Capital Bancorp (NASDAQ:CBNK) Price Target Raised to $32.00

Capital Bancorp (NASDAQ:CBNK) had its price objective hoisted by equities researchers at Keefe, Bruyette & Woods from $28.00 to $32.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 7.42% from the stock’s current price.

Capital Bancorp Stock Performance

Shares of CBNK opened at $29.79 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. The stock has a market cap of $493.32 million, a P/E ratio of 12.79 and a beta of 0.50. The business’s 50 day moving average price is $26.60 and its 200-day moving average price is $24.09. Capital Bancorp has a 52 week low of $19.02 and a 52 week high of $30.34.

Capital Bancorp (NASDAQ:CBNK) last released its earnings results on Monday, October 28th. The financial services provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.02). Capital Bancorp had a return on equity of 12.66% and a net margin of 14.49%. The company had revenue of $59.25 million during the quarter. Equities research analysts anticipate that Capital Bancorp will post 2.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Capital Bancorp news, CFO Dominic C. Canuso acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average cost of $25.52 per share, with a total value of $25,520.00. Following the completion of the transaction, the chief financial officer now directly owns 2,000 shares of the company’s stock, valued at approximately $51,040. This represents a 100.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Steven M. Poynot acquired 2,000 shares of Capital Bancorp stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average price of $25.36 per share, with a total value of $50,720.00. Following the completion of the acquisition, the chief operating officer now directly owns 4,503 shares in the company, valued at $114,196.08. This represents a 79.90 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 32.50% of the company’s stock.

Institutional Trading of Capital Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Capital Bancorp by 0.9% during the first quarter. Vanguard Group Inc. now owns 437,034 shares of the financial services provider’s stock valued at $9,103,000 after purchasing an additional 4,019 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Capital Bancorp by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 227,234 shares of the financial services provider’s stock worth $4,658,000 after purchasing an additional 9,461 shares during the period. Pacific Ridge Capital Partners LLC grew its position in Capital Bancorp by 14.3% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 208,364 shares of the financial services provider’s stock worth $4,271,000 after purchasing an additional 26,091 shares during the period. State Street Corp raised its stake in Capital Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 175,639 shares of the financial services provider’s stock valued at $4,516,000 after buying an additional 1,526 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Capital Bancorp by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 89,110 shares of the financial services provider’s stock valued at $2,291,000 after buying an additional 4,422 shares during the period. 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.