Capital Bancorp (NASDAQ:CBNK) Sets New 52-Week High – What’s Next?

Capital Bancorp, Inc. (NASDAQ:CBNK)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $36.41 and last traded at $36.36, with a volume of 35562 shares. The stock had previously closed at $35.12.

Analyst Upgrades and Downgrades

CBNK has been the topic of several analyst reports. Weiss Ratings raised Capital Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 4th. Keefe, Bruyette & Woods boosted their target price on shares of Capital Bancorp from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Capital Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

Capital Bancorp Trading Up 3.2%

The business’s 50 day simple moving average is $32.25 and its two-hundred day simple moving average is $30.78. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The stock has a market cap of $590.59 million, a P/E ratio of 10.95 and a beta of 0.55.

Capital Bancorp (NASDAQ:CBNK) last announced its earnings results on Monday, April 27th. The financial services provider reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.05). The firm had revenue of $62.77 million for the quarter, compared to the consensus estimate of $62.41 million. Capital Bancorp had a return on equity of 13.48% and a net margin of 17.48%. As a group, analysts expect that Capital Bancorp, Inc. will post 3.4 EPS for the current year.

Capital Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 11th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, May 11th. Capital Bancorp’s payout ratio is presently 14.50%.

Institutional Trading of Capital Bancorp

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its stake in Capital Bancorp by 48.4% during the first quarter. AQR Capital Management LLC now owns 13,299 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 4,336 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Capital Bancorp during the 2nd quarter worth about $201,000. Rhumbline Advisers grew its stake in shares of Capital Bancorp by 23.9% in the 2nd quarter. Rhumbline Advisers now owns 18,378 shares of the financial services provider’s stock valued at $617,000 after buying an additional 3,545 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Capital Bancorp by 129.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 152,410 shares of the financial services provider’s stock valued at $5,118,000 after acquiring an additional 86,062 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Capital Bancorp by 6.4% during the second quarter. First Trust Advisors LP now owns 10,571 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 632 shares in the last quarter. Institutional investors and hedge funds own 56.14% of the company’s stock.

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. The company offers a range of deposit products, including checking and savings, time, interest bearing and noninterest-bearing demand, and money market accounts, as well as certificates of deposit; and credit cards.