Capital Bancorp, Inc. (NASDAQ:CBNK) Given Consensus Rating of “Hold” by Brokerages

Capital Bancorp, Inc. (NASDAQ:CBNK) has received an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $34.3333.

CBNK has been the subject of a number of recent research reports. Stephens dropped their price objective on shares of Capital Bancorp from $40.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Zacks Research raised shares of Capital Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Hovde Group reduced their price objective on Capital Bancorp from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Capital Bancorp in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods dropped their target price on Capital Bancorp from $33.00 to $31.00 and set a “market perform” rating for the company in a report on Monday, November 10th.

Insider Buying and Selling at Capital Bancorp

In other news, CFO Dominic C. Canuso sold 3,400 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $27.95, for a total value of $95,030.00. Following the sale, the chief financial officer owned 1,434 shares of the company’s stock, valued at approximately $40,080.30. This represents a 70.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 31.59% of the company’s stock.

Hedge Funds Weigh In On Capital Bancorp

Several hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in Capital Bancorp by 48.4% in the first quarter. AQR Capital Management LLC now owns 13,299 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 4,336 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Capital Bancorp in the second quarter worth approximately $209,000. First Citizens Bank & Trust Co. bought a new stake in shares of Capital Bancorp during the 2nd quarter worth approximately $1,376,000. Simplex Trading LLC purchased a new position in Capital Bancorp during the 2nd quarter valued at $283,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Capital Bancorp by 107.9% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 45,043 shares of the financial services provider’s stock worth $1,513,000 after purchasing an additional 23,379 shares during the last quarter. 56.14% of the stock is currently owned by institutional investors.

Capital Bancorp Price Performance

Shares of Capital Bancorp stock opened at $29.54 on Friday. The firm has a market cap of $488.00 million, a PE ratio of 10.05 and a beta of 0.65. The stock has a 50 day moving average of $28.47 and a 200 day moving average of $30.89. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09. Capital Bancorp has a 12 month low of $24.69 and a 12 month high of $36.40.

Capital Bancorp (NASDAQ:CBNK) last issued its quarterly earnings data on Monday, October 27th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.16). Capital Bancorp had a return on equity of 15.13% and a net margin of 16.41%.The firm had revenue of $58.47 million for the quarter, compared to analysts’ expectations of $62.98 million. On average, research analysts expect that Capital Bancorp will post 3.17 EPS for the current fiscal year.

Capital Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 10th were given a dividend of $0.12 per share. The ex-dividend date was Monday, November 10th. This represents a $0.48 dividend on an annualized basis and a yield of 1.6%. Capital Bancorp’s payout ratio is 16.33%.

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.