Capital Bancorp (NASDAQ:CBNK) Price Target Raised to $32.00

Capital Bancorp (NASDAQ:CBNK) had its target price hoisted by Keefe, Bruyette & Woods from $31.00 to $32.00 in a research report report published on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on CBNK. Zacks Research raised Capital Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Stephens lowered their target price on shares of Capital Bancorp from $40.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Hovde Group dropped their target price on shares of Capital Bancorp from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Capital Bancorp in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $34.67.

Capital Bancorp Price Performance

CBNK opened at $32.33 on Monday. The firm has a market cap of $534.09 million, a price-to-earnings ratio of 9.51 and a beta of 0.66. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09. The stock’s 50-day moving average price is $29.24 and its 200 day moving average price is $30.46. Capital Bancorp has a 12-month low of $24.69 and a 12-month high of $36.40.

Capital Bancorp (NASDAQ:CBNK) last posted its quarterly earnings results on Monday, January 26th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.83 by $0.08. The business had revenue of $62.74 million during the quarter, compared to the consensus estimate of $60.62 million. Capital Bancorp had a net margin of 18.44% and a return on equity of 14.76%. As a group, sell-side analysts expect that Capital Bancorp will post 3.17 earnings per share for the current year.

Capital Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Monday, February 9th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, February 9th. Capital Bancorp’s dividend payout ratio (DPR) is presently 14.12%.

Insider Activity

In other news, CFO Dominic C. Canuso sold 3,400 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $27.95, for a total value of $95,030.00. Following the sale, the chief financial officer directly owned 1,434 shares in the company, valued at $40,080.30. This represents a 70.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 31.59% of the stock is owned by company insiders.

Institutional Trading of Capital Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of CBNK. Alliancebernstein L.P. boosted its position in shares of Capital Bancorp by 1.2% in the second quarter. Alliancebernstein L.P. now owns 622,483 shares of the financial services provider’s stock worth $20,903,000 after acquiring an additional 7,510 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Capital Bancorp by 3.7% during the third quarter. Dimensional Fund Advisors LP now owns 320,153 shares of the financial services provider’s stock worth $10,213,000 after purchasing an additional 11,546 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Capital Bancorp by 16.7% in the 2nd quarter. Geode Capital Management LLC now owns 282,690 shares of the financial services provider’s stock valued at $9,495,000 after purchasing an additional 40,489 shares during the last quarter. Kennedy Capital Management LLC boosted its holdings in shares of Capital Bancorp by 28.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 261,712 shares of the financial services provider’s stock valued at $8,349,000 after purchasing an additional 58,232 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Capital Bancorp by 12.8% during the 2nd quarter. American Century Companies Inc. now owns 168,797 shares of the financial services provider’s stock valued at $5,668,000 after buying an additional 19,135 shares during the period. 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. 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.