Capital Bancorp (NASDAQ:CBNK) Announces Earnings Results

Capital Bancorp (NASDAQ:CBNK) released its quarterly earnings data on Sunday. The financial services provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.21, Fidelity Earnings reports. Capital Bancorp had a return on equity of 22.52% and a net margin of 20.72%.

Shares of NASDAQ CBNK traded up $1.21 during mid-day trading on Tuesday, reaching $25.99. The company’s stock had a trading volume of 59,839 shares, compared to its average volume of 40,405. The firm has a market capitalization of $358.25 million, a PE ratio of 9.81 and a beta of 0.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.01 and a quick ratio of 0.98. The stock has a fifty day moving average of $23.54 and a two-hundred day moving average of $22.10. Capital Bancorp has a 52 week low of $9.75 and a 52 week high of $26.74.

Separately, Zacks Investment Research raised Capital Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Monday, July 26th.

In other news, Director Stephen N. Ashman sold 9,052 shares of the company’s stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $23.75, for a total value of $214,985.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 41.79% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Morgan Stanley boosted its stake in Capital Bancorp by 9.3% during the second quarter. Morgan Stanley now owns 24,968 shares of the financial services provider’s stock valued at $510,000 after buying an additional 2,129 shares during the last quarter. Millennium Management LLC bought a new position in Capital Bancorp during the second quarter valued at approximately $271,000. Finally, Citadel Advisors LLC bought a new position in Capital Bancorp during the second quarter valued at approximately $311,000. 30.38% of the stock is owned by institutional investors.

About Capital Bancorp

Capital Bancorp, Inc is a holding company, which engages in the provision of commercial and consumer banking services through its subsidiary Capital Bank, NA. It operates through the following segments: Commercial Banking, Capital Bank Home Loans, OpenSky, and Corporate. The Commercial Banking segment provides personalized service to commercial clients throughout the Washington, DC and Baltimore metropolitan areas.

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Earnings History for Capital Bancorp (NASDAQ:CBNK)

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