Independent Advisor Alliance Reduces Stake in Capital City Bank Group $CCBG

Independent Advisor Alliance cut its stake in Capital City Bank Group (NASDAQ:CCBG) by 63.8% in the third quarter, Holdings Channel reports. The fund owned 14,721 shares of the financial services provider’s stock after selling 26,000 shares during the period. Independent Advisor Alliance’s holdings in Capital City Bank Group were worth $615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC increased its position in Capital City Bank Group by 1.6% during the second quarter. Geode Capital Management LLC now owns 333,319 shares of the financial services provider’s stock worth $13,118,000 after purchasing an additional 5,186 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Capital City Bank Group by 13.8% in the 2nd quarter. American Century Companies Inc. now owns 293,407 shares of the financial services provider’s stock valued at $11,546,000 after buying an additional 35,603 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Capital City Bank Group by 1.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 102,106 shares of the financial services provider’s stock worth $4,018,000 after buying an additional 1,935 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Capital City Bank Group by 1.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 77,009 shares of the financial services provider’s stock worth $3,030,000 after buying an additional 837 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of Capital City Bank Group by 4.0% during the 2nd quarter. Bridgeway Capital Management LLC now owns 67,891 shares of the financial services provider’s stock valued at $2,672,000 after buying an additional 2,640 shares during the period. Institutional investors and hedge funds own 44.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CCBG shares. Zacks Research lowered Capital City Bank Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Wall Street Zen lowered Capital City Bank Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Capital City Bank Group in a report on Monday, December 29th. Capital One Financial set a $45.00 price objective on shares of Capital City Bank Group in a report on Wednesday, January 28th. Finally, Keefe, Bruyette & Woods cut shares of Capital City Bank Group from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $47.00 to $45.00 in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.00.

Capital City Bank Group Price Performance

CCBG stock opened at $43.25 on Thursday. The business’s fifty day moving average price is $43.24 and its 200 day moving average price is $42.01. Capital City Bank Group has a 12-month low of $32.38 and a 12-month high of $46.83. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $738.28 million, a PE ratio of 12.01 and a beta of 0.34.

Capital City Bank Group (NASDAQ:CCBG) last released its earnings results on Tuesday, January 27th. The financial services provider reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.09). The firm had revenue of $63.46 million during the quarter, compared to analyst estimates of $64.65 million. Capital City Bank Group had a net margin of 21.47% and a return on equity of 11.69%. On average, sell-side analysts anticipate that Capital City Bank Group will post 3.06 EPS for the current year.

Capital City Bank Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, December 1st. Capital City Bank Group’s dividend payout ratio is presently 28.89%.

Capital City Bank Group Company Profile

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.