Capital Bancorp (NASDAQ:CBNK) Hits New 1-Year High – What’s Next?

Capital Bancorp, Inc. (NASDAQ:CBNK)’s stock price reached a new 52-week high during trading on Monday. The company traded as high as $42.53 and last traded at $42.6440, with a volume of 1,738 shares traded. The stock had previously closed at $41.72.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Capital Bancorp from $35.00 to $40.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Brean Capital lowered Capital Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 30th. Weiss Ratings upgraded Capital Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, October 14th. Stephens downgraded Capital Bancorp from an “overweight” rating to an “equal weight” rating in a report on Friday, October 16th. Finally, Hovde Group downgraded Capital Bancorp from a “strong-buy” rating to a “hold” rating and set a $42.00 target price on the stock. in a report on Thursday, October 1st. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Capital Bancorp presently has an average rating of “Hold” and an average target price of $41.00.

Capital Bancorp Stock Performance

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.12. The company has a market cap of $697.68 million, a P/E ratio of 12.94 and a beta of 0.50. The business’s 50 day simple moving average is $38.01 and its 200 day simple moving average is $33.83.

Capital Bancorp (NASDAQ:CBNK) last released its earnings results on Monday, October 26th. The financial services provider reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). The firm had revenue of $68.12 million for the quarter, compared to analysts’ expectations of $69.01 million. Capital Bancorp had a net margin of 16.29% and a return on equity of 13.63%. Sell-side analysts predict that Capital Bancorp, Inc. will post 3.47 earnings per share for the current fiscal year.

Capital Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 9th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, November 9th. Capital Bancorp’s payout ratio is presently 16.92%.

Institutional Trading of Capital Bancorp

Institutional investors have recently made changes to their positions in the business. Verdence Capital Advisors LLC lifted its holdings in Capital Bancorp by 0.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 37,803 shares of the financial services provider’s stock worth $1,486,000 after purchasing an additional 316 shares in the last quarter. Legal & General Group Plc bought a new position in Capital Bancorp in the 2nd quarter worth approximately $37,000. Bank of America Corp DE grew its holdings in Capital Bancorp by 13.0% during the 1st quarter. Bank of America Corp DE now owns 22,334 shares of the financial services provider’s stock valued at $664,000 after buying an additional 2,570 shares in the last quarter. Cassilly Financial Group LLC purchased a new stake in Capital Bancorp during the 3rd quarter valued at approximately $206,000. Finally, GSA Capital Partners LLP purchased a new stake in Capital Bancorp during the 2nd quarter valued at approximately $297,000. Hedge funds and other institutional investors own 56.14% of the company’s stock.

About Capital Bancorp

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.