IMPORTANT DISCLAIMER: Blank Capital Research ("BCR") is a technology platform, not a registered investment advisor or broker-dealer. The algorithmically generated signals, scores, and rankings provided on this site ("God Mode" Signals) are for informational and research purposes only and do not constitute financial advice, investment recommendations, or an offer to sell or solicit an offer to buy any securities.
HYPOTHETICAL PERFORMANCE RESULTS: The "timing scores" and "regime signals" displayed are based on quantitative models. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity.
RISK OF LOSS: Trading in financial markets involves a high degree of risk and may result in the loss of your entire investment. Data provided by third-party sources (Intrinio, Snowflake) is believed to be reliable but is not guaranteed for accuracy or completeness. Past performance is not indicative of future results.
Relative valuation derived from Financials sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 58.6GRADE C+
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
10.9%
Sector: 8.5%
Dividend Analysis audit
No Dividend
This company does not currently pay a dividend.
Analyst Projections
Analyst Consensus
Unlock Valuation Tools
Sign up for free access to institutional-quality research tools.
Based on our 6-factor quantitative model, CAPITAL CITY BANK GROUP INC (CCBG) receives a "Buy" rating with a composite score of 56.0/100, ranked #19 out of 4446 stocks. Key factor scores: Quality 59/100, Value 73/100, Momentum 50/100. This is quantitative analysis only — not investment advice.
CAPITAL CITY BANK GROUP INC (CCBG) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does CAPITAL CITY BANK GROUP INC Do?
Capital City Bank Group, Inc. operates as the financial holding company for Capital City Bank that provides a range of banking and banking-related services to individual and corporate clients. The company 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. It also provides commercial and residential real estate lending products, as well as fixed- and adjustable-rate residential mortgage loans; personal, automobile, boat/RV, and home equity loans; and credit card programs. In addition, the company offers institutional banking services, including customized checking and savings accounts, cash management systems, tax-exempt loans, lines of credit, and term loans to meet the needs of state and local governments, public schools and colleges, charities, membership, and not-for-profit associations. Further, it provides consumer banking services comprising checking accounts, savings programs, interactive/automated teller machines, debit/credit cards, night deposit services, safe deposit facilities, and online and mobile banking services. Additionally, the company provides asset management for individuals through agency, personal trust, IRA, and personal investment management accounts; and various retail securities products, such as the U.S. government bonds, tax-free municipal bonds, stocks, mutual funds, unit investment trusts, annuities, life insurance, and long-term health care. As of December 31, 2021, it operated through 57 banking offices and 86 ATMs/ITMs in Florida, Georgia, and Alabama. The company was founded in 1895 and is headquartered in Tallahassee, Florida. CAPITAL CITY BANK GROUP INC (CCBG) is classified as a small-cap stock in the Financials sector, specifically within the Banking industry. The company is led by CEO William G. Smith and employs approximately 800 people, headquartered in TALLAHASSEE, Florida. With a market capitalization of $752M, CCBG is one of the notable companies in the Financials sector.
CAPITAL CITY BANK GROUP INC (CCBG) Stock Rating — Buy (April 2026)
As of April 2026, CAPITAL CITY BANK GROUP INC receives a Buy rating with a composite score of 56.0/100 and 4 out of 5 stars from the Blank Capital Research quantitative model.CCBG ranks #19 out of 4,446 stocks in our coverage universe. Within the Financials sector, CAPITAL CITY BANK GROUP INC ranks #11 of 891 stocks, placing it in the top 10% of its Financials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
CCBG Stock Price and 52-Week Range
CAPITAL CITY BANK GROUP INC (CCBG) currently trades at $46.41. The stock lost $0.36 (0.8%) in the most recent trading session. The 52-week high for CCBG is $46.83, which means the stock is currently trading -0.9% from its annual peak. The 52-week low is $32.38, putting the stock 43.3% above its annual trough. Recent trading volume was 104K shares, suggesting relatively thin trading activity.
Is CCBG Overvalued or Undervalued? — Valuation Analysis
CAPITAL CITY BANK GROUP INC (CCBG) carries a value factor score of 73/100 in the Blank Capital model, suggesting the stock trades at a meaningful discount to its fundamental earning power. The trailing price-to-earnings ratio is 13.01x, compared to the Financials sector average of 14.88x — a discount of 13%. The price-to-book ratio stands at 1.42x, versus the sector average of 1.22x. The price-to-sales ratio is 3.89x, compared to 0.90x for the average Financials stock. On an enterprise value basis, CCBG trades at 10.00x EV/EBITDA, versus 3.26x for the sector.
Based on these multiples, CAPITAL CITY BANK GROUP INC appears attractively valued relative to both its sector peers and the broader market. Value-oriented investors may find the current entry point compelling, particularly if the company's fundamental quality metrics also score well.
CAPITAL CITY BANK GROUP INC Profitability — ROE, Margins, and Quality Score
CAPITAL CITY BANK GROUP INC (CCBG) earns a quality factor score of 59/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 10.9%, compared to the Financials sector average of 8.5%, which is within a healthy range. Return on assets (ROA) comes in at 1.4% versus the sector average of 1.2%.
On a margin basis, CAPITAL CITY BANK GROUP INC reports gross margins of 0.0%. The operating margin is 38.9% (sector: 21.8%). Net profit margin stands at 29.9%, versus 17.7% for the average Financials stock. Revenue growth is running at 5.5% on a trailing basis, compared to 9.4% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.
CCBG Debt, Balance Sheet, and Financial Health
CAPITAL CITY BANK GROUP INC has a debt-to-equity ratio of 693.0%, compared to the Financials sector average of 121.0%. This elevated leverage warrants close monitoring, as it increases the company's sensitivity to rising interest rates and economic downturns. The current ratio is 1.14x, suggesting adequate working capital coverage. Total debt on the balance sheet is $84M. Cash and equivalents stand at $68M.
CCBG has a beta of 0.52, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for CAPITAL CITY BANK GROUP INC is 87/100, indicating low-volatility characteristics and consistent price behavior that appeals to risk-averse investors.
CAPITAL CITY BANK GROUP INC Revenue and Earnings History — Quarterly Trend
In TTM 2026, CAPITAL CITY BANK GROUP INC reported revenue of $202M and earnings per share (EPS) of $3.61. Net income for the quarter was $60M. Gross margin was 0.0%. Operating income came in at $79M.
In FY 2025, CAPITAL CITY BANK GROUP INC reported revenue of $204M and earnings per share (EPS) of $3.61. Net income for the quarter was $62M. Revenue grew 5.0% year-over-year compared to FY 2024. Operating income came in at $82M.
In Q3 2025, CAPITAL CITY BANK GROUP INC reported revenue of $51M and earnings per share (EPS) of $0.93. Net income for the quarter was $16M. Revenue grew 4.3% year-over-year compared to Q3 2024. Operating income came in at $21M.
In Q2 2025, CAPITAL CITY BANK GROUP INC reported revenue of $51M and earnings per share (EPS) of $0.88. Net income for the quarter was $15M. Revenue grew 5.5% year-over-year compared to Q2 2024. Operating income came in at $20M.
Over the past 8 quarters, CAPITAL CITY BANK GROUP INC has demonstrated a growth trajectory, with revenue expanding from $49M to $202M. Investors analyzing CCBG stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
CCBG Dividend Yield and Income Analysis
CAPITAL CITY BANK GROUP INC (CCBG) does not currently pay a dividend. This is common among smaller companies in the Banking industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Financials dividend stocks may want to explore other Financials stocks or use the stock screener to filter by dividend yield.
CCBG Momentum and Technical Analysis Profile
CAPITAL CITY BANK GROUP INC (CCBG) has a momentum factor score of 50/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 31/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 30/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
CCBG vs Competitors — Financials Sector Ranking and Peer Comparison
Comparing CCBG against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full CCBG vs S&P 500 (SPY) comparison to assess how CAPITAL CITY BANK GROUP INC stacks up against the broader market across all factor dimensions.
CCBG Next Earnings Date
No upcoming earnings date has been announced for CAPITAL CITY BANK GROUP INC (CCBG) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy CCBG? — Investment Thesis Summary
The bull case for CAPITAL CITY BANK GROUP INC rests on several quantitative strengths. The value score of 73/100 suggests attractive pricing relative to fundamentals. Low volatility (stability score 87/100) reduces downside risk.
In summary, CAPITAL CITY BANK GROUP INC (CCBG) earns a Buy rating with a composite score of 56.0/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on CCBG stock.
We'll email you when stocks you follow change their composite rating.
Institutional Research Dossier
CAPITAL CITY BANK GROUP INC (CCBG) Deep Dive Analysis
Published on March 24, 2026
Action RatingBuy
Sections
Executive Summary
Capital City Bank Group (CCBG) receives a Buy rating based on its attractive valuation relative to the financial sector, strong profitability metrics, and stable business model. While the company's growth prospects are modest, its operational efficiency and conservative management provide a solid foundation for long-term value creation. The current valuation, reflected in a lower P/E and EV/EBITDA compared to the sector, presents an opportunity for investors seeking stable returns and potential upside as the company continues to execute its regional banking strategy.
The primary concern revolves around the company's relatively low investment score, indicating potentially limited capital allocation efficiency or growth initiatives. However, the bank's strong stability score and consistent profitability mitigate some of these concerns. Investors should monitor CCBG's ability to deploy capital effectively and generate sustainable growth in the face of increasing competition and evolving regulatory landscapes. The bank's focus on community banking and customer relationships provides a degree of resilience, but strategic investments in technology and new markets will be crucial for long-term success.
Business Strategy & Overview
Capital City Bank Group operates as a community-focused regional bank, primarily serving individuals and businesses across Florida, Georgia, and Alabama. The bank's core strategy revolves around building strong customer relationships and providing a comprehensive suite of financial services, including commercial and retail banking, wealth management, and insurance products. This diversified approach allows CCBG to cater to a wide range of customer needs and generate revenue from multiple sources.
The bank's strategic positioning emphasizes local market expertise and personalized service, differentiating it from larger national banks. By focusing on smaller communities and building trust with local businesses and individuals, CCBG aims to create a loyal customer base and maintain a competitive advantage in its target markets. This strategy is particularly effective in attracting and retaining customers who value personal relationships and local decision-making.
CCBG's product pipeline includes ongoing enhancements to its digital banking platform and expansion of its wealth management services. The bank is investing in technology to improve customer experience and streamline operations, while also focusing on growing its fee-based income through wealth management and insurance products. These initiatives are designed to enhance profitability and diversify revenue streams.
The bank operates in a highly competitive industry, facing competition from both large national banks and smaller community banks. To succeed, CCBG must continue to differentiate itself through superior customer service, local market expertise, and innovative product offerings. The bank's ability to adapt to changing customer preferences and technological advancements will be crucial for maintaining its competitive edge.
CCBG's treasury management services and merchant credit card transaction processing services are key components of its commercial banking offerings. These services provide businesses with the tools they need to manage their finances efficiently and accept payments from customers. By offering these value-added services, CCBG strengthens its relationships with business clients and generates additional revenue.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
5.5%
Sector: 9.4%
-42% VS SCTR
Economic Moat Analysis
Capital City Bank Group possesses a narrow economic moat, primarily derived from its established brand reputation and customer relationships within its regional markets. The bank's long history and community focus have fostered a degree of customer loyalty, creating a barrier to entry for new competitors. This local presence and personalized service contribute to a sticky customer base, particularly among small businesses and individuals who value personal relationships with their bankers.
Switching costs, while not exceptionally high, also contribute to the bank's narrow moat. Customers who have established banking relationships, including loans, deposit accounts, and other financial services, may be hesitant to switch to a new bank due to the time and effort required to transfer accounts and establish new relationships. This inertia provides CCBG with a degree of pricing power and customer retention.
The bank's intangible assets, such as its brand name and reputation, are also important sources of competitive advantage. CCBG has built a strong reputation for reliability and customer service over its long history, which helps it attract and retain customers. This reputation is particularly valuable in the community banking sector, where trust and personal relationships are highly valued.
However, the bank's moat is not particularly wide due to the relatively low barriers to entry in the banking industry. New banks can enter the market and compete for customers by offering competitive interest rates, innovative products, and superior customer service. Additionally, the rise of online banking and fintech companies has increased competition and reduced the importance of physical branch locations.
Efficient scale is not a significant factor in CCBG's moat, as the bank does not benefit from significant economies of scale compared to larger national banks. While the bank's size allows it to offer a wider range of products and services than smaller community banks, it does not have the same cost advantages as larger banks with greater scale.
Overall, Capital City Bank Group's narrow moat provides it with a modest competitive advantage in its regional markets. However, the bank must continue to invest in its brand, customer relationships, and technology to maintain its competitive edge in the face of increasing competition.
Financial Health & Profitability
Capital City Bank Group demonstrates solid financial health, characterized by consistent profitability and a stable balance sheet. The company's revenue has shown steady growth, increasing from $181.07 million in FY2023 to $204.39 million in FY2025. This growth reflects the bank's ability to expand its customer base and increase its lending and fee-based income.
The bank's operating margin is particularly strong, consistently exceeding the sector average. In FY2025, the operating margin was 40.0%, significantly higher than the sector average of 22.0%. This high operating margin indicates the bank's efficient cost management and ability to generate profits from its core operations. The net margin of 29.9% also surpasses the sector average of 17.8%, further highlighting the bank's profitability.
CCBG's return on equity (ROE) of 10.9% is also higher than the sector average of 8.5%, indicating that the bank is effectively utilizing its equity to generate profits. This strong ROE reflects the bank's efficient capital allocation and profitable business model.
The bank's balance sheet is relatively conservative, with a total debt of $83.51 million and total cash of $68.40 million. While the debt-to-equity ratio of 693.00 is significantly higher than the sector average of 115.00, this is likely due to the nature of banking operations, where deposits are considered liabilities. The current ratio of 1.14 indicates that the bank has sufficient liquid assets to cover its short-term liabilities.
The quarterly financial history reveals a consistent trend of profitability and revenue growth. The bank has consistently generated positive net income and maintained strong operating margins. This consistent performance demonstrates the stability and resilience of the bank's business model.
However, the negative free cash flow of $-33.93 million is a concern. This may be due to increased lending activity or investments in infrastructure. Investors should monitor the bank's free cash flow generation in future periods to ensure that it is able to generate sufficient cash to fund its operations and growth initiatives.
Valuation Assessment
Capital City Bank Group's valuation appears attractive relative to its peers in the financial sector. The company's P/E ratio of 11.6x is lower than the sector average of 15.5x, suggesting that the stock is undervalued compared to its earnings potential. Similarly, the company's EV/EBITDA ratio of 2.2x is significantly lower than the sector average of 3.5x, further indicating that the stock is undervalued based on its enterprise value and earnings before interest, taxes, depreciation, and amortization.
The lower valuation multiples may reflect investor concerns about the bank's growth prospects or its exposure to regional economic conditions. However, the bank's consistent profitability, strong operating margins, and stable balance sheet suggest that the current valuation is overly conservative.
The bank's free cash flow is negative, so a FCF yield analysis is not meaningful. However, the bank's strong earnings and EBITDA suggest that it has the potential to generate positive free cash flow in the future.
Compared to its historical valuation, CCBG's current P/E ratio is within its historical range, but towards the lower end. This suggests that the stock is currently trading at a discount to its historical average.
Overall, Capital City Bank Group's valuation appears attractive based on its lower P/E and EV/EBITDA ratios compared to the sector average. While the bank's growth prospects may be modest, its consistent profitability and stable balance sheet provide a solid foundation for long-term value creation. The current valuation presents an opportunity for investors seeking stable returns and potential upside as the company continues to execute its regional banking strategy.
A discounted cash flow (DCF) analysis, if feasible with more detailed projections, would provide a more comprehensive valuation assessment. However, based on the available data, the stock appears to be undervalued.
Risk & Uncertainty
Capital City Bank Group faces several risks and uncertainties that could impact its financial performance and stock price. One of the primary risks is the potential for increased competition from both traditional banks and fintech companies. The banking industry is becoming increasingly competitive, with new entrants offering innovative products and services that could erode CCBG's market share. The bank must continue to invest in technology and customer service to maintain its competitive edge.
Another risk is the potential for economic downturns in the bank's regional markets. CCBG operates primarily in Florida, Georgia, and Alabama, and its financial performance is closely tied to the economic health of these states. A recession or slowdown in economic growth could lead to increased loan losses and reduced demand for banking services.
Regulatory changes also pose a risk to the bank's profitability. The banking industry is heavily regulated, and changes in regulations could increase compliance costs or restrict the bank's ability to generate revenue. For example, changes in capital requirements or lending regulations could impact the bank's profitability and growth prospects.
Interest rate risk is another significant concern for CCBG. Changes in interest rates can impact the bank's net interest margin, which is the difference between the interest income it earns on loans and the interest expense it pays on deposits. Rising interest rates could increase the bank's funding costs and reduce its profitability.
Finally, credit risk is a constant concern for banks. CCBG is exposed to the risk that borrowers will default on their loans, leading to loan losses. The bank must carefully manage its credit risk by conducting thorough credit analysis and monitoring its loan portfolio.
Bulls Say / Bears Say
The Bull Case
BULL VIEWCCBG's strong profitability metrics, including high operating and net margins, demonstrate efficient operations and the potential for continued earnings growth.
BULL VIEWThe bank's attractive valuation, with lower P/E and EV/EBITDA ratios compared to the sector, suggests that the stock is undervalued and offers significant upside potential.
BULL VIEWCCBG's focus on community banking and customer relationships provides a stable foundation for long-term growth and resilience in the face of economic uncertainty.
The Bear Case
BEAR VIEWCCBG's relatively low investment score indicates limited capital allocation efficiency and potential for slower growth compared to its peers.
BEAR VIEWThe bank's high debt-to-equity ratio, while typical for banking, presents a risk in a rising interest rate environment and could limit its financial flexibility.
BEAR VIEWCCBG's regional focus exposes it to economic downturns in Florida, Georgia, and Alabama, which could lead to increased loan losses and reduced profitability.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score CCBG and 4,400+ other equities.
CAPITAL CITY BANK GROUP INC exhibits a 136% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
1.4%
Sector: 1.2%
Gross Margin
Pricing power and cost efficiency
0.0%
Sector: 0.0%
Operating Margin
Core business profitability
38.9%
Sector: 21.8%
Net Margin
Bottom-line profitability
29.9%
Sector: 17.7%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
