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

by · The Markets Daily

Capital Bancorp, Inc. (NASDAQ:CBNK – Get Free Report)’s stock price reached a new 52-week high during trading on Wednesday. The company traded as high as $39.52 and last traded at $39.6740, with a volume of 83954 shares trading hands. The stock had previously closed at $35.65.

Analysts Set New Price Targets

A number of equities analysts have commented on CBNK shares. Weiss Ratings reissued a “buy (b)” rating on shares of Capital Bancorp in a report on Friday. Keefe, Bruyette & Woods boosted their target price on Capital Bancorp from $35.00 to $40.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Finally, Raymond James Financial began coverage on Capital Bancorp in a report on Thursday, September 3rd. They issued a “market perform” rating for the company. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.33.

Get Our Latest Analysis on Capital Bancorp

Capital Bancorp Stock Up 11.6%

The firm’s fifty day moving average is $36.68 and its 200-day moving average is $33.74. The stock has a market capitalization of $647.87 million, a PE ratio of 11.72 and a beta of 0.51. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.12.

Capital Bancorp (NASDAQ:CBNK – Get Free Report) last released its earnings results on Monday, July 27th. The financial services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. The company had revenue of $65.29 million during the quarter, compared to the consensus estimate of $66.54 million. Capital Bancorp had a return on equity of 13.14% and a net margin of 17.47%. On average, equities research analysts predict that Capital Bancorp, Inc. will post 3.47 earnings per share for the current year.

Capital Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th were given a dividend of $0.14 per share. The ex-dividend date was Monday, August 10th. This is a positive change from Capital Bancorp’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. Capital Bancorp’s dividend payout ratio (DPR) is presently 16.47%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CBNK. BlackRock Inc. purchased a new stake in shares of Capital Bancorp in the second quarter valued at about $27,625,000. Ategra Capital Management LLC purchased a new position in shares of Capital Bancorp during the 2nd quarter worth approximately $8,122,000. Empowered Funds LLC acquired a new position in shares of Capital Bancorp during the 2nd quarter worth approximately $3,664,000. Sei Investments Co. lifted its stake in Capital Bancorp by 104.1% in the 1st quarter. Sei Investments Co. now owns 167,222 shares of the financial services provider’s stock valued at $4,973,000 after buying an additional 85,293 shares in the last quarter. Finally, De Lisle Partners LLP acquired a new stake in Capital Bancorp during the 2nd quarter valued at $2,667,000. Hedge funds and other institutional investors own 56.14% of the company’s stock.

Capital Bancorp Company Profile

(Get Free Report)

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

Capital Bank offers deposit accounts, commercial and residential real estate lending, commercial and industrial loans, small business financing, treasury management, mortgage lending, and other banking services.

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