Capital Bancorp (NASDAQ:CBNK) Hits New 52-Week High - Time to Buy?

Key Points

• Capital Bancorp shares reached a new 52-week high of $42.53 and were recently trading around $42.64, up 2.7%, with the stock above its 50-day and 200-day moving averages.
• Analyst sentiment is cautious: six analysts rate the stock a Hold and one rates it Buy, producing an average rating of Hold and an average price target of $41—below the recent trading price.
• The company reported quarterly EPS of $0.89, slightly below the $0.92 consensus estimate, while revenue also missed expectations. Capital Bancorp declared a quarterly dividend of $0.14 per share, representing a 1.3% annualized yield.

Capital Bancorp, Inc. (NASDAQ:CBNK - Get Free Report) reached a new 52-week high during mid-day trading on Monday. The company traded as high as $42.53 and last traded at $42.6440, with a volume of 1,738 shares. The stock had previously closed at $41.72.

Analyst Upgrades and Downgrades

CBNK has been the subject of several analyst reports. Stephens cut shares of Capital Bancorp from an "overweight" rating to an "equal weight" rating in a research note on Friday, October 16th. Raymond James Financial started coverage on Capital Bancorp in a research report on Thursday, September 3rd. They issued a "market perform" rating on the stock. Hovde Group downgraded shares of Capital Bancorp from a "strong-buy" rating to a "hold" rating and set a $42.00 target price on the stock. in a research report on Thursday, October 1st. Brean Capital downgraded shares of Capital Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 30th. Finally, Keefe, Bruyette & Woods lifted their target price on Capital Bancorp from $35.00 to $40.00 and gave the stock a "market perform" rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $41.00.

Capital Bancorp Stock Up 2.7%

The company has a 50-day moving average of $38.01 and a two-hundred day moving average of $33.83. The company has a market capitalization of $697.68 million, a P/E ratio of 12.94 and a beta of 0.50. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.12.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last issued its earnings results on Monday, October 26th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.03). Capital Bancorp had a return on equity of 13.63% and a net margin of 16.29%. The firm had revenue of $68.12 million during the quarter, compared to the consensus estimate of $69.01 million. On average, research analysts predict that Capital Bancorp, Inc. will post 3.47 EPS for the current year.

Capital Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 9th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, November 9th. Capital Bancorp's dividend payout ratio (DPR) is currently 16.92%.

Institutional Trading of Capital Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc purchased a new stake in shares of Capital Bancorp during the second quarter valued at $37,000. Cassilly Financial Group LLC bought a new stake in shares of Capital Bancorp in the third quarter worth approximately $206,000. GSA Capital Partners LLP bought a new stake in shares of Capital Bancorp in the second quarter worth approximately $297,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Capital Bancorp during the second quarter valued at approximately $310,000. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Capital Bancorp during the second quarter valued at approximately $324,000. Institutional investors own 56.14% of the company's stock.

About Capital Bancorp

Capital Bancorp, Inc is a bank holding company headquartered in Rockville, Maryland. Through its principal subsidiary, Capital Bank, N.A., the company provides commercial banking products and services to businesses, professionals and individuals.

Capital Bank offers business and commercial real estate lending, construction and development financing, residential mortgage lending, small-business lending, consumer loans and deposit accounts. Its services also include cash management, online and mobile banking, treasury management and other financial solutions designed for commercial and retail customers.

Founded in 1999, Capital Bancorp primarily serves communities in the Washington, DC, metropolitan area, including Maryland and Northern Virginia.

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