Capital Bancorp (NASDAQ:CBNK) Hits 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 Thursday . The stock traded as high as $36.50 and last traded at $36.63, with a volume of 18004 shares. The stock had previously closed at $35.50.

Analysts Set New Price Targets

Several research firms recently weighed in on CBNK. Keefe, Bruyette & Woods raised their price objective on Capital Bancorp from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Capital Bancorp in a report on Tuesday, June 30th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Capital Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Capital Bancorp Stock Performance

The stock has a 50 day moving average of $33.08 and a 200 day moving average of $31.24. 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 company has a market capitalization of $596.39 million, a price-to-earnings ratio of 11.05 and a beta of 0.54.

Capital Bancorp (NASDAQ:CBNK) last released 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 analyst estimates of $62.41 million. Capital Bancorp had a net margin of 17.48% and a return on equity of 13.48%. As a group, analysts predict that Capital Bancorp, Inc. will post 3.4 EPS for the current year.

Capital Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 11th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, May 11th. Capital Bancorp’s dividend payout ratio (DPR) is currently 14.50%.

Institutional Trading of Capital Bancorp

A number of institutional investors have recently bought and sold shares of CBNK. Advisory Services Network LLC bought a new position in shares of Capital Bancorp in the 3rd quarter worth about $29,000. State of Alaska Department of Revenue grew its stake in Capital Bancorp by 135.1% during the fourth quarter. State of Alaska Department of Revenue now owns 1,580 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 908 shares during the period. Aquatic Capital Management LLC acquired a new stake in Capital Bancorp during the third quarter worth approximately $61,000. Daytona Street Capital LLC bought a new stake in Capital Bancorp in the fourth quarter worth approximately $72,000. Finally, Franklin Resources Inc. bought a new stake in Capital Bancorp in the second quarter worth approximately $201,000. Institutional investors 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.