Capital Bancorp (NASDAQ:CBNK) Reaches New 12-Month High – Here’s Why

Shares of Capital Bancorp, Inc. (NASDAQ:CBNK – Get Free Report) hit a new 52-week high on Wednesday. The company traded as high as $39.52 and last traded at $39.6740, with a volume of 83954 shares traded. The stock had previously closed at $35.65.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods upped 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. Raymond James Financial assumed coverage on Capital Bancorp in a report on Thursday, September 3rd. They issued a “market perform” rating for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Capital Bancorp in a research note on Friday. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.33.

Read Our Latest Analysis on CBNK

Capital Bancorp Stock Up 11.6%

The stock has a market cap of $647.87 million, a PE ratio of 11.72 and a beta of 0.51. The business has a fifty day moving average of $36.68 and a 200-day moving average of $33.74. 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 – Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. Capital Bancorp had a net margin of 17.47% and a return on equity of 13.14%. The firm had revenue of $65.29 million for the quarter, compared to the consensus estimate 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 business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis 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

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Capital Bancorp during the 2nd quarter worth about $27,625,000. Dimensional Fund Advisors LP raised its stake in shares of Capital Bancorp by 5.1% in the first quarter. Dimensional Fund Advisors LP now owns 355,466 shares of the financial services provider’s stock worth $10,571,000 after purchasing an additional 17,264 shares during the last quarter. Ategra Capital Management LLC acquired a new stake in shares of Capital Bancorp during the second quarter worth about $8,122,000. Kennedy Capital Management LLC boosted its holdings in shares of Capital Bancorp by 0.3% in the 4th quarter. Kennedy Capital Management LLC now owns 262,462 shares of the financial services provider’s stock valued at $7,394,000 after acquiring an additional 750 shares during the last quarter. Finally, Sei Investments Co. grew its position in Capital Bancorp by 104.1% during the 1st quarter. Sei Investments Co. now owns 167,222 shares of the financial services provider’s stock worth $4,973,000 after purchasing an additional 85,293 shares during the period. 56.14% of the stock is owned by hedge funds and other institutional investors.

About Capital Bancorp

(Get Free Report)

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.

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