Capital City Bank Group, Inc. Forecasted to Post FY2024 Earnings of $3.41 Per Share (NASDAQ:CCBG)

Posted by Defense World Staff on Oct 5th, 2023

Capital City Bank Group, Inc. (NASDAQ:CCBG – Free Report) – DA Davidson raised their FY2024 earnings per share (EPS) estimates for shares of Capital City Bank Group in a research report issued to clients and investors on Tuesday, October 3rd. DA Davidson analyst K. Fitzsimmons now anticipates that the financial services provider will earn $3.41 per share for the year, up from their prior forecast of $3.34. The consensus estimate for Capital City Bank Group’s current full-year earnings is $3.31 per share.

Capital City Bank Group (NASDAQ:CCBG – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The company had revenue of $67.95 million during the quarter, compared to the consensus estimate of $62.80 million. Capital City Bank Group had a return on equity of 13.13% and a net margin of 20.61%.

A number of other equities analysts have also recently commented on the stock. StockNews.com initiated coverage on shares of Capital City Bank Group in a research report on Thursday, August 17th. They set a “hold” rating for the company. Piper Sandler reduced their price objective on shares of Capital City Bank Group from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Tuesday, August 15th.

View Our Latest Research Report on CCBG

Capital City Bank Group Trading Up 1.0 %

NASDAQ CCBG opened at $29.90 on Wednesday. The company has a market cap of $508.00 million, a PE ratio of 9.71 and a beta of 0.60. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.13. Capital City Bank Group has a 12 month low of $28.03 and a 12 month high of $36.86. The stock has a 50 day moving average of $30.51 and a 200-day moving average of $30.52.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. increased its stake in shares of Capital City Bank Group by 2.4% in the third quarter. Alliancebernstein L.P. now owns 12,744 shares of the financial services provider’s stock valued at $396,000 after buying an additional 300 shares during the period. Legal & General Group Plc increased its stake in shares of Capital City Bank Group by 8.5% in the second quarter. Legal & General Group Plc now owns 4,527 shares of the financial services provider’s stock valued at $126,000 after buying an additional 355 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Capital City Bank Group by 24.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,921 shares of the financial services provider’s stock valued at $56,000 after buying an additional 375 shares during the period. Bank of New York Mellon Corp boosted its holdings in Capital City Bank Group by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 91,215 shares of the financial services provider’s stock valued at $2,674,000 after acquiring an additional 375 shares during the last quarter. Finally, FMR LLC boosted its holdings in Capital City Bank Group by 9.9% in the first quarter. FMR LLC now owns 4,288 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 388 shares during the last quarter. Institutional investors and hedge funds own 45.79% of the company’s stock.

Insider Transactions at Capital City Bank Group

In related news, Director Laura L. Johnson purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average price of $30.53 per share, with a total value of $30,530.00. Following the completion of the purchase, the director now directly owns 33,091 shares in the company, valued at $1,010,268.23. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 23.20% of the company’s stock.

Capital City Bank Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 25th. Stockholders of record on Monday, September 11th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.68%. This is an increase from Capital City Bank Group’s previous quarterly dividend of $0.18. Capital City Bank Group’s dividend payout ratio (DPR) is currently 25.97%.

About Capital City Bank Group

(Get Free Report)

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