Capital Bancorp (NASDAQ:CBNK) Price Target Raised to $39.00 at Hovde Group

Capital Bancorp (NASDAQ:CBNK) had its target price upped by equities researchers at Hovde Group from $35.00 to $39.00 in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s price objective would indicate a potential upside of 23.34% from the stock’s current price.

Separately, Keefe, Bruyette & Woods increased their price target on Capital Bancorp from $33.00 to $35.00 and gave the stock a “market perform” rating in a research note on Monday, May 12th.

Capital Bancorp Price Performance

Shares of NASDAQ:CBNK opened at $31.62 on Tuesday. The business’s fifty day moving average price is $33.28 and its two-hundred day moving average price is $30.91. The stock has a market cap of $526.79 million, a PE ratio of 11.84 and a beta of 0.69. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.01 and a current ratio of 1.03. Capital Bancorp has a one year low of $22.68 and a one year high of $36.40.

Capital Bancorp (NASDAQ:CBNK) last announced its earnings results on Monday, July 28th. The financial services provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.04). The company had revenue of $60.75 million for the quarter, compared to analyst estimates of $61.29 million. Capital Bancorp had a net margin of 15.14% and a return on equity of 16.06%. On average, analysts forecast that Capital Bancorp will post 3.17 EPS for the current fiscal year.

Insider Buying and Selling at Capital Bancorp

In other Capital Bancorp news, COO Steven M. Poynot purchased 750 shares of Capital Bancorp stock in a transaction on Wednesday, May 14th. The shares were bought at an average price of $33.35 per share, with a total value of $25,012.50. Following the purchase, the chief operating officer directly owned 5,253 shares in the company, valued at $175,187.55. This trade represents a 16.66% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 31.59% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Federated Hermes Inc. increased its holdings in shares of Capital Bancorp by 12.7% during the 1st quarter. Federated Hermes Inc. now owns 3,977 shares of the financial services provider’s stock worth $113,000 after buying an additional 449 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Capital Bancorp by 5.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,664 shares of the financial services provider’s stock worth $614,000 after buying an additional 1,127 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Capital Bancorp by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 5,400 shares of the financial services provider’s stock worth $154,000 after buying an additional 1,177 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Capital Bancorp by 19.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 10,749 shares of the financial services provider’s stock worth $306,000 after buying an additional 1,754 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Capital Bancorp by 33.8% during the 4th quarter. Bank of America Corp DE now owns 11,365 shares of the financial services provider’s stock worth $324,000 after buying an additional 2,873 shares during the last quarter. Hedge funds and other institutional investors own 56.14% of the company’s stock.

Capital Bancorp Company Profile

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.