Capital Bancorp (NASDAQ:CBNK) Sees Strong Trading Volume – Here’s Why

Capital Bancorp, Inc. (NASDAQ:CBNK) saw unusually-strong trading volume on Friday. 164,012 shares changed hands during trading, an increase of 149% from the previous session’s volume of 65,997 shares. The stock last traded at $40.2720 and had previously closed at $39.80.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Capital Bancorp in a research report on Friday, September 25th. Hovde Group downgraded shares of Capital Bancorp from a “strong-buy” rating to a “hold” rating and set a $42.00 target price on the stock. in a research note on Thursday. Raymond James Financial assumed coverage on shares of Capital Bancorp in a report on Thursday, September 3rd. They set a “market perform” rating on the stock. Brean Capital lowered Capital Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods raised their price target on Capital Bancorp from $35.00 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.67.

Capital Bancorp Stock Up 1.3%

The stock has a market cap of $656.65 million, a PE ratio of 11.86 and a beta of 0.52. The business has a fifty day moving average of $36.84 and a 200-day moving average of $33.90. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.03 and a quick ratio of 1.03.

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

Capital Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, August 10th. This is a positive change from Capital Bancorp’s previous quarterly dividend of $0.12. Capital Bancorp’s dividend payout ratio (DPR) is currently 16.47%.

Institutional Investors Weigh In On Capital Bancorp

Hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC bought a new position in Capital Bancorp in the second quarter worth approximately $324,000. Squarepoint Ops LLC boosted its position in 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 bought a new position in Capital Bancorp in the second quarter worth about $310,000. Empowered Funds LLC purchased a new stake in shares of Capital Bancorp during the second quarter valued at about $3,664,000. Finally, Bank of America Corp DE acquired a new stake in Capital Bancorp in the second quarter valued at approximately $705,000. Hedge funds and other institutional investors own 56.14% of the company’s stock.

Capital Bancorp Company Profile

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

Capital Bank offers deposit accounts, commercial and residential real estate lending, commercial and industrial loans, small business financing, treasury management, mortgage lending, and other banking services.