Heartland Advisors Inc. Takes Position in Capital City Bank Group $CCBG

Key Points

• Heartland Advisors acquired 500,000 shares of Capital City Bank Group in the second quarter, valued at about $24.7 million. The stake represents 2.92% of CCBG and approximately 1.1% of Heartland’s portfolio.
• Institutional investors own 44.59% of CCBG. Analyst sentiment remains cautious, with one Buy and three Hold ratings, producing a consensus rating of Hold and a $51.75 target price.
• Capital City Bank Group exceeded quarterly expectations, reporting $0.95 earnings per share versus the $0.90 estimate and revenue of $64.8 million versus $64.25 million expected. Shares opened at $51.33, near the company’s 12-month high of $53.60.

Heartland Advisors Inc. acquired a new stake in shares of Capital City Bank Group (NASDAQ:CCBG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 500,000 shares of the financial services provider's stock, valued at approximately $24,710,000. Capital City Bank Group makes up approximately 1.1% of Heartland Advisors Inc.'s portfolio, making the stock its 12th largest position. Heartland Advisors Inc. owned 2.92% of Capital City Bank Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CCBG. Quarry LP bought a new position in Capital City Bank Group in the 3rd quarter valued at $38,000. Raymond James Financial Inc. bought a new position in shares of Capital City Bank Group in the second quarter worth $150,000. Tower Research Capital LLC TRC increased its holdings in shares of Capital City Bank Group by 1,282.5% in the second quarter. Tower Research Capital LLC TRC now owns 4,106 shares of the financial services provider's stock worth $162,000 after purchasing an additional 3,809 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Capital City Bank Group by 11.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 4,200 shares of the financial services provider's stock worth $179,000 after buying an additional 420 shares in the last quarter. Finally, Vident Advisory LLC purchased a new stake in shares of Capital City Bank Group in the second quarter worth $201,000. Institutional investors own 44.59% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on CCBG. Keefe, Bruyette & Woods lifted 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. Weiss Ratings restated a "buy (b)" rating on shares of Capital City Bank Group in a research note on Wednesday, June 24th. Finally, Wall Street Zen raised Capital City Bank Group from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Capital City Bank Group currently has a consensus rating of "Hold" and a consensus target price of $51.75.

Capital City Bank Group Price Performance

Shares of Capital City Bank Group stock opened at $51.33 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $878.41 million, a PE ratio of 14.26 and a beta of 0.31. The business's 50-day moving average price is $50.34 and its 200-day moving average price is $46.54. Capital City Bank Group has a 12 month low of $38.27 and a 12 month high of $53.60.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. The company 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%. Sell-side analysts forecast that Capital City Bank Group will post 3.69 EPS for the current fiscal year.

About Capital City Bank Group

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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