Hovde Group Increases Capital Bancorp (NASDAQ:CBNK) Price Target to $28.00

Capital Bancorp (NASDAQ:CBNK) had its target price hoisted by Hovde Group from $26.00 to $28.00 in a research note published on Wednesday morning, Marketbeat reports. They currently have an outperform rating on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on the company. Stephens upgraded Capital Bancorp from an equal weight rating to an overweight rating and upped their price target for the stock from $25.00 to $28.00 in a report on Monday, April 1st. Keefe, Bruyette & Woods raised their target price on shares of Capital Bancorp from $25.00 to $27.00 and gave the company a market perform rating in a report on Tuesday.

Capital Bancorp Stock Performance

NASDAQ CBNK opened at $25.88 on Wednesday. The company has a market cap of $359.47 million, a P/E ratio of 11.06 and a beta of 0.48. Capital Bancorp has a 1-year low of $18.56 and a 1-year high of $26.20. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50-day moving average of $20.86 and a two-hundred day moving average of $20.83.

Capital Bancorp (NASDAQ:CBNK) last released its earnings results on Monday, July 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The business had revenue of $57.51 million for the quarter, compared to analyst estimates of $42.70 million. Capital Bancorp had a return on equity of 13.54% and a net margin of 15.35%. As a group, analysts anticipate that Capital Bancorp will post 2.2 EPS for the current year.

Capital Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Monday, August 5th will be paid a $0.10 dividend. This is a positive change from Capital Bancorp’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Monday, August 5th. Capital Bancorp’s dividend payout ratio is currently 13.68%.

Institutional Trading of Capital Bancorp

Several institutional investors have recently modified their holdings of CBNK. Wedge Capital Management L L P NC lifted its position in Capital Bancorp by 35.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 111,328 shares of the financial services provider’s stock valued at $2,694,000 after acquiring an additional 29,147 shares during the last quarter. Comerica Bank lifted its holdings in shares of Capital Bancorp by 41.3% in the 4th quarter. Comerica Bank now owns 49,356 shares of the financial services provider’s stock valued at $1,194,000 after purchasing an additional 14,427 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Capital Bancorp by 8.1% in the 1st quarter. Empowered Funds LLC now owns 82,066 shares of the financial services provider’s stock valued at $1,709,000 after purchasing an additional 6,125 shares during the period. Acadian Asset Management LLC grew its stake in Capital Bancorp by 11.9% during the 1st quarter. Acadian Asset Management LLC now owns 55,567 shares of the financial services provider’s stock worth $1,155,000 after buying an additional 5,893 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Capital Bancorp during the fourth quarter worth approximately $125,000. Hedge funds and other institutional investors 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.