Capital Bancorp (NASDAQ:CBNK) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Capital Bancorp, Inc. (NASDAQ:CBNK)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $30.16 and traded as high as $33.74. Capital Bancorp shares last traded at $33.22, with a volume of 75,235 shares trading hands.

Analyst Upgrades and Downgrades

CBNK has been the subject of a number of research reports. Weiss Ratings upgraded Capital Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 4th. Keefe, Bruyette & Woods raised their price objective on Capital Bancorp from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Capital Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $35.33.

Capital Bancorp Price Performance

The stock has a market capitalization of $548.48 million, a price-to-earnings ratio of 10.17 and a beta of 0.55. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. The stock has a 50-day simple moving average of $31.53 and a 200 day simple moving average of $30.25.

Capital Bancorp (NASDAQ:CBNK) last announced its quarterly earnings data on Monday, April 27th. The financial services provider reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.05). Capital Bancorp had a return on equity of 13.48% and a net margin of 17.48%.The business had revenue of $62.77 million for the quarter, compared to analyst estimates of $62.41 million. On average, equities research analysts forecast that Capital Bancorp, Inc. will post 3.4 EPS for the current fiscal year.

Capital Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 11th were given a dividend of $0.12 per share. The ex-dividend date was Monday, May 11th. This represents a $0.48 dividend on an annualized basis and a yield of 1.4%. Capital Bancorp’s dividend payout ratio (DPR) is presently 14.50%.

Institutional Investors Weigh In On Capital Bancorp

Several institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. lifted its holdings in shares of Capital Bancorp by 1.2% during the 2nd quarter. Alliancebernstein L.P. now owns 622,483 shares of the financial services provider’s stock valued at $20,903,000 after buying an additional 7,510 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Capital Bancorp by 5.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 355,466 shares of the financial services provider’s stock valued at $10,571,000 after buying an additional 17,264 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Capital Bancorp by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 340,712 shares of the financial services provider’s stock valued at $9,600,000 after buying an additional 5,016 shares during the last quarter. Kennedy Capital Management LLC lifted its holdings in shares of Capital Bancorp by 0.3% during the 4th quarter. Kennedy Capital Management LLC now owns 262,462 shares of the financial services provider’s stock valued at $7,394,000 after buying an additional 750 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Capital Bancorp by 104.1% during the 1st quarter. Sei Investments Co. now owns 167,222 shares of the financial services provider’s stock valued at $4,973,000 after buying an additional 85,293 shares during the last quarter. 56.14% of the stock is currently owned by institutional investors and hedge funds.

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. The company offers a range of deposit products, including checking and savings, time, interest bearing and noninterest-bearing demand, and money market accounts, as well as certificates of deposit; and credit cards.