Capital Bancorp (NASDAQ:CBNK) Releases Quarterly Earnings Results

Capital Bancorp (NASDAQ:CBNK) released its quarterly earnings results on Monday. The financial services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05, FiscalAI reports. Capital Bancorp had a net margin of 17.48% and a return on equity of 13.48%. The business had revenue of $65.29 million for the quarter, compared to analysts’ expectations of $66.54 million.

Capital Bancorp Stock Performance

Shares of NASDAQ:CBNK traded up $0.18 on Monday, hitting $36.31. 67,312 shares of the company were exchanged, compared to its average volume of 63,245. The firm has a market capitalization of $591.49 million, a P/E ratio of 10.97 and a beta of 0.54. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. Capital Bancorp has a 1-year low of $26.40 and a 1-year high of $37.00. The stock’s 50 day moving average price is $33.80 and its 200 day moving average price is $31.61.

Hedge Funds Weigh In On Capital Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBNK. Advisory Services Network LLC acquired a new stake in Capital Bancorp during the 3rd quarter worth about $29,000. Aquatic Capital Management LLC acquired a new position in shares of Capital Bancorp in the third quarter valued at about $61,000. Franklin Resources Inc. acquired a new position in shares of Capital Bancorp in the second quarter valued at about $201,000. HRT Financial LP purchased a new position in shares of Capital Bancorp in the fourth quarter worth about $205,000. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of Capital Bancorp in the fourth quarter worth about $209,000. Hedge funds and other institutional investors own 56.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CBNK shares. Keefe, Bruyette & Woods increased their target price on shares of Capital Bancorp from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Capital Bancorp in a research report on Tuesday, June 30th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Capital Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

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. 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.