Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Capital Bancorp (NASDAQ:CBNK) Stock

Capital Bancorp (NASDAQ:CBNK) had its price target hoisted by equities researchers at Keefe, Bruyette & Woods from $31.00 to $32.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 0.28% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. Zacks Research raised shares of Capital Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Stephens dropped their target price on Capital Bancorp from $40.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Hovde Group cut their price target 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. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Capital Bancorp in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $34.67.

Capital Bancorp Stock Performance

Shares of NASDAQ:CBNK opened at $31.91 on Monday. The business’s 50-day simple moving average is $29.15 and its 200 day simple moving average is $30.44. The company has a market cap of $527.15 million, a P/E ratio of 9.39 and a beta of 0.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.03. Capital Bancorp has a one year low of $24.69 and a one year high of $36.40.

Capital Bancorp (NASDAQ:CBNK) last issued its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.08. Capital Bancorp had a net margin of 18.44% and a return on equity of 14.76%. The company had revenue of $62.74 million during the quarter, compared to the consensus estimate of $60.62 million. On average, sell-side analysts forecast that Capital Bancorp will post 3.17 earnings per share for the current fiscal year.

Insider Activity at Capital Bancorp

In other news, CFO Dominic C. Canuso sold 3,400 shares of Capital Bancorp stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $27.95, for a total value of $95,030.00. Following the completion of the transaction, the chief financial officer owned 1,434 shares in the company, valued at approximately $40,080.30. This trade represents a 70.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 32.50% of the company’s stock.

Hedge Funds Weigh In On Capital Bancorp

Hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in Capital Bancorp by 48.4% during the first quarter. AQR Capital Management LLC now owns 13,299 shares of the financial services provider’s stock valued at $377,000 after purchasing an additional 4,336 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Capital Bancorp in the 2nd quarter valued at about $209,000. First Citizens Bank & Trust Co. bought a new stake in shares of Capital Bancorp during the 2nd quarter valued at about $1,376,000. Simplex Trading LLC acquired a new stake in Capital Bancorp during the second quarter worth about $283,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Capital Bancorp by 107.9% during 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 acquiring an additional 23,379 shares during the period. Institutional investors and hedge funds own 56.14% of the company’s stock.

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.