Hovde Group Raises Capital Bancorp (NASDAQ:CBNK) Price Target to $28.00

Capital Bancorp (NASDAQ:CBNK) had its target price boosted by Hovde Group from $26.00 to $28.00 in a report released on Wednesday morning, MarketBeat Ratings reports. Hovde Group currently has an outperform rating on the financial services provider’s stock.

CBNK has been the topic of a number of other reports. Stephens raised Capital Bancorp from an equal weight rating to an overweight rating and lifted their price target for the stock from $25.00 to $28.00 in a research note on Monday, April 1st. Keefe, Bruyette & Woods upped their price target on shares of Capital Bancorp from $25.00 to $27.00 and gave the company a market perform rating in a report on Tuesday.

Capital Bancorp Stock Down 0.2 %

Shares of NASDAQ CBNK opened at $25.88 on Wednesday. The stock has a market capitalization of $359.47 million, a P/E ratio of 11.06 and a beta of 0.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02. Capital Bancorp has a one year low of $18.56 and a one year high of $26.20. The firm’s 50 day simple moving average is $20.86 and its two-hundred day simple moving average is $20.83.

Capital Bancorp (NASDAQ:CBNK) last issued its earnings results on Monday, July 22nd. The financial services provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Capital Bancorp had a return on equity of 13.54% and a net margin of 15.35%. The business had revenue of $57.51 million during the quarter, compared to analysts’ expectations of $42.70 million. As a group, analysts expect that Capital Bancorp will post 2.2 EPS for the current fiscal year.

Capital Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Monday, August 5th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.55%. This is a boost from Capital Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date is Monday, August 5th. Capital Bancorp’s dividend payout ratio is presently 13.68%.

Institutional Trading of Capital Bancorp

A number of hedge funds have recently modified their holdings of CBNK. Vanguard Group Inc. grew its stake in shares of Capital Bancorp by 0.9% in the first quarter. Vanguard Group Inc. now owns 437,034 shares of the financial services provider’s stock worth $9,103,000 after acquiring an additional 4,019 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in Capital Bancorp by 35.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 111,328 shares of the financial services provider’s stock valued at $2,694,000 after purchasing an additional 29,147 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Capital Bancorp by 3.5% in the first quarter. Russell Investments Group Ltd. now owns 101,302 shares of the financial services provider’s stock worth $2,110,000 after buying an additional 3,454 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Capital Bancorp by 8.1% in the first quarter. Empowered Funds LLC now owns 82,066 shares of the financial services provider’s stock worth $1,709,000 after buying an additional 6,125 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Capital Bancorp by 6.0% during the second quarter. Bank of New York Mellon Corp now owns 59,111 shares of the financial services provider’s stock valued at $1,212,000 after buying an additional 3,331 shares during the last quarter. Institutional investors own 56.14% of the company’s stock.

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.