Capital City Bank Group (NASDAQ:CCBG) Cut to “Sell” at Zacks Investment Research

Capital City Bank Group (NASDAQ:CCBG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday, 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. “

Several other research analysts have also recently commented on the stock. BidaskClub upgraded shares of Capital City Bank Group from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. ValuEngine cut shares of Capital City Bank Group from a “hold” rating to a “sell” rating in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Capital City Bank Group has a consensus rating of “Hold” and a consensus target price of $26.75.

Shares of CCBG stock opened at $24.35 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.20. Capital City Bank Group has a 12-month low of $19.92 and a 12-month high of $26.95. The firm has a market cap of $398.46 million, a PE ratio of 18.73 and a beta of 0.72.

Capital City Bank Group (NASDAQ:CCBG) last announced its earnings results on Monday, April 22nd. The financial services provider reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. Capital City Bank Group had a net margin of 17.29% and a return on equity of 8.30%. The business had revenue of $37.46 million during the quarter, compared to analysts’ expectations of $37.50 million. On average, research analysts anticipate that Capital City Bank Group will post 1.68 EPS for the current fiscal year.

In other Capital City Bank Group news, Treasurer Thomas A. Barron sold 5,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $23.53, for a total value of $117,650.00. Following the completion of the sale, the treasurer now owns 130,237 shares in the company, valued at $3,064,476.61. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 20.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC lifted its stake in shares of Capital City Bank Group by 9.0% during the 4th quarter. Acadian Asset Management LLC now owns 69,136 shares of the financial services provider’s stock worth $1,605,000 after buying an additional 5,735 shares during the last quarter. Boston Partners increased its position in Capital City Bank Group by 5.9% during the fourth quarter. Boston Partners now owns 164,500 shares of the financial services provider’s stock worth $3,818,000 after acquiring an additional 9,100 shares during the period. Independent Advisor Alliance bought a new position in Capital City Bank Group during the first quarter worth about $6,968,000. Bank of New York Mellon Corp increased its position in Capital City Bank Group by 1.0% during the fourth quarter. Bank of New York Mellon Corp now owns 72,416 shares of the financial services provider’s stock worth $1,680,000 after acquiring an additional 739 shares during the period. Finally, Rhumbline Advisers increased its position in Capital City Bank Group by 40.4% during the fourth quarter. Rhumbline Advisers now owns 17,394 shares of the financial services provider’s stock worth $404,000 after acquiring an additional 5,007 shares during the period. Institutional investors own 39.22% of the company’s stock.

About Capital City Bank Group

Capital City Bank Group, Inc operates as the bank holding company for Capital City Bank that provides a range of banking and banking-related services to individual and corporate clients in Florida, Georgia, and Alabama. It 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.

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