Capital Bancorp (NASDAQ:CBNK) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Capital Bancorp, Inc. (NASDAQ:CBNK)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $29.94 and traded as high as $32.13. Capital Bancorp shares last traded at $31.63, with a volume of 62,160 shares trading hands.

Wall Street Analyst Weigh In

CBNK has been the topic of a number of analyst reports. 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 research note on Wednesday, April 29th. Weiss Ratings upgraded Capital Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 4th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Capital Bancorp Stock Performance

The firm has a fifty day simple moving average of $30.97 and a 200-day simple moving average of $29.94. The company has a market cap of $515.25 million, a PE ratio of 9.56 and a beta of 0.55. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.13.

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

Capital Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 11th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.48 annualized dividend and a dividend yield of 1.5%. Capital Bancorp’s dividend payout ratio (DPR) is presently 14.50%.

Hedge Funds Weigh In On Capital Bancorp

Several hedge funds have recently made changes to their positions in CBNK. Advisory Services Network LLC purchased a new position in shares of Capital Bancorp during the third quarter worth about $29,000. State of Alaska Department of Revenue grew its holdings in shares of Capital Bancorp by 135.1% during the fourth quarter. State of Alaska Department of Revenue now owns 1,580 shares of the financial services provider’s stock worth $43,000 after buying an additional 908 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Capital Bancorp during the third quarter worth about $61,000. Daytona Street Capital LLC purchased a new position in shares of Capital Bancorp during the fourth quarter worth about $72,000. Finally, Federated Hermes Inc. grew its holdings in shares of Capital Bancorp by 33.1% during the third quarter. Federated Hermes Inc. now owns 5,518 shares of the financial services provider’s stock worth $176,000 after buying an additional 1,373 shares during the last quarter. Hedge funds and other institutional investors own 56.14% of the company’s stock.

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.