Capital Bancorp (NASDAQ:CBNK) Sets New 52-Week High – Still a Buy?

Shares of Capital Bancorp, Inc. (NASDAQ:CBNK) hit a new 52-week high on Thursday . The company traded as high as $36.50 and last traded at $36.63, with a volume of 18004 shares trading hands. The stock had previously closed at $35.50.

Analyst Ratings Changes

Several equities research analysts have issued reports on CBNK shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Capital Bancorp in a research note on Tuesday, June 30th. Keefe, Bruyette & Woods increased their target price on shares of Capital Bancorp from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Capital Bancorp has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Capital Bancorp Trading Down 1.9%

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $33.27 and a two-hundred day moving average price of $31.33. The firm has a market capitalization of $583.83 million, a price-to-earnings ratio of 10.83 and a beta of 0.54.

Capital Bancorp (NASDAQ:CBNK) last posted its quarterly earnings results on Monday, April 27th. The financial services provider reported $0.73 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.05). Capital Bancorp had a net margin of 17.48% and a return on equity of 13.48%. The company had revenue of $62.77 million during the quarter, compared to analyst estimates of $62.41 million. As a group, research analysts forecast that Capital Bancorp, Inc. will post 3.4 earnings per share for the current fiscal year.

Capital Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 11th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.3%. Capital Bancorp’s dividend payout ratio (DPR) is 14.50%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CBNK. Alliancebernstein L.P. grew its holdings in shares of Capital Bancorp by 1.2% in the second quarter. Alliancebernstein L.P. now owns 622,483 shares of the financial services provider’s stock valued at $20,903,000 after purchasing an additional 7,510 shares during the period. Dimensional Fund Advisors LP raised its stake in Capital Bancorp by 5.1% during the first quarter. Dimensional Fund Advisors LP now owns 355,466 shares of the financial services provider’s stock worth $10,571,000 after purchasing an additional 17,264 shares during the period. Geode Capital Management LLC raised its stake in Capital Bancorp by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 340,712 shares of the financial services provider’s stock worth $9,600,000 after purchasing an additional 5,016 shares during the period. Kennedy Capital Management LLC boosted its holdings in Capital Bancorp by 0.3% in the 4th quarter. Kennedy Capital Management LLC now owns 262,462 shares of the financial services provider’s stock valued at $7,394,000 after purchasing an additional 750 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Capital Bancorp by 104.1% in the 1st quarter. Sei Investments Co. now owns 167,222 shares of the financial services provider’s stock valued at $4,973,000 after purchasing an additional 85,293 shares during 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.