Capital Bancorp (NASDAQ:CBNK) Hits New 12-Month High – What’s Next?

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on CBNK. Keefe, Bruyette & Woods increased their price target on shares of 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 reissued a “buy (b)” rating on shares of Capital Bancorp in a report on Tuesday. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.33.

Capital Bancorp Stock Down 1.7%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s 50-day moving average is $32.40 and its 200 day moving average is $30.86. The firm has a market capitalization of $578.62 million, a PE ratio of 10.73 and a beta of 0.54.

Capital Bancorp (NASDAQ:CBNK) last issued its quarterly earnings data on Monday, April 27th. The financial services provider reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.05). The business had revenue of $62.77 million during 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, research analysts forecast that Capital Bancorp, Inc. will post 3.4 earnings per share for the current fiscal year.

Capital Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders 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 dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, May 11th. Capital Bancorp’s dividend payout ratio (DPR) is 14.50%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CBNK. AQR Capital Management LLC grew its holdings in Capital Bancorp by 48.4% during the 1st quarter. AQR Capital Management LLC now owns 13,299 shares of the financial services provider’s stock valued at $377,000 after buying an additional 4,336 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Capital Bancorp in the second quarter valued at $201,000. Rhumbline Advisers boosted its stake in shares of Capital Bancorp by 23.9% during the second quarter. Rhumbline Advisers now owns 18,378 shares of the financial services provider’s stock valued at $617,000 after acquiring an additional 3,545 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Capital Bancorp by 129.7% during 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 last quarter. Finally, First Trust Advisors LP increased its position in Capital Bancorp by 6.4% during the 2nd quarter. First Trust Advisors LP now owns 10,571 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 632 shares in 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. 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.