Capital City Bank Group (NASDAQ:CCBG) Reaches New 12-Month High After Better-Than-Expected Earnings

Shares of Capital City Bank Group (NASDAQ:CCBG) hit a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $52.20 and last traded at $51.83, with a volume of 166034 shares trading hands. The stock had previously closed at $49.93.

The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.04. Capital City Bank Group had a net margin of 21.01% and a return on equity of 11.10%.

Capital City Bank Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, June 1st. Capital City Bank Group’s dividend payout ratio (DPR) is currently 30.59%.

Wall Street Analyst Weigh In

CCBG has been the topic of several research analyst reports. Capital One Financial set a $49.50 price objective on Capital City Bank Group in a report on Tuesday, April 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Capital City Bank Group in a research report on Wednesday, June 24th. Keefe, Bruyette & Woods boosted their price target on shares of Capital City Bank Group from $45.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 21st. Brean Capital cut shares of Capital City Bank Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 21st. Finally, Wall Street Zen cut shares of Capital City Bank Group from a “hold” rating to a “sell” rating in a research report on Sunday, May 3rd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $49.75.

Institutional Investors Weigh In On Capital City Bank Group

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in Capital City Bank Group by 24.1% in the first quarter. AQR Capital Management LLC now owns 12,177 shares of the financial services provider’s stock valued at $438,000 after buying an additional 2,362 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Capital City Bank Group by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,175 shares of the financial services provider’s stock worth $294,000 after buying an additional 327 shares during the last quarter. Empowered Funds LLC lifted its holdings in Capital City Bank Group by 8.1% during the 1st quarter. Empowered Funds LLC now owns 28,079 shares of the financial services provider’s stock worth $1,010,000 after buying an additional 2,115 shares during the last quarter. Jane Street Group LLC purchased a new stake in Capital City Bank Group during the 1st quarter worth about $555,000. Finally, Rhumbline Advisers boosted its position in shares of Capital City Bank Group by 4.7% during the 2nd quarter. Rhumbline Advisers now owns 21,994 shares of the financial services provider’s stock worth $865,000 after acquiring an additional 982 shares in the last quarter. 44.59% of the stock is currently owned by institutional investors and hedge funds.

Capital City Bank Group Trading Up 3.8%

The firm has a market capitalization of $886.29 million, a price-to-earnings ratio of 14.68 and a beta of 0.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.79 and a current ratio of 0.79. The company has a 50-day moving average price of $47.40 and a 200-day moving average price of $45.11.

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.