Capital Bancorp (NASDAQ:CBNK) Price Target Raised to $35.00

Capital Bancorp (NASDAQ:CBNK) had its target price raised by Keefe, Bruyette & Woods from $33.00 to $35.00 in a research report report published on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Separately, Hovde Group lowered their target price on Capital Bancorp from $36.00 to $34.00 and set an “outperform” rating on the stock in a research report on Monday, March 17th.

Capital Bancorp Stock Down 1.7%

Shares of CBNK stock opened at $32.75 on Monday. Capital Bancorp has a 12-month low of $19.45 and a 12-month high of $34.01. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. The firm has a fifty day moving average of $28.78 and a 200-day moving average of $29.06. The company has a market capitalization of $545.52 million, a price-to-earnings ratio of 15.38 and a beta of 0.70.

Capital Bancorp (NASDAQ:CBNK) last announced its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.21. Capital Bancorp had a net margin of 12.66% and a return on equity of 14.89%. The business had revenue of $58.60 million for the quarter, compared to analyst estimates of $57.54 million. As a group, equities research analysts predict that Capital Bancorp will post 3.17 earnings per share for the current fiscal year.

Capital Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 12th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Monday, May 12th. Capital Bancorp’s payout ratio is currently 16.13%.

Institutional Trading of Capital Bancorp

A number of hedge funds have recently made changes to their positions in CBNK. Barclays PLC increased its holdings in shares of Capital Bancorp by 297.3% during the 3rd quarter. Barclays PLC now owns 11,918 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 8,918 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Capital Bancorp by 91.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,537 shares of the financial services provider’s stock worth $585,000 after buying an additional 9,798 shares during the period. Wedge Capital Management L L P NC grew its stake in Capital Bancorp by 31.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 93,993 shares of the financial services provider’s stock valued at $2,679,000 after buying an additional 22,381 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Capital Bancorp by 118.4% in the 4th quarter. JPMorgan Chase & Co. now owns 42,491 shares of the financial services provider’s stock valued at $1,211,000 after acquiring an additional 23,033 shares during the period. Finally, First Trust Advisors LP acquired a new stake in Capital Bancorp during the fourth quarter worth approximately $285,000. 56.14% of the stock is owned by institutional investors and hedge funds.

About Capital Bancorp

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.