Wellington Management Group LLP Has $22.59 Million Stock Position in Capital City Bank Group $CCBG

Key Points

• Wellington Management reduced its Capital City Bank Group stake by 13.4% in the second quarter, selling 70,836 shares. It still held 457,081 shares worth approximately $22.59 million, or 2.67% of the company.
• Capital City Bank Group beat quarterly expectations, reporting $0.95 in EPS versus the $0.90 consensus and revenue of $64.80 million. Analysts project full-year EPS of $3.69.
• The company declared a quarterly dividend of $0.27 per share, equivalent to $1.08 annually and a 2.1% yield. Analyst sentiment remains mostly “Hold,” with an average price target of $51.75.

Wellington Management Group LLP cut its holdings in Capital City Bank Group (NASDAQ:CCBG - Free Report) by 13.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 457,081 shares of the financial services provider's stock after selling 70,836 shares during the quarter. Wellington Management Group LLP owned approximately 2.67% of Capital City Bank Group worth $22,589,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CCBG. Empowered Funds LLC bought a new stake in shares of Capital City Bank Group during the 2nd quarter valued at approximately $2,220,000. Public Employees Retirement System of Ohio acquired a new position in shares of Capital City Bank Group in the second quarter worth approximately $208,000. Bank of America Corp DE acquired a new stake in Capital City Bank Group during the 2nd quarter valued at approximately $3,695,000. Jupiter Topco LLC bought a new position in Capital City Bank Group during the 2nd quarter worth approximately $292,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Capital City Bank Group in the 2nd quarter worth approximately $534,000. Institutional investors own 44.59% of the company's stock.

Capital City Bank Group Stock Performance

Shares of CCBG opened at $51.84 on Friday. The firm has a market capitalization of $887.14 million, a P/E ratio of 14.40 and a beta of 0.32. The stock has a 50 day moving average price of $51.04 and a two-hundred day moving average price of $47.12. Capital City Bank Group has a 52 week low of $38.27 and a 52 week high of $53.60. 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 (NASDAQ:CCBG - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. The company had revenue of $64.80 million for the quarter, compared to analysts' expectations of $64.25 million. Capital City Bank Group had a return on equity of 11.11% and a net margin of 21.37%. Equities analysts forecast that Capital City Bank Group will post 3.69 earnings per share for the current fiscal year.

Capital City Bank Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.27 per share. 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 payout ratio is presently 30.00%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CCBG. 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. Weiss Ratings reissued a "buy (b)" rating on shares of Capital City Bank Group in a research note on Wednesday, June 24th. Finally, Keefe, Bruyette & Woods upped their target price on Capital City Bank Group from $52.00 to $54.00 and gave the company a "market perform" rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average 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.

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