Capital Bancorp (NASDAQ:CBNK) Stock Rating Lowered by Wall Street Zen

Key Points

• Capital Bancorp has been downgraded by Wall Street Zen from a "buy" rating to a "hold" rating, signaling a shift in analyst sentiment towards the stock.
• Despite the downgrade, analysts from Hovde Group and Keefe, Bruyette & Woods have raised their price targets, indicating continued interest in the company's potential.
• Recent insider trading shows COO Steven M. Poynot increased his stake in Capital Bancorp by purchasing 750 shares, which could reflect confidence in the company's future performance.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Several other analysts have also recently issued reports on CBNK. Hovde Group upped their target price on Capital Bancorp from $35.00 to $39.00 and gave the company an "outperform" rating in a report on Tuesday. Keefe, Bruyette & Woods upped their price target on Capital Bancorp from $33.00 to $35.00 and gave the company a "market perform" rating in a research note on Monday, May 12th.

Capital Bancorp Stock Down 1.8%

Shares of NASDAQ:CBNK opened at $30.91 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average of $33.21 and a two-hundred day moving average of $30.97. The stock has a market cap of $514.87 million, a P/E ratio of 11.58 and a beta of 0.69. Capital Bancorp has a 52-week low of $22.68 and a 52-week high of $36.40.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last issued its earnings results on Monday, July 28th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.04). The company had revenue of $60.75 million during the quarter, compared to analysts' expectations of $61.29 million. Capital Bancorp had a net margin of 15.14% and a return on equity of 16.06%. On average, research analysts expect that Capital Bancorp will post 3.17 earnings per share for the current year.

Insider Activity at Capital Bancorp

In other Capital Bancorp news, COO Steven M. Poynot purchased 750 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were acquired 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 approximately $175,187.55. This trade represents a 16.66% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 31.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Capital Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. boosted its holdings in Capital Bancorp by 70.4% during the 4th quarter. Alliancebernstein L.P. now owns 614,473 shares of the financial services provider's stock valued at $17,512,000 after acquiring an additional 253,819 shares during the period. Vanguard Group Inc. boosted its holdings in Capital Bancorp by 14.4% during the 4th quarter. Vanguard Group Inc. now owns 558,300 shares of the financial services provider's stock valued at $15,912,000 after acquiring an additional 70,420 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Capital Bancorp by 6.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 263,623 shares of the financial services provider's stock valued at $7,513,000 after acquiring an additional 16,957 shares during the period. Geode Capital Management LLC boosted its holdings in Capital Bancorp by 15.9% during the 4th quarter. Geode Capital Management LLC now owns 240,893 shares of the financial services provider's stock valued at $6,867,000 after acquiring an additional 33,009 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Capital Bancorp by 75.1% during the 1st quarter. American Century Companies Inc. now owns 149,662 shares of the financial services provider's stock valued at $4,240,000 after acquiring an additional 64,213 shares during the period. 56.14% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.