Capital Bancorp (NASDAQ:CBNK) Price Target Raised to $40.00

Capital Bancorp (NASDAQ:CBNK) had its price objective hoisted by Keefe, Bruyette & Woods from $35.00 to $40.00 in a report issued on Monday morning,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Capital Bancorp in a research report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.33.

Capital Bancorp Stock Performance

Shares of CBNK stock opened at $37.54 on Monday. Capital Bancorp has a 12-month low of $26.40 and a 12-month high of $38.83. The business’s fifty day simple moving average is $34.78 and its 200-day simple moving average is $32.09. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. The company has a market cap of $611.53 million, a PE ratio of 11.04 and a beta of 0.52.

Capital Bancorp (NASDAQ:CBNK) last announced its earnings results on Monday, July 27th. The financial services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.05. Capital Bancorp had a return on equity of 13.30% and a net margin of 17.47%.The firm had revenue of $65.29 million for the quarter, compared to the consensus estimate of $66.54 million. Analysts expect that Capital Bancorp will post 3.43 earnings per share for the current fiscal year.

Capital Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be paid a $0.14 dividend. The ex-dividend date is Monday, August 10th. This is a positive change from Capital Bancorp’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. Capital Bancorp’s dividend payout ratio (DPR) is currently 14.12%.

Hedge Funds Weigh In On Capital Bancorp

Several institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in Capital Bancorp by 48.4% in the first 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 in the last quarter. Franklin Resources Inc. purchased a new position in shares of Capital Bancorp in the 2nd quarter valued at about $201,000. Rhumbline Advisers raised its holdings in Capital Bancorp by 23.9% in the 2nd quarter. Rhumbline Advisers now owns 18,378 shares of the financial services provider’s stock worth $617,000 after purchasing an additional 3,545 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in 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 worth $5,118,000 after purchasing an additional 86,062 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Capital Bancorp by 6.4% in the second quarter. First Trust Advisors LP now owns 10,571 shares of the financial services provider’s stock valued at $355,000 after purchasing an additional 632 shares during the period. 56.14% of the stock is owned by hedge funds and other institutional investors.

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.