Keefe, Bruyette & Woods boosted their target price on Capital City Bank Group from $52.00 to $54.00 and gave the company a "market perform" rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Capital City Bank Group currently has an average rating of "Hold" and a consensus price target of $51.75.

Capital City Bank Group Stock Performance

Shares of CCBG opened at $51.34 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.06. The company has a 50-day simple moving average of $50.78 and a 200-day simple moving average of $46.85. Capital City Bank Group has a 52-week low of $38.27 and a 52-week high of $53.60. The company has a market capitalization of $878.58 million, a PE ratio of 14.26 and a beta of 0.31.

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

Capital City Bank Group Dividend Announcement

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

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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