Capital Bancorp (NASDAQ:CBNK) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Capital Bancorp (NASDAQ:CBNK) from a hold rating to a sell rating in a research note published on Thursday morning, Zacks.com reports.

According to Zacks, “Capital Bancorp Inc. is a bank holding company for Capital Bank, National Association. Capital Bank, National Association, is a commercial-focused national banking association which offers commercial and consumer banking services. The Company offers personal and commercial banking services, as well as cash management, commercial lending, consumer credit and residential mortgage and home loans. Capital Bancorp Inc. is based in Rockville, United States. “

Shares of CBNK stock opened at $11.84 on Thursday. The stock has a market cap of $162.43 million and a price-to-earnings ratio of 11.61. Capital Bancorp has a 1 year low of $10.21 and a 1 year high of $14.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.07 and a current ratio of 1.09.

Capital Bancorp (NASDAQ:CBNK) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). The business had revenue of $18.84 million during the quarter. Analysts predict that Capital Bancorp will post 1.08 earnings per share for the current year.

In other news, Director Randall James Levitt sold 15,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $11.90, for a total transaction of $178,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kathy Yamada sold 4,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $11.89, for a total transaction of $47,560.00. The disclosure for this sale can be found here. 39.37% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in CBNK. Pacific Ridge Capital Partners LLC increased its holdings in shares of Capital Bancorp by 30.7% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 189,552 shares of the financial services provider’s stock valued at $2,203,000 after acquiring an additional 44,509 shares during the period. Planning Solutions Group LLC purchased a new position in shares of Capital Bancorp in the 1st quarter valued at $683,000. Deutsche Bank AG purchased a new position in Capital Bancorp during the 4th quarter worth $95,000. Bronfman E.L. Rothschild L.P. purchased a new position in Capital Bancorp during the 4th quarter worth $2,413,000. Finally, American International Group Inc. purchased a new position in Capital Bancorp during the 4th quarter worth $48,000. Institutional investors and hedge funds own 21.95% of the company’s stock.

About Capital Bancorp

Capital Bancorp, Inc operates as the bank holding company for Capital Bank, N.A. that provides various commercial banking products and services to businesses, not-for-profit associations, and entrepreneurs in the United States. The company offers a range of deposit products and services, including various checking and savings accounts, certificates of deposit, money market accounts, debit cards, remote deposit capture services, online and mobile banking services, e-statements, and bank-by-mail and direct deposit services, as well as business accounts, and cash and treasury management services.

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