Capital Bancorp (NASDAQ:CBNK) Issues Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Capital Bancorp (NASDAQ:CBNK) issued its quarterly earnings data on Monday. The financial services provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.03), FiscalAI reports. The business had revenue of $68.12 million for the quarter, compared to analysts’ expectations of $69.01 million.

Capital Bancorp Price Performance

Shares of CBNK stock opened at $41.47 on Wednesday. The stock has a market cap of $675.53 million, a PE ratio of 12.52 and a beta of 0.52. The stock has a 50-day moving average of $37.71 and a 200-day moving average of $33.63. Capital Bancorp has a one year low of $26.40 and a one year high of $41.97.

Capital Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 9th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, November 9th. Capital Bancorp’s payout ratio is presently 16.92%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CBNK shares. Hovde Group cut Capital Bancorp from a “strong-buy” rating to a “hold” rating and set a $42.00 price target for the company. in a report on Thursday, October 1st. Weiss Ratings raised Capital Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, October 14th. Brean Capital cut Capital Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 30th. Keefe, Bruyette & Woods increased their target price on Capital Bancorp from $35.00 to $40.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Finally, Stephens downgraded shares of Capital Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 16th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $39.67.

Capital Bancorp Company Profile

Capital Bancorp, Inc is a bank holding company headquartered in Rockville, Maryland. Through its principal subsidiary, Capital Bank, N.A., the company provides commercial banking products and services to businesses, professionals and individuals.

Capital Bank offers business and commercial real estate lending, construction and development financing, residential mortgage lending, small-business lending, consumer loans and deposit accounts. Its services also include cash management, online and mobile banking, treasury management and other financial solutions designed for commercial and retail customers.

Founded in 1999, Capital Bancorp primarily serves communities in the Washington, DC, metropolitan area, including Maryland and Northern Virginia.