Capital Bancorp (NASDAQ:CBNK) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Capital Bancorp, Inc. (NASDAQ:CBNK) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $29.58 and traded as high as $30.34. Capital Bancorp shares last traded at $30.16, with a volume of 48,707 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Capital Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 4th. Zacks Research raised shares of Capital Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Capital Bancorp from $31.00 to $32.00 and gave the stock a “market perform” rating in a research report on Monday, February 2nd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.67.

Capital Bancorp Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.02. The stock has a market capitalization of $493.72 million, a price-to-earnings ratio of 8.87 and a beta of 0.59. The stock has a 50 day moving average price of $30.22 and a 200-day moving average price of $29.58.

Capital Bancorp (NASDAQ:CBNK) last posted its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.83 by $0.08. The firm had revenue of $62.74 million during the quarter, compared to the consensus estimate of $60.62 million. Capital Bancorp had a return on equity of 14.56% and a net margin of 18.44%. On average, analysts forecast that Capital Bancorp, Inc. will post 3.17 earnings per share for the current year.

Capital Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Monday, February 9th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, February 9th. Capital Bancorp’s dividend payout ratio is 14.12%.

Hedge Funds Weigh In On Capital Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Alliancebernstein L.P. grew its stake in 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 acquiring an additional 7,510 shares in the last quarter. Geode Capital Management LLC lifted its stake in Capital Bancorp by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 340,712 shares of the financial services provider’s stock worth $9,600,000 after purchasing an additional 5,016 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Capital Bancorp by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 338,202 shares of the financial services provider’s stock worth $9,527,000 after purchasing an additional 18,049 shares in the last quarter. Kennedy Capital Management LLC boosted 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 worth $7,394,000 after purchasing an additional 750 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Capital Bancorp by 12.8% during the 2nd quarter. American Century Companies Inc. now owns 168,797 shares of the financial services provider’s stock worth $5,668,000 after purchasing an additional 19,135 shares during the last quarter. 56.14% of the stock is owned by hedge funds and other institutional investors.

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.