Capital City Bank Group (NASDAQ:CCBG) Shares Gap Up Following Strong Earnings

Capital City Bank Group, Inc. (NASDAQ:CCBG - Get Free Report) gapped up prior to trading on Monday after the company announced better than expected quarterly earnings. The stock had previously closed at $34.30, but opened at $36.33. Capital City Bank Group shares last traded at $35.93, with a volume of 1,794 shares.

The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.75 by $0.24. Capital City Bank Group had a return on equity of 11.45% and a net margin of 19.55%. The company had revenue of $61.45 million for the quarter, compared to analysts' expectations of $59.75 million. During the same quarter in the prior year, the business earned $0.74 earnings per share.

Capital City Bank Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.66%. The ex-dividend date was Monday, March 10th. This is a boost from Capital City Bank Group's previous quarterly dividend of $0.23. Capital City Bank Group's payout ratio is 30.77%.

Analyst Ratings Changes

CCBG has been the topic of several research reports. StockNews.com lowered Capital City Bank Group from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Keefe, Bruyette & Woods increased their price objective on shares of Capital City Bank Group from $43.00 to $44.00 and gave the company an "outperform" rating in a report on Friday, January 31st.

Institutional Trading of Capital City Bank Group

A number of hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in Capital City Bank Group by 53.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 795 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 277 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Capital City Bank Group during the 3rd quarter worth about $35,000. Lazard Asset Management LLC grew its holdings in shares of Capital City Bank Group by 30.9% in the 4th quarter. Lazard Asset Management LLC now owns 1,873 shares of the financial services provider's stock valued at $68,000 after acquiring an additional 442 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Capital City Bank Group by 8,208.6% in the first quarter. GAMMA Investing LLC now owns 4,819 shares of the financial services provider's stock valued at $173,000 after acquiring an additional 4,761 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Capital City Bank Group by 15.4% in the fourth quarter. Blue Trust Inc. now owns 4,838 shares of the financial services provider's stock valued at $171,000 after acquiring an additional 645 shares during the last quarter. 44.59% of the stock is currently owned by institutional investors and hedge funds.

Capital City Bank Group Stock Down 2.1 %

The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average of $35.51 and a 200-day moving average of $36.43. The firm has a market cap of $615.82 million, a P/E ratio of 11.61 and a beta of 0.37.

Capital City Bank Group Company 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.