For the quarter ended March 2024, Capital City Bank (CCBG) reported revenue of $56.45 million, down 9.9% over the same period last year. EPS came in at $0.74, compared to $0.88 in the year-ago quarter.The reported revenue represents a surprise of -0.87% over the Zacks Consensus Estimate of $56.95 million. With the consensus EPS estimate being $0.70, the EPS surprise was +5.71%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determi ...

Capital City Bank (CCBG) came out with quarterly earnings of $0.74 per share, beating the Zacks Consensus Estimate of $0.70 per share. This compares to earnings of $0.88 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.71%. A quarter ago, it was expected that this bank holding company would post earnings of $0.74 per share when it actually produced earnings of $0.70, delivering a surprise of -5.41%.Over the last four quarters ...

The upcoming report from Capital City Bank (CCBG) is expected to reveal quarterly earnings of $0.70 per share, indicating a decline of 20.5% compared to the year-ago period. Analysts forecast revenues of $56.95 million, representing a decrease of 9.1% year over year.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.Ahead of a ...

Unrealized losses in our securities portfolio could materially and adversely affect our liquidity. Further, as a result of our failure to timely file our Quarterly Report on Form 10-Q for the three-month period ended September 30, 2023, we are currently ineligible to file new short form registration statements on Form S-3 and, absent a waiver of the Form S-3 eligibility requirements, we are not currently permitted to use our existing registration statement on Form S-3D. If we seek to access the capital mark ...

Capital City Bank Group, Inc (CCBG) has increased its quarterly dividend. The bank announced a quarterly cash dividend of 21 cents per share, marking an increase of 5% from the prior payout. The dividend will be paid out on Mar 25, 2024, to shareholders of record as of Mar 11.Prior to this, CCBG hiked its dividend by 11.1% to 20 cents per share on Aug 24, 2023. It has increased its dividend payout eight times in the past five years. Also, the company has five-year annualized dividend growth of 11.45%. Curre ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Capital City Bank Group, Inc. (CCBG) is a financial holding company for Capital City Bank. The Zacks Consensus Estimate for its current year earnings has been revised 9.8% downward over the last 60 days.China Mengniu Dairy Company Limited (CIADY) is an investment holding company. The Zacks Consensus Estimate for its current year earnings has been revised 7% downward over the last 60 days.Columbia Sportswear Company (COLM) is an outdoo ...

TALLAHASSEE, Fla., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Capital City Bank Group, Inc. (NASDAQ:CCBG) announced today that its Board of Directors approved a new stock repurchase program on January 25, 2024. Under the newly approved stock repurchase program, the company is authorized to repurchase up to 750,000 shares of its common stock over the next five years, from time to time, in the open market or through private transactions, as market conditions warrant. However, the new stock repurchase program does not ...

Capital City Bank (CCBG) reported $56.33 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 4.7%. EPS of $0.70 for the same period compares to $0.68 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $56.5 million, representing a surprise of -0.30%. The company delivered an EPS surprise of -5.41%, with the consensus EPS estimate being $0.74.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings - ...

TALLAHASSEE, Fla., Jan. 23, 2024 (GLOBE NEWSWIRE) -- Capital City Bank Group, Inc. (NASDAQ:CCBG) today reported net income attributable to common shareowners of $11.7 million, or $0.70 per diluted share, for the fourth quarter of 2023 compared to $12.7 million, or $0.74 per diluted share, for the third quarter of 2023, and $9.6 million, or $0.56 per diluted share, for the fourth quarter of 2022. For the full year of 2023, net income attributable to common shareowners totaled $52.3 million, or $3.07 per dilu ...

Shareholders' Equity and Capital Ratios - Shareholders' equity increased to $419.7 million in Q3 2023, up from $412.4 million in Q2 2023, reflecting a growth of 0.3%[124] - The total risk-based capital ratio was 16.30% at September 30, 2023, compared to 15.68% at June 30, 2023[130] - Shareowners' equity rose to $419.7 million at September 30, 2023, up from $412.4 million at June 30, 2023, and $387.3 million at December 31, 2022, driven by net income of $40.5 million for the first nine months of 2023[147] - Total risk-based capital ratio improved to 16.30% at September 30, 2023, compared to 15.68% at June 30, 2023, and 15.30% at December 31, 2022[147] - Common equity tier 1 capital ratio was 13.26% at September 30, 2023, compared to 12.73% at June 30, 2023, and 12.38% at December 31, 2022[147] - Tangible common equity ratio was 8.08% at September 30, 2023, compared to 7.43% at June 30, 2023, and 6.65% at December 31, 2022[147] Income and Expenses - Net interest income (FTE) for Q3 2023 was $39.367 million, a decrease from $40.224 million in Q2 2023[131] - Noninterest income for Q3 2023 was $16.728 million, down from $19.967 million in Q2 2023[131] - Noninterest expense for Q3 2023 totaled $39.1 million, a decrease of $1.2 million from $40.3 million in Q2 2023[128] - Net income attributable to common shareholders for Q3 2023 was $12.655 million, compared to $14.174 million in Q2 2023[131] - Income tax expense for Q3 2023 was $3.0 million with an effective rate of 20.7%, compared to $3.4 million (19.4%) in Q2 2023 and $2.5 million (20.7%) in Q3 2022[139] - Noninterest income for Q3 2023 totaled $16.7 million, down from $20.0 million in Q2 2023 and $18.5 million in Q3 2022, with a total of $54.5 million for the first nine months of 2023 compared to $59.9 million in the same period of 2022[134] - Total noninterest expense for Q3 2023 was $39.1 million, compared to $40.3 million in Q2 2023 and $37.7 million in Q3 2022, with a total of $117.1 million for the first nine months of 2023 compared to $112.4 million in the same period of 2022[137] Loans and Assets - Average loans held for investment (HFI) rose by $15.0 million, or 0.6%, to $2.646 billion in Q3 2023 compared to Q2 2023[129] - Total assets decreased to $4,218,855,000 from $4,357,678,000 year-over-year, representing a decline of approximately 3.2%[148] - Loans held for investment increased to $2,672,653,000, up from $2,264,075,000, reflecting a growth of approximately 18.0%[148] - Average total deposits decreased by $122.7 million, or 3.3%, to $3.597 billion in Q3 2023 compared to Q2 2023[130] - Total deposits decreased to $3,596,816,000 from $3,769,864,000 year-over-year, a decline of about 4.6%[148] - Nonperforming assets decreased to $4.7 million at September 30, 2023, from $6.6 million at June 30, 2023[130] Interest and Margins - Net interest margin for Q3 2023 was 4.03%, down 3 basis points from Q2 2023, but up 71 basis points from Q3 2022[132] - Tax-equivalent net interest income for Q3 2023 was $39.4 million, a decrease from $40.2 million in Q2 2023 but an increase from $33.5 million in Q3 2022[132] - The interest rate spread improved to 3.54% compared to 3.14% in the previous year[148] Credit Losses and Provisions - Provision for credit losses increased to $2.4 million in Q3 2023 from $2.2 million in both Q2 2023 and Q3 2022, with a total of $7.7 million for the first nine months of 2023 compared to $3.9 million in the same period of 2022[133] - The allowance for credit losses increased to $(29,172,000) from $(21,509,000) year-over-year, indicating a rise in provisions for potential loan losses[148] - The allowance for credit losses is adjusted by a credit loss provision and reduced by charge-offs, reflecting management's estimates based on historical loan default and loss experience[141] Operational Changes and Future Outlook - The company is implementing remediation efforts to address identified material weaknesses in internal controls over financial reporting[150] - Capital expenditures are expected to be approximately $8.0 million over the next 12 months, primarily for new office construction, remodeling, and technology purchases[146] - The company maintained a liquidity source through its investment portfolio, with options to pledge securities or sell selected securities as needed[146] - Average net overnight funds position decreased to $136.6 million in Q3 2023 from $218.9 million in Q2 2023 and $469.4 million in Q4 2022, reflecting growth in average loans and lower average deposit balances[146] - Average short-term borrowings increased to $49.7 million in Q3 2023 compared to $35.7 million in Q2 2023 and $50.8 million in Q4 2022, primarily due to an increase in short-term repurchase agreements[147] Investment Portfolio - At September 30, 2023, 33.6% of the investment portfolio was classified as Available-for-Sale (AFS) and 65.2% as Held-to-Maturity (HTM)[140] - The economic value of equity (EVE) was favorable in all rising rate environments as of September 30, 2023, with EVE ratios exceeding the policy minimum of 5.0%[144] - The net pension liability reflected in other comprehensive loss was $4.6 million at September 30, 2023, compared to $4.7 million at June 30, 2023[147]