Zacks Investment Research upgraded shares of Capital Bancorp (NASDAQ:CBNK) from a hold rating to a buy rating in a report released on Thursday, Zacks.com reports. They currently have $11.00 price objective on the financial services provider’s stock.
According to Zacks, “Capital Bancorp Inc. is a bank holding company for Capital Bank, National Association. Capital Bank, National Association, is a commercial-focused national banking association which offers commercial and consumer banking services. The Company offers personal and commercial banking services, as well as cash management, commercial lending, consumer credit and residential mortgage and home loans. Capital Bancorp Inc. is based in Rockville, United States. “
A number of other research analysts also recently issued reports on the company. ValuEngine downgraded Capital Bancorp from a sell rating to a strong sell rating in a research note on Friday, June 5th. Piper Sandler dropped their price objective on Capital Bancorp from $12.00 to $10.50 and set a neutral rating on the stock in a research note on Wednesday.
NASDAQ CBNK opened at $9.30 on Thursday. The business’s 50-day moving average price is $10.26 and its two-hundred day moving average price is $10.67. Capital Bancorp has a 12 month low of $6.98 and a 12 month high of $15.07. The firm has a market capitalization of $130.74 million, a PE ratio of 7.56 and a beta of 0.26. The company has a current ratio of 1.08, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.
Capital Bancorp (NASDAQ:CBNK) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. The company had revenue of $32.45 million for the quarter, compared to the consensus estimate of $26.70 million. Capital Bancorp had a return on equity of 12.79% and a net margin of 13.98%. As a group, analysts forecast that Capital Bancorp will post 1.17 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in Capital Bancorp by 93.3% during the 2nd quarter. Bank of America Corp DE now owns 3,058 shares of the financial services provider’s stock worth $33,000 after buying an additional 1,476 shares during the period. First Quadrant L P CA purchased a new stake in shares of Capital Bancorp in the second quarter worth approximately $123,000. Rhumbline Advisers raised its stake in shares of Capital Bancorp by 30.9% in the first quarter. Rhumbline Advisers now owns 14,842 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 3,500 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Capital Bancorp by 7.7% in the second quarter. First Trust Advisors LP now owns 16,906 shares of the financial services provider’s stock worth $181,000 after purchasing an additional 1,208 shares during the last quarter. Finally, Globeflex Capital L P purchased a new stake in shares of Capital Bancorp in the first quarter worth approximately $215,000. 24.13% of the stock is currently owned by institutional investors and hedge funds.
About Capital Bancorp
Capital Bancorp, Inc operates as the bank holding company for Capital Bank, N.A. that provides various commercial banking products and services to businesses, not-for-profit associations, and entrepreneurs in the United States. The company offers a range of deposit products and services, including various checking and savings accounts, certificates of deposit, money market accounts, debit cards, remote deposit capture services, online and mobile banking services, e-statements, and bank-by-mail and direct deposit services, as well as business accounts, and cash and treasury management services.
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