Capital City Bank Group (NASDAQ:CCBG) Releases Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Capital City Bank Group (NASDAQ:CCBG) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.09), Zacks reports. Capital City Bank Group had a net margin of 21.50% and a return on equity of 11.75%.

Capital City Bank Group Trading Down 0.1%

Shares of Capital City Bank Group stock opened at $44.28 on Tuesday. The stock has a market capitalization of $755.79 million, a PE ratio of 12.33 and a beta of 0.36. Capital City Bank Group has a 52 week low of $32.38 and a 52 week high of $46.83. The stock has a 50 day moving average price of $43.07 and a two-hundred day moving average price of $41.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.83 and a current ratio of 0.83.

Capital City Bank Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, December 1st. Capital City Bank Group’s payout ratio is presently 29.13%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CCBG shares. Zacks Research upgraded shares of Capital City Bank Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Capital City Bank Group in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to data from MarketBeat, Capital City Bank Group has a consensus rating of “Buy” and a consensus price target of $45.00.

Hedge Funds Weigh In On Capital City Bank Group

Several hedge funds have recently modified their holdings of the company. PharVision Advisers LLC purchased a new position in Capital City Bank Group in the third quarter valued at about $248,000. Quarry LP bought a new stake in shares of Capital City Bank Group in the 3rd quarter worth approximately $38,000. Mariner LLC lifted its stake in Capital City Bank Group by 7.8% in the third quarter. Mariner LLC now owns 11,104 shares of the financial services provider’s stock valued at $464,000 after purchasing an additional 801 shares during the last quarter. Millennium Management LLC grew its holdings in Capital City Bank Group by 667.3% during the third quarter. Millennium Management LLC now owns 44,541 shares of the financial services provider’s stock valued at $1,861,000 after purchasing an additional 38,736 shares during the period. Finally, Bank of America Corp DE increased its position in Capital City Bank Group by 997.3% in the third quarter. Bank of America Corp DE now owns 192,495 shares of the financial services provider’s stock worth $8,044,000 after buying an additional 174,953 shares during the last quarter. Institutional investors own 44.59% of the company’s stock.

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.