Capital Bancorp (NASDAQ:CBNK) Releases Earnings Results, Beats Estimates By $0.08 EPS

Capital Bancorp (NASDAQ:CBNK) posted its earnings results on Monday. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08, FiscalAI reports. Capital Bancorp had a net margin of 16.41% and a return on equity of 15.13%. The business had revenue of $62.74 million for the quarter.

Capital Bancorp Trading Up 0.1%

Shares of CBNK stock traded up $0.04 on Monday, hitting $29.40. 23,944 shares of the company’s stock traded hands, compared to its average volume of 40,060. The stock has a market capitalization of $485.72 million, a price-to-earnings ratio of 10.00 and a beta of 0.65. The company’s fifty day simple moving average is $28.66 and its 200 day simple moving average is $30.66. Capital Bancorp has a one year low of $24.69 and a one year high of $36.40. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.03.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Capital Bancorp in a research report on Monday, December 29th. Hovde Group dropped their price target on Capital Bancorp from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Zacks Research upgraded shares of Capital Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Keefe, Bruyette & Woods dropped their target price on shares of Capital Bancorp from $33.00 to $31.00 and set a “market perform” rating for the company in a research report on Monday, November 10th. Finally, Stephens decreased their price target on shares of Capital Bancorp from $40.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $34.33.

Insider Transactions at Capital Bancorp

In other news, CFO Dominic C. Canuso sold 3,400 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $27.95, for a total transaction of $95,030.00. Following the transaction, the chief financial officer directly owned 1,434 shares of the company’s stock, valued at approximately $40,080.30. This trade represents a 70.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 31.59% of the stock is currently owned by insiders.

Institutional Trading of Capital Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. boosted its position in Capital Bancorp by 1.2% during the 2nd quarter. Alliancebernstein L.P. now owns 622,483 shares of the financial services provider’s stock valued at $20,903,000 after acquiring an additional 7,510 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Capital Bancorp by 3.7% in the third quarter. Dimensional Fund Advisors LP now owns 320,153 shares of the financial services provider’s stock worth $10,213,000 after purchasing an additional 11,546 shares in the last quarter. Kennedy Capital Management LLC lifted its position in Capital Bancorp by 28.6% during the third quarter. Kennedy Capital Management LLC now owns 261,712 shares of the financial services provider’s stock valued at $8,349,000 after buying an additional 58,232 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of Capital Bancorp by 1.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 159,727 shares of the financial services provider’s stock valued at $5,364,000 after buying an additional 2,376 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Capital Bancorp by 129.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 152,410 shares of the financial services provider’s stock worth $5,118,000 after acquiring an additional 86,062 shares in the last quarter. 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. The company offers a range of deposit products, including checking and savings, time, interest bearing and noninterest-bearing demand, and money market accounts, as well as certificates of deposit; and credit cards.