Hovde Group Cuts Capital Bancorp (NASDAQ:CBNK) Price Target to $26.00

Capital Bancorp (NASDAQ:CBNK) had its price target decreased by Hovde Group from $27.00 to $26.00 in a report published on Tuesday, MarketBeat Ratings reports. Hovde Group currently has an outperform rating on the financial services provider’s stock.

A number of other analysts also recently commented on the stock. Stephens upgraded shares of Capital Bancorp from an equal weight rating to an overweight rating and boosted their price target for the stock from $25.00 to $28.00 in a research report on Monday, April 1st. Keefe, Bruyette & Woods reissued a market perform rating and set a $25.00 target price on shares of Capital Bancorp in a report on Monday, April 1st.

Capital Bancorp Stock Performance

Shares of NASDAQ CBNK opened at $19.64 on Tuesday. Capital Bancorp has a 12-month low of $15.36 and a 12-month high of $25.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.19. The company has a market cap of $272.80 million, a PE ratio of 8.30 and a beta of 0.41. The stock has a 50 day simple moving average of $20.28 and a 200-day simple moving average of $21.24.

Capital Bancorp (NASDAQ:CBNK) last released its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. Capital Bancorp had a return on equity of 13.56% and a net margin of 15.35%. The company had revenue of $52.91 million during the quarter, compared to analysts’ expectations of $42.48 million. On average, equities research analysts forecast that Capital Bancorp will post 2.47 EPS for the current year.

Capital Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, May 6th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.63%. Capital Bancorp’s dividend payout ratio (DPR) is presently 13.68%.

Hedge Funds Weigh In On Capital Bancorp

A number of hedge funds have recently modified their holdings of CBNK. Comerica Bank boosted its position in shares of Capital Bancorp by 41.3% in the 4th quarter. Comerica Bank now owns 49,356 shares of the financial services provider’s stock valued at $1,194,000 after purchasing an additional 14,427 shares during the period. AJOVista LLC acquired a new position in shares of Capital Bancorp in the fourth quarter worth about $33,000. New York State Common Retirement Fund increased its position in shares of Capital Bancorp by 28.6% in the fourth quarter. New York State Common Retirement Fund now owns 3,185 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 708 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Capital Bancorp by 35.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 111,328 shares of the financial services provider’s stock worth $2,694,000 after acquiring an additional 29,147 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Capital Bancorp during the fourth quarter valued at approximately $125,000. 56.14% of the stock is currently owned by institutional investors and hedge funds.

Capital Bancorp Company Profile

Capital Bancorp, Inc operates as the bank holding company for Capital Bank, N.A. that provides various banking products and services to businesses, not-for-profit associations, and entrepreneurs in Maryland, Virginia, and the District of Columbia. It operates through Commercial Banking, Capital Bank Home Loans, and OpenSky segments.