Capital Bancorp (NASDAQ:CBNK) Sets New 12-Month High - Here's Why

Shares of Capital Bancorp, Inc. (NASDAQ:CBNK - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $34.00 and last traded at $33.92, with a volume of 8360 shares. The stock had previously closed at $32.48.

Analysts Set New Price Targets

CBNK has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Capital Bancorp from $32.00 to $35.00 and gave the stock a "market perform" rating in a report on Friday, February 7th. Hovde Group reduced their target price on Capital Bancorp from $36.00 to $34.00 and set an "outperform" rating on the stock in a research note on Monday, March 17th.

Capital Bancorp Stock Performance

The firm has a market cap of $551.60 million, a PE ratio of 15.57 and a beta of 0.70. The company has a 50 day simple moving average of $28.51 and a 200-day simple moving average of $28.94. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 1.02.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last issued its earnings results on Monday, April 28th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.21. The firm had revenue of $58.60 million for the quarter, compared to analysts' expectations of $57.54 million. Capital Bancorp had a net margin of 12.66% and a return on equity of 14.89%. As a group, equities research analysts anticipate that Capital Bancorp, Inc. will post 3.17 EPS for the current year.

Capital Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 12th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Monday, May 12th. Capital Bancorp's payout ratio is currently 16.13%.

Institutional Investors Weigh In On Capital Bancorp

Several hedge funds have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Capital Bancorp by 5.5% in 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 in the last quarter. Ackerman Asset Management LLC purchased a new stake in Capital Bancorp during the 1st quarter valued at $1,020,000. Seizert Capital Partners LLC bought a new position in shares of Capital Bancorp during the 1st quarter valued at $1,840,000. De Lisle Partners LLP boosted its stake in shares of Capital Bancorp by 18.9% in the 1st quarter. De Lisle Partners LLP now owns 62,241 shares of the financial services provider's stock worth $1,761,000 after buying an additional 9,912 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in Capital Bancorp by 12.7% during the first quarter. Federated Hermes Inc. now owns 3,977 shares of the financial services provider's stock valued at $113,000 after acquiring an additional 449 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.

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