Capital Bancorp (NASDAQ:CBNK) Hits New 52-Week High – What’s Next?

Shares of Capital Bancorp, Inc. (NASDAQ:CBNK) hit a new 52-week high during trading on Thursday . The stock traded as high as $36.50 and last traded at $36.63, with a volume of 18004 shares traded. The stock had previously closed at $35.50.

Analyst Upgrades and Downgrades

CBNK has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of Capital Bancorp from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Weiss Ratings restated 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 assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.33.

Capital Bancorp Price Performance

The company has a market cap of $596.39 million, a P/E ratio of 11.05 and a beta of 0.54. 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 has a 50 day moving average price of $33.08 and a two-hundred day moving average price of $31.24.

Capital Bancorp (NASDAQ:CBNK) last released its quarterly earnings data 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 business had revenue of $62.77 million during the quarter, compared to analysts’ expectations of $62.41 million. Capital Bancorp had a net margin of 17.48% and a return on equity of 13.48%. On average, analysts predict that Capital Bancorp, Inc. will post 3.4 EPS for the current fiscal year.

Capital Bancorp Dividend Announcement

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

Institutional Investors Weigh In On Capital Bancorp

Several institutional investors have recently added to or reduced their stakes in CBNK. Advisory Services Network LLC bought a new position in shares of Capital Bancorp during the third quarter valued at about $29,000. State of Alaska Department of Revenue grew its stake in shares of Capital Bancorp by 135.1% in 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 last quarter. Aquatic Capital Management LLC purchased a new position in Capital Bancorp during the 3rd quarter valued at about $61,000. Daytona Street Capital LLC purchased a new position in Capital Bancorp during the 4th quarter valued at about $72,000. Finally, Franklin Resources Inc. bought a new position in Capital Bancorp during the 2nd quarter valued at approximately $201,000. Hedge funds and other institutional investors own 56.14% of the company’s stock.

About Capital Bancorp

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.