Overview

• Capital City Bank Q3 net income rises to $16 mln, EPS at $0.93

• Net interest income for Q3 increases slightly to $43.6 mln

• Noninterest income up 11.6% due to insurance subsidiary sale

Outlook

• Company did not provide specific guidance for future quarters or full year

Result Drivers

• NET INTEREST MARGIN - Increased by four basis points to 4.34% due to lower cost of funds and higher investment securities income

• NONINTEREST INCOME - Increased by 11.6% due to $0.7 mln gain from insurance subsidiary sale and higher mortgage banking revenues

• CREDIT LOSSES - Provision for credit losses rose by $1.3 mln to $1.9 mln, reflecting higher net loan charge-offs

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy"

• Wall Street's median 12-month price target for Capital City Bank Group Inc is $46.00, about 10.9% above its October 20 closing price of $40.99

• The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nGNX7cGbjh

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)