KLP Kapitalforvaltning AS Raises Holdings in Capital City Bank Group (NASDAQ:CCBG)

Key Points

• KLP Kapitalforvaltning AS has increased its stake in Capital City Bank Group by 72.4%, acquiring an additional 7,100 shares, bringing its ownership to approximately 0.10% of the company, valued at $608,000.
• Capital City Bank Group reported earnings per share of $0.88, surpassing analysts' expectations of $0.83, alongside a net margin of 20.86% and revenue of $63.20 million for the most recent quarter.
• The company recently announced a quarterly dividend of $0.24, equating to an annualized dividend of $0.96, with a current dividend yield of 2.39%.

KLP Kapitalforvaltning AS boosted its holdings in shares of Capital City Bank Group (NASDAQ:CCBG - Free Report) by 72.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,900 shares of the financial services provider's stock after acquiring an additional 7,100 shares during the quarter. KLP Kapitalforvaltning AS owned 0.10% of Capital City Bank Group worth $608,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. American Century Companies Inc. raised its position in Capital City Bank Group by 33.2% during the 4th quarter. American Century Companies Inc. now owns 216,683 shares of the financial services provider's stock valued at $7,941,000 after purchasing an additional 54,059 shares in the last quarter. Vanguard Group Inc. raised its position in Capital City Bank Group by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 748,187 shares of the financial services provider's stock valued at $27,421,000 after purchasing an additional 9,196 shares in the last quarter. JPMorgan Chase & Co. raised its position in Capital City Bank Group by 18.5% during the 4th quarter. JPMorgan Chase & Co. now owns 103,554 shares of the financial services provider's stock valued at $3,795,000 after purchasing an additional 16,158 shares in the last quarter. Wellington Management Group LLP raised its position in Capital City Bank Group by 43.6% during the 4th quarter. Wellington Management Group LLP now owns 230,744 shares of the financial services provider's stock valued at $8,457,000 after purchasing an additional 70,004 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Capital City Bank Group by 11.3% during the 4th quarter. Wells Fargo & Company MN now owns 17,321 shares of the financial services provider's stock valued at $635,000 after purchasing an additional 1,761 shares in the last quarter. Hedge funds and other institutional investors own 44.59% of the company's stock.

Analyst Upgrades and Downgrades

CCBG has been the subject of a number of research analyst reports. Wall Street Zen lowered Capital City Bank Group from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods lifted their target price on Capital City Bank Group from $43.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd.

Capital City Bank Group Stock Down 2.8%

Capital City Bank Group stock traded down $1.09 during trading hours on Friday, reaching $38.50. The stock had a trading volume of 48,774 shares, compared to its average volume of 37,542. The company has a market cap of $656.62 million, a price-to-earnings ratio of 11.26 and a beta of 0.36. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.83 and a quick ratio of 0.83. The business's 50 day moving average price is $39.19 and its 200-day moving average price is $37.30. Capital City Bank Group has a 52 week low of $30.99 and a 52 week high of $42.33.

Capital City Bank Group (NASDAQ:CCBG - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.05. The business had revenue of $63.20 million during the quarter, compared to the consensus estimate of $62.35 million. Capital City Bank Group had a net margin of 20.86% and a return on equity of 11.74%. During the same period in the previous year, the company posted $0.83 earnings per share. Sell-side analysts anticipate that Capital City Bank Group will post 3.06 EPS for the current year.

Capital City Bank Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Monday, June 9th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, June 9th. Capital City Bank Group's dividend payout ratio is currently 28.07%.

Capital City Bank Group 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.