Capital City Bank Group (NASDAQ:CCBG) Announces Quarterly Earnings Results

by · The Markets Daily

Capital City Bank Group (NASDAQ:CCBG – Get Free Report) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.05, Zacks reports. Capital City Bank Group had a return on equity of 11.18% and a net margin of 21.85%. The company had revenue of $64.39 million during the quarter, compared to analysts’ expectations of $65.50 million.

Capital City Bank Group Stock Up 0.3%

CCBG stock opened at $49.54 on Thursday. The firm has a market capitalization of $847.78 million, a PE ratio of 13.54 and a beta of 0.36. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.06. Capital City Bank Group has a twelve month low of $38.55 and a twelve month high of $53.60. The stock’s 50 day moving average is $50.15 and its 200-day moving average is $48.71.

Capital City Bank Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were paid a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $1.08 annualized dividend and a dividend yield of 2.2%. Capital City Bank Group’s dividend payout ratio is 29.51%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CCBG shares. Wall Street Zen cut Capital City Bank Group from a “hold” rating to a “sell” rating in a research report on Saturday, October 10th. Weiss Ratings upgraded Capital City Bank Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Finally, Keefe, Bruyette & Woods raised their price objective on Capital City Bank Group from $52.00 to $54.00 and gave the company a “market perform” rating in a research note on Wednesday, July 22nd. 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 company has a consensus rating of “Hold” and an average target price of $51.75.

Check Out Our Latest Stock Analysis on Capital City Bank Group

Trending Headlines about Capital City Bank Group

Here are the key news stories impacting Capital City Bank Group this week:

  • Positive Sentiment: Q3 earnings exceeded expectations. Capital City Bank Group reported diluted EPS of $0.99, up from $0.95 in the second quarter and $0.93 a year earlier, beating the $0.94 analyst consensus by $0.05. Net income increased to $16.9 million. Capital City Bank Group Tops Q3 EPS
  • Positive Sentiment: Net interest performance improved. Tax-equivalent net interest income rose to $45.1 million, while net interest margin expanded seven basis points sequentially to 4.42%. Lower deposit costs and higher-yielding investment securities helped offset lower average loan balances. Capital City Bank Group Reports Third Quarter Results
  • Positive Sentiment: Credit quality strengthened. Nonperforming assets declined to $9.7 million from $13.4 million in the prior quarter, net charge-offs fell to 0.08% of average loans, and the company recorded a small provision benefit for credit losses. Capital ratios also remained well above regulatory requirements.
  • Neutral Sentiment: Results were broadly steady but not a clear upside surprise on revenue. Quarterly revenue was approximately $64.4 million, below the $65.5 million consensus estimate, contributing to reports that the stock was drifting despite the EPS beat. CCBG Stock Drifts Despite Steady Q3 Earnings
  • Negative Sentiment: Fee-based revenue weakened. Noninterest income fell 5.9% sequentially, primarily because of lower mortgage banking revenue and deposit fees. Average loans declined 0.4%, while period-end deposits fell 1.5%, although management attributed much of the deposit decline to seasonal public-fund balances. Capital City Bank’s Q3 Earnings Increase, Revenue Declines

About Capital City Bank Group

(Get Free Report)

Capital City Bank Group, Inc is a financial holding company headquartered in Tallahassee, Florida. Through its principal subsidiary, Capital City Bank, the company provides banking and financial services to individuals, businesses, and public-sector organizations.

Its offerings include consumer and commercial deposit accounts, business and personal lending, mortgage services, cash-management solutions, online and mobile banking, and wealth-management services. The company also provides trust and investment services through its banking operations.

Founded in 1895, Capital City Bank Group has developed a community-banking network serving markets in North Florida and Georgia, including the Tallahassee area.

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