Capital Bancorp (NASDAQ:CBNK) Price Target Cut to $26.00

Capital Bancorp (NASDAQ:CBNK) had its target price cut by stock analysts at Hovde Group from $27.00 to $26.00 in a research report issued to clients and investors on Tuesday, Briefing.com reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s target price would suggest a potential upside of 30.46% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Stephens raised Capital Bancorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $25.00 to $28.00 in a research report on Monday, April 1st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $25.00 target price on shares of Capital Bancorp in a research report on Monday, April 1st.

Capital Bancorp Stock Up 1.1 %

Shares of NASDAQ:CBNK opened at $19.93 on Tuesday. The stock has a market cap of $276.83 million, a price-to-earnings ratio of 7.82 and a beta of 0.42. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.19. Capital Bancorp has a 12-month low of $15.36 and a 12-month high of $25.00. The business’s 50 day moving average is $20.31 and its 200 day moving average is $21.25.

Capital Bancorp (NASDAQ:CBNK) last announced its earnings results on Monday, January 22nd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $52.91 million for the quarter, compared to analysts’ expectations of $42.48 million. Capital Bancorp had a return on equity of 14.79% and a net margin of 17.23%. On average, sell-side analysts forecast that Capital Bancorp will post 2.47 earnings per share for the current fiscal year.

Institutional Trading of Capital Bancorp

A number of hedge funds have recently bought and sold shares of CBNK. AJOVista LLC bought a new stake in Capital Bancorp during the fourth quarter worth $33,000. New York State Common Retirement Fund lifted its holdings in Capital Bancorp by 28.6% during the fourth quarter. New York State Common Retirement Fund now owns 3,185 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 708 shares during the period. SG Americas Securities LLC bought a new stake in Capital Bancorp during the fourth quarter worth $125,000. Comerica Bank lifted its holdings in Capital Bancorp by 41.3% during the fourth quarter. Comerica Bank now owns 49,356 shares of the financial services provider’s stock worth $1,194,000 after acquiring an additional 14,427 shares during the period. Finally, Ballast Asset Management LP bought a new stake in Capital Bancorp during the third quarter worth $2,397,000. 56.14% of the stock is currently owned by institutional investors.

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.