Capital Bancorp (NASDAQ:CBNK) Reaches New 1-Year High - Here's What Happened

Key Points

• Capital Bancorp shares reached a new 52-week high, trading as high as $37.00 and last changing hands at $36.92, up from the previous close of $36.13.
• Analysts maintain a cautiously positive outlook: three rate the stock Buy and two rate it Hold, resulting in a consensus rating of “Moderate Buy” and an average price target of $35.33.
• The company’s latest quarterly results were mixed, with revenue of $62.77 million exceeding estimates but EPS of $0.73 falling short of the $0.78 consensus. Institutional investors own 56.14% of the stock, with several funds recently increasing their positions.

Shares of Capital Bancorp, Inc. (NASDAQ:CBNK - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $37.00 and last traded at $36.92, with a volume of 11759 shares traded. The stock had previously closed at $36.13.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Capital Bancorp in a report on Tuesday, June 30th. Keefe, Bruyette & Woods increased their target price on Capital Bancorp from $32.00 to $34.00 and gave the stock a "market perform" rating in a report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.33.

Capital Bancorp Price Performance

The company has a market cap of $592.30 million, a P/E ratio of 10.98 and a beta of 0.54. The company has a fifty day moving average price of $33.80 and a two-hundred day moving average price of $31.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.03.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last released its earnings results on Monday, April 27th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.05). The company had revenue of $62.77 million for the quarter, compared to the consensus estimate of $62.41 million. Capital Bancorp had a return on equity of 13.48% and a net margin of 17.48%. On average, sell-side analysts anticipate that Capital Bancorp, Inc. will post 3.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Capital Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wedge Capital Management L L P NC increased its holdings in Capital Bancorp by 51.1% during the second quarter. Wedge Capital Management L L P NC now owns 86,703 shares of the financial services provider's stock worth $3,045,000 after buying an additional 29,325 shares during the last quarter. Militia Capital Management LLC acquired a new stake in Capital Bancorp in the first quarter valued at $1,398,000. Bank of America Corp DE grew its position in shares of Capital Bancorp by 13.0% in the 1st quarter. Bank of America Corp DE now owns 22,334 shares of the financial services provider's stock valued at $664,000 after acquiring an additional 2,570 shares during the period. Empowered Funds LLC grew its position in shares of Capital Bancorp by 9.8% in the 1st quarter. Empowered Funds LLC now owns 100,542 shares of the financial services provider's stock valued at $2,990,000 after acquiring an additional 8,968 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Capital Bancorp by 104.1% during 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 last quarter. 56.14% of the stock is owned by institutional investors.

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. 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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