Capital Bancorp (NASDAQ:CBNK) Hits New 52-Week High – Here’s What Happened

Shares of Capital Bancorp, Inc. (NASDAQ:CBNK) hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as $40.83 and last traded at $40.79, with a volume of 46,298 shares traded. The stock had previously closed at $39.39.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CBNK. Hovde Group lowered shares of Capital Bancorp from a “strong-buy” rating to a “hold” rating and set a $42.00 price target on the stock. in a report on Thursday, October 1st. Stephens downgraded shares of Capital Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Friday. Brean Capital lowered shares of Capital Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 30th. Keefe, Bruyette & Woods upped their price objective on Capital Bancorp from $35.00 to $40.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Finally, Raymond James Financial started coverage on shares of Capital Bancorp in a research report on Thursday, September 3rd. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Capital Bancorp has an average rating of “Hold” and a consensus target price of $39.67.

Capital Bancorp Stock Up 2.3%

The firm has a market capitalization of $656.73 million, a P/E ratio of 11.87 and a beta of 0.52. The firm’s 50 day moving average is $37.30 and its two-hundred day moving average is $34.75. 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) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.05. The firm had revenue of $65.29 million for the quarter, compared to analysts’ expectations of $66.54 million. Capital Bancorp had a net margin of 17.47% and a return on equity of 13.14%. Research analysts predict that Capital Bancorp, Inc. will post 3.47 EPS for the current year.

Capital Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 10th were given a dividend of $0.14 per share. The ex-dividend date was Monday, August 10th. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. This is a positive change from Capital Bancorp’s previous quarterly dividend of $0.12. Capital Bancorp’s dividend payout ratio (DPR) is 16.47%.

Institutional Trading of Capital Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in CBNK. BlackRock Inc. acquired a new position in Capital Bancorp in the second quarter valued at approximately $27,625,000. Ategra Capital Management LLC purchased a new stake in shares of Capital Bancorp in the second quarter valued at about $8,122,000. Empowered Funds LLC purchased a new position in shares of Capital Bancorp in the 2nd quarter worth about $3,664,000. Sei Investments Co. boosted its stake in Capital Bancorp by 104.1% in 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. Finally, De Lisle Partners LLP purchased a new position in shares of Capital Bancorp during the second quarter worth about $2,667,000. 56.14% of the stock is currently owned by institutional investors.

About Capital Bancorp

Capital Bancorp, Inc is a bank holding company headquartered in Rockville, Maryland. Through its principal subsidiary, Capital Bank, N.A., the company provides commercial banking and financial services to businesses, nonprofit organizations, professional practices and individuals.

Capital Bank offers a range of deposit products, commercial and residential real estate lending, business loans, lines of credit, equipment financing, treasury management and other cash-management services. The company also provides mortgage banking services, including residential mortgage origination, and serves small businesses through lending and related financial solutions.

Capital Bancorp primarily serves customers in the Washington, DC, metropolitan area, including Maryland, Virginia and the District of Columbia.