Capital Bancorp (NASDAQ:CBNK) Price Target Lowered to $34.00 at Hovde Group

Capital Bancorp (NASDAQ:CBNK) had its target price decreased by Hovde Group from $36.00 to $34.00 in a research report sent to investors on Monday morning, Marketbeat reports. Hovde Group currently has an outperform rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods upped their price objective on Capital Bancorp from $32.00 to $35.00 and gave the company a “market perform” rating in a research note on Friday, February 7th.

Capital Bancorp Price Performance

Shares of NASDAQ:CBNK opened at $28.88 on Monday. The company has a market capitalization of $478.20 million, a P/E ratio of 13.56 and a beta of 0.54. The company’s 50-day moving average is $29.90 and its 200 day moving average is $27.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.02 and a current ratio of 1.03. Capital Bancorp has a fifty-two week low of $19.02 and a fifty-two week high of $32.88.

Capital Bancorp (NASDAQ:CBNK) last released its earnings results on Monday, January 27th. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.26. Capital Bancorp had a net margin of 12.66% and a return on equity of 14.89%. During the same period in the previous year, the business earned $0.65 EPS. On average, equities research analysts forecast that Capital Bancorp will post 3.17 earnings per share for the current year.

Capital Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.39%. The ex-dividend date was Monday, February 10th. Capital Bancorp’s dividend payout ratio (DPR) is presently 18.78%.

Insiders Place Their Bets

In other Capital Bancorp news, Director Randall James Levitt sold 14,500 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $32.30, for a total transaction of $468,350.00. Following the sale, the director now owns 100,000 shares in the company, valued at $3,230,000. This represents a 12.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 32.50% of the company’s stock.

Hedge Funds Weigh In On Capital Bancorp

Several hedge funds have recently made changes to their positions in the stock. Picton Mahoney Asset Management lifted its holdings in Capital Bancorp by 123.0% during the 4th quarter. Picton Mahoney Asset Management now owns 1,135 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 626 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Capital Bancorp by 194.7% during the fourth quarter. Federated Hermes Inc. now owns 3,528 shares of the financial services provider’s stock valued at $101,000 after buying an additional 2,331 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Capital Bancorp in the fourth quarter worth about $109,000. Wells Fargo & Company MN boosted its position in shares of Capital Bancorp by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 5,400 shares of the financial services provider’s stock valued at $154,000 after acquiring an additional 1,177 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Capital Bancorp by 317.1% in the third quarter. BNP Paribas Financial Markets now owns 7,809 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 5,937 shares during the period. 56.14% of the stock is currently owned by hedge funds and other 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.