Capital Bancorp (NASDAQ:CBNK) Announces Earnings Results

Capital Bancorp (NASDAQ:CBNK) announced its quarterly earnings data on Monday. The financial services provider reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03), FiscalAI reports. The firm had revenue of $68.12 million during the quarter, compared to the consensus estimate of $69.01 million. Capital Bancorp had a net margin of 17.47% and a return on equity of 13.14%.

Capital Bancorp Trading Up 1.0%

NASDAQ:CBNK traded up $0.40 during mid-day trading on Monday, hitting $41.69. The company had a trading volume of 146,285 shares, compared to its average volume of 76,132. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.03 and a current ratio of 1.03. Capital Bancorp has a fifty-two week low of $26.40 and a fifty-two week high of $41.89. The firm has a market cap of $679.13 million, a P/E ratio of 12.26 and a beta of 0.52. The business’s fifty day moving average is $37.54 and its two-hundred day moving average is $35.05.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CBNK shares. Hovde Group lowered Capital Bancorp from a “strong-buy” rating to a “hold” rating and set a $42.00 price target on the stock. in a research note on Thursday, October 1st. Brean Capital lowered Capital Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 30th. Keefe, Bruyette & Woods boosted their price objective on Capital Bancorp from $35.00 to $40.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Stephens cut Capital Bancorp from an “overweight” rating to an “equal weight” rating in a report on Friday, October 16th. Finally, Raymond James Financial initiated coverage on shares of Capital Bancorp in a research report on Thursday, September 3rd. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $39.67.

About Capital Bancorp

Capital Bancorp, Inc is a bank holding company headquartered in Rockville, Maryland. Through its principal subsidiary, Capital Bank, N.A., the company provides commercial banking products and services to businesses, professionals and individuals.

Capital Bank offers business and commercial real estate lending, construction and development financing, residential mortgage lending, small-business lending, consumer loans and deposit accounts. Its services also include cash management, online and mobile banking, treasury management and other financial solutions designed for commercial and retail customers.

Founded in 1999, Capital Bancorp primarily serves communities in the Washington, DC, metropolitan area, including Maryland and Northern Virginia.