Overview

* Capital City Bank ( CCBG ) 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

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.93

Q3 Net $15.95

Income mln

Q3 Net $43.60

Interest mln

Income

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 ( CCBG ) 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:

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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.)