CAPITAL CITY BANK GROUP INC (CCBG) Jul 2024 Earnings Report
Capital City Bank Group: Investment Report
Overview
Capital City Bank Group, Inc. (CCBG) is a financial holding company that operates through its subsidiary, Capital City Bank, providing a range of banking-related services to individual and corporate clients. With a market capitalization of $504.06 million and a strong presence in the Southeastern United States, CCBG is an attractive investment opportunity in the banking industry. This report provides an in-depth analysis of CCBG's financial performance, growth prospects, and recent news and updates, making a strong case for investment in the company.
Core Metrics
- Current price: $29.75
- 52-week high: $33.44
- 52-week low: $25.45
- Market Cap: $504.06 billion
- P/E Ratio: 9.88
- Earnings per Share: $3.01
- 50-day average: $27.43
- 200-day average: $28.12
- Analyst Recommendations: Buy (4 analysts)
Financial Performance
Capital City Bank Group has demonstrated a strong financial performance in recent years, with revenue growth of -0.067% and a total cash balance of $304.69 million. The company's P/E ratio of 9.88 is lower than the industry average, making it an attractive investment opportunity. CCBG's earnings per share (EPS) have also been steady, with a current EPS of $3.01.
Growth Prospects
CCBG has a strong growth prospects, driven by its expansion into new markets and its commitment to digital transformation. The company's recent initiatives, such as its online and mobile banking services, position it well for future growth. Additionally, CCBG's strong capital position and liquidity enable it to pursue strategic growth opportunities.
News and Updates
Recent news articles have highlighted CCBG's strengths, including its 7.8% jump in share price last session on above-average trading volume. The company's insider roster data also indicates a positive trend, with insiders buying more shares than they have sold in the last 24 months.
Upgrades and Downgrades
Piper Sandler upgraded CCBG to Overweight in April 2024, citing the company's strong financial performance and growth prospects. Keefe, Bruyette & Woods also upgraded CCBG to Outperform in April 2024, highlighting its strong capital position and liquidity. These upgrades demonstrate the confidence of analysts in CCBG's growth prospects.
Summary
In conclusion, Capital City Bank Group, Inc. is a strong investment opportunity in the banking industry. The company's financial performance, growth prospects, and recent news and updates all indicate a positive trend. With a lower P/E ratio than the industry average and a strong capital position, CCBG is well-positioned for future growth. We recommend a Buy rating for CCBG, with a target price of $35.00.
Disclosures
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