Capital Bancorp (NASDAQ:CBNK) Price Target Raised to $32.00 at Keefe, Bruyette & Woods

Capital Bancorp (NASDAQ:CBNK) had its price target increased by investment analysts at Keefe, Bruyette & Woods from $28.00 to $32.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 8.14% from the stock’s current price.

Capital Bancorp Price Performance

NASDAQ:CBNK traded up $0.15 during trading hours on Wednesday, reaching $29.59. 9,046 shares of the company’s stock were exchanged, compared to its average volume of 26,596. The company has a market capitalization of $490.01 million, a P/E ratio of 12.71 and a beta of 0.50. Capital Bancorp has a 12 month low of $19.02 and a 12 month high of $30.12. The business’s 50-day simple moving average is $26.41 and its two-hundred day simple moving average is $24.01. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.23.

Capital Bancorp (NASDAQ:CBNK) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). Capital Bancorp had a return on equity of 12.66% and a net margin of 14.49%. The company had revenue of $59.25 million for the quarter. Sell-side analysts expect that Capital Bancorp will post 2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Dominic C. Canuso purchased 1,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $25.52 per share, for a total transaction of $25,520.00. Following the purchase, the chief financial officer now owns 2,000 shares in the company, valued at $51,040. The trade was a 100.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Steven M. Poynot bought 2,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $25.36 per share, with a total value of $50,720.00. Following the transaction, the chief operating officer now directly owns 4,503 shares of the company’s stock, valued at approximately $114,196.08. This trade represents a 79.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 32.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Capital Bancorp by 0.9% in the first quarter. Vanguard Group Inc. now owns 437,034 shares of the financial services provider’s stock valued at $9,103,000 after purchasing an additional 4,019 shares during the last quarter. Bank of New York Mellon Corp increased its position in Capital Bancorp by 6.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 59,111 shares of the financial services provider’s stock worth $1,212,000 after buying an additional 3,331 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Capital Bancorp by 32.0% during the second quarter. Acadian Asset Management LLC now owns 73,351 shares of the financial services provider’s stock worth $1,502,000 after buying an additional 17,784 shares during the last quarter. Wealthspire Advisors LLC bought a new stake in shares of Capital Bancorp in the second quarter valued at approximately $1,577,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Capital Bancorp by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 227,234 shares of the financial services provider’s stock worth $4,658,000 after acquiring an additional 9,461 shares during the last quarter. 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.