Capital Bancorp (NASDAQ:CBNK) Sets New 12-Month High – Here’s What Happened

Capital Bancorp, Inc. (NASDAQ:CBNK) shares reached a new 52-week high on Tuesday. The company traded as high as $40.83 and last traded at $40.79, with a volume of 46,298 shares trading hands. The stock had previously closed at $39.39.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Stephens downgraded shares of Capital Bancorp from an “overweight” rating to an “equal weight” rating in a report on Friday, October 16th. Brean Capital lowered Capital Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 30th. Hovde Group cut Capital Bancorp from a “strong-buy” rating to a “hold” rating and set a $42.00 price target on the stock. in a report on Thursday, October 1st. Raymond James Financial began coverage on Capital Bancorp in a research report on Thursday, September 3rd. They issued a “market perform” rating on the stock. Finally, Keefe, Bruyette & Woods boosted their price objective 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. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Capital Bancorp has a consensus rating of “Hold” and an average target price of $39.67.

Capital Bancorp Stock Down 0.4%

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $657.14 million, a P/E ratio of 11.86 and a beta of 0.52. The company has a 50 day simple moving average of $37.40 and a two-hundred day simple moving average of $34.90.

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

Capital Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 10th were given a dividend of $0.14 per share. 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 dividend yield of 1.4%. The ex-dividend date was Monday, August 10th. Capital Bancorp’s dividend payout ratio (DPR) is currently 16.47%.

Institutional Trading of Capital Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of CBNK. Cassilly Financial Group LLC purchased a new stake in Capital Bancorp in the 3rd quarter worth $206,000. Sequoia Financial Advisors LLC bought a new position in shares of Capital Bancorp during the 2nd quarter valued at about $324,000. Squarepoint Ops LLC grew its position in shares of Capital Bancorp by 31.9% during the second quarter. Squarepoint Ops LLC now owns 137,954 shares of the financial services provider’s stock valued at $4,845,000 after purchasing an additional 33,402 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Capital Bancorp during the second quarter valued at about $310,000. Finally, Empowered Funds LLC purchased a new position in shares of Capital Bancorp during the second quarter valued at about $3,664,000. 56.14% of the stock is currently owned by institutional investors.

About Capital Bancorp

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

Capital Bank offers a range of deposit products, commercial and residential real estate lending, business loans, lines of credit, equipment financing, treasury management and other cash-management services. The company also provides mortgage banking services, including residential mortgage origination, and serves small businesses through lending and related financial solutions.

Capital Bancorp primarily serves customers in the Washington, DC, metropolitan area, including Maryland, Virginia and the District of Columbia.