Capital Bancorp (NASDAQ:CBNK) Reaches New 1-Year High – Here’s What Happened

Capital Bancorp, Inc. (NASDAQ:CBNK)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $37.00 and last traded at $36.92, with a volume of 11759 shares traded. The stock had previously closed at $36.13.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Capital Bancorp in a research note on Tuesday, June 30th. Keefe, Bruyette & Woods raised their price target on Capital Bancorp from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Capital Bancorp Stock Performance

The stock has a 50 day moving average of $33.80 and a 200 day moving average of $31.61. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The firm has a market cap of $592.30 million, a price-to-earnings ratio of 10.98 and a beta of 0.54.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC boosted its holdings in Capital Bancorp by 51.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 86,703 shares of the financial services provider’s stock worth $3,045,000 after acquiring an additional 29,325 shares during the last quarter. Militia Capital Management LLC purchased a new stake in shares of Capital Bancorp during the 1st quarter worth approximately $1,398,000. Bank of America Corp DE raised its holdings in shares of Capital Bancorp by 13.0% in the 1st quarter. Bank of America Corp DE now owns 22,334 shares of the financial services provider’s stock worth $664,000 after purchasing an additional 2,570 shares during the period. Empowered Funds LLC raised its holdings in shares of Capital Bancorp by 9.8% in the 1st quarter. Empowered Funds LLC now owns 100,542 shares of the financial services provider’s stock worth $2,990,000 after purchasing an additional 8,968 shares during the period. Finally, Sei Investments Co. lifted its stake in Capital Bancorp by 104.1% in the first quarter. Sei Investments Co. now owns 167,222 shares of the financial services provider’s stock valued at $4,973,000 after purchasing an additional 85,293 shares during the last quarter. 56.14% of the stock is 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.