Capital Bancorp (NASDAQ:CBNK) Price Target Raised to $40.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised Capital Bancorp’s price target to $40 from $35 while maintaining a “market perform” rating, implying 5.37% potential upside from the prior close.
• Capital Bancorp reported quarterly EPS of $0.87, beating the $0.82 consensus estimate, although revenue of $65.29 million came in below expectations of $66.54 million.
• Shares rose to $37.96 and are near their 52-week high of $38.83. Analysts’ average rating is “Moderate Buy,” with a consensus price target of $37.33, while institutional investors own 56.14% of the stock.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) had its price target lifted by investment analysts at Keefe, Bruyette & Woods from $35.00 to $40.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 5.37% from the company's previous close.

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of Capital Bancorp in a research note on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $37.33.

Capital Bancorp Stock Performance

CBNK stock traded up $0.63 during trading hours on Monday, reaching $37.96. The stock had a trading volume of 21,056 shares, compared to its average volume of 62,964. The stock has a 50-day simple moving average of $34.42 and a 200 day simple moving average of $31.91. Capital Bancorp has a fifty-two week low of $26.40 and a fifty-two week high of $38.83. The stock has a market capitalization of $618.37 million, a PE ratio of 11.16 and a beta of 0.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.03.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last issued its earnings results on Monday, July 27th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.05. The company 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 13.30%. Analysts predict that Capital Bancorp will post 3.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Capital Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of CBNK. Advisory Services Network LLC bought a new position in Capital Bancorp during the third quarter worth about $29,000. State of Alaska Department of Revenue grew its position in shares of Capital Bancorp by 135.1% during the 4th quarter. State of Alaska Department of Revenue now owns 1,580 shares of the financial services provider's stock worth $43,000 after purchasing an additional 908 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in shares of Capital Bancorp during the 3rd quarter worth approximately $61,000. Daytona Street Capital LLC bought a new position in shares of Capital Bancorp during the fourth quarter worth approximately $72,000. Finally, Franklin Resources Inc. acquired a new stake in shares of Capital Bancorp in the second quarter valued at approximately $201,000. Institutional investors and hedge funds 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. The company offers a range of deposit products, including checking and savings, time, interest bearing and noninterest-bearing demand, and money market accounts, as well as certificates of deposit; and credit cards.

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