Hovde Group Cuts Capital Bancorp (NASDAQ:CBNK) Price Target to $26.00

Capital Bancorp (NASDAQ:CBNK) had its price target trimmed by Hovde Group from $27.00 to $26.00 in a research note published on Tuesday, MarketBeat Ratings reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on the stock. Stephens upgraded shares of Capital Bancorp from an equal weight rating to an overweight rating and increased their target price for the company from $25.00 to $28.00 in a research report on Monday, April 1st. Keefe, Bruyette & Woods reissued a market perform rating and issued a $25.00 price objective on shares of Capital Bancorp in a report on Monday, April 1st.

Capital Bancorp Stock Performance

NASDAQ:CBNK opened at $19.58 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.02 and a current ratio of 1.02. The company has a fifty day moving average of $20.24 and a two-hundred day moving average of $21.23. The stock has a market capitalization of $271.97 million, a PE ratio of 8.39 and a beta of 0.41. Capital Bancorp has a fifty-two week low of $15.36 and a fifty-two week high of $25.00.

Capital Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, May 6th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Friday, May 3rd. Capital Bancorp’s dividend payout ratio is currently 13.68%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CBNK. Ballast Asset Management LP purchased a new position in Capital Bancorp during the third quarter worth about $2,397,000. Wedge Capital Management L L P NC lifted its position in shares of Capital Bancorp by 35.5% during the fourth quarter. Wedge Capital Management L L P NC now owns 111,328 shares of the financial services provider’s stock worth $2,694,000 after purchasing an additional 29,147 shares in the last quarter. Comerica Bank lifted its position in shares of Capital Bancorp by 41.3% during the fourth quarter. Comerica Bank now owns 49,356 shares of the financial services provider’s stock worth $1,194,000 after purchasing an additional 14,427 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Capital Bancorp during the fourth quarter worth about $125,000. Finally, AJOVista LLC acquired a new stake in shares of Capital Bancorp during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 56.14% of the company’s stock.

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.