Zacks Investment Research Downgrades Capital City Bank Group (NASDAQ:CCBG) to Hold

Zacks Investment Research downgraded shares of Capital City Bank Group (NASDAQ:CCBG) from a buy rating to a hold rating in a report released on Friday morning, Zacks.com reports.

According to Zacks, “Capital City Bank Group, Inc. is a financial holding company with banking subsidiaries and numerous indirect subsidiaries. The Banks are full service banks, engaged in the commercial and retail banking business, including accepting demand, savings and time deposits; extending credit; originating residential mortgage loans; and providing data processing services, asset management services, trust services, retail brokerage services and a broad range of other financial services to corporate and individual customers, governmental entities and correspondent banks. “

Capital City Bank Group stock opened at $25.48 on Friday. Capital City Bank Group has a fifty-two week low of $16.70 and a fifty-two week high of $28.98. The stock has a market cap of $429.36 million, a PE ratio of 13.20 and a beta of 0.86. The firm’s 50-day simple moving average is $26.53 and its 200 day simple moving average is $24.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.90.

Capital City Bank Group (NASDAQ:CCBG) last released its quarterly earnings results on Monday, January 25th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). Capital City Bank Group had a return on equity of 9.74% and a net margin of 16.00%. The firm had revenue of $55.50 million for the quarter, compared to analysts’ expectations of $54.30 million. As a group, analysts predict that Capital City Bank Group will post 1.92 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 22nd. Shareholders of record on Monday, March 8th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Friday, March 5th. Capital City Bank Group’s dividend payout ratio is 32.79%.

Hedge funds have recently made changes to their positions in the business. Capital City Trust Co. FL bought a new stake in Capital City Bank Group in the fourth quarter worth about $1,106,000. Rhumbline Advisers raised its position in Capital City Bank Group by 13.6% in the fourth quarter. Rhumbline Advisers now owns 22,783 shares of the financial services provider’s stock worth $560,000 after acquiring an additional 2,725 shares during the period. Bank of New York Mellon Corp raised its position in shares of Capital City Bank Group by 1.0% in the fourth quarter. Bank of New York Mellon Corp now owns 92,447 shares of the financial services provider’s stock valued at $2,272,000 after purchasing an additional 907 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Capital City Bank Group by 80.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,700 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 1,200 shares during the period. Finally, Morgan Stanley raised its position in shares of Capital City Bank Group by 38.8% in the third quarter. Morgan Stanley now owns 70,011 shares of the financial services provider’s stock valued at $1,315,000 after purchasing an additional 19,553 shares during the period. 39.97% of the stock is currently owned by institutional investors and hedge funds.

About Capital City Bank Group

Capital City Bank Group, Inc operates as the financial holding company for Capital City Bank that provides a range of banking and 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.

Further Reading: Trading Halts

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