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

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

Other analysts also recently issued reports about the stock. Stephens upgraded shares of Capital Bancorp from an equal weight rating to an overweight rating and raised their price objective for the company from $25.00 to $28.00 in a research report on Monday, April 1st. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $25.00 target price on shares of Capital Bancorp in a research note on Monday, April 1st.

Capital Bancorp Stock Down 0.3 %

Shares of CBNK stock opened at $19.58 on Tuesday. The company has a market capitalization of $271.97 million, a price-to-earnings ratio of 8.39 and a beta of 0.41. Capital Bancorp has a one year low of $15.36 and a one year high of $25.00. The company’s fifty day moving average price is $20.24 and its 200-day moving average price is $21.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.02 and a quick ratio of 1.02.

Capital Bancorp Dividend Announcement

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

Hedge Funds Weigh In On Capital Bancorp

Several institutional investors have recently bought and sold shares of the stock. Ballast Asset Management LP purchased a new position in shares of Capital Bancorp in the 3rd quarter worth $2,397,000. Wedge Capital Management L L P NC grew its stake in shares of Capital Bancorp by 35.5% in the 4th 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 buying an additional 29,147 shares in the last quarter. Comerica Bank grew its stake 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 worth $1,194,000 after buying an additional 14,427 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Capital Bancorp in the 4th quarter worth $125,000. Finally, AJOVista LLC purchased a new position in shares of Capital Bancorp in the 4th quarter worth $33,000. 56.14% of the stock is owned by hedge funds and other institutional investors.

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.