Capital Bancorp (NASDAQ:CBNK) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Capital Bancorp (NASDAQ:CBNKGet Free Report) released its quarterly earnings data on Monday. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05, FiscalAI reports. The company had revenue of $65.29 million for the quarter, compared to analyst estimates of $66.54 million. Capital Bancorp had a return on equity of 13.48% and a net margin of 17.48%.

Capital Bancorp Stock Up 0.5%

Shares of CBNK traded up $0.18 during midday trading on Monday, hitting $36.31. 67,309 shares of the company’s stock traded hands, compared to its average volume of 63,229. 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 stock has a market capitalization of $591.49 million, a price-to-earnings ratio of 10.97 and a beta of 0.54. Capital Bancorp has a 1 year low of $26.40 and a 1 year high of $37.00. The firm’s fifty day moving average is $33.80 and its 200-day moving average is $31.61.

Institutional Investors Weigh In On Capital Bancorp

Several institutional investors have recently added to or reduced their stakes in CBNK. Banc Funds Co. LLC increased its holdings in shares of Capital Bancorp by 48.6% during the fourth quarter. Banc Funds Co. LLC now owns 21,400 shares of the financial services provider’s stock valued at $603,000 after acquiring an additional 7,000 shares in the last quarter. Barclays PLC grew its position in Capital Bancorp by 18.0% during the 4th quarter. Barclays PLC now owns 19,449 shares of the financial services provider’s stock worth $548,000 after purchasing an additional 2,963 shares during the last quarter. AQR Capital Management LLC increased its stake 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 purchasing an additional 4,336 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Capital Bancorp by 52.1% in the fourth quarter. Wells Fargo & Company MN now owns 13,054 shares of the financial services provider’s stock worth $368,000 after buying an additional 4,470 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Capital Bancorp by 58.9% during the third quarter. BNP Paribas Financial Markets now owns 10,312 shares of the financial services provider’s stock worth $329,000 after buying an additional 3,821 shares during the period. Institutional investors and hedge funds own 56.14% of the company’s stock.

Analyst Upgrades and Downgrades

CBNK has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price objective on 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 investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Check Out Our Latest Analysis on CBNK

Capital Bancorp Company Profile

(Get Free Report)

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.

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Earnings History for Capital Bancorp (NASDAQ:CBNK)

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