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

Capital Bancorp, Inc. (NASDAQ:CBNK)’s stock price reached a new 52-week high during mid-day trading on Monday. The company traded as high as $42.53 and last traded at $42.6440, with a volume of 1,738 shares trading hands. The stock had previously closed at $41.72.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Keefe, Bruyette & Woods raised their target price on Capital Bancorp from $35.00 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Raymond James Financial started coverage on Capital Bancorp in a report on Thursday, September 3rd. They set a “market perform” rating for the company. Stephens cut Capital Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 16th. Weiss Ratings raised shares of Capital Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, October 14th. Finally, Brean Capital lowered shares of Capital Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 30th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $41.00.

Capital Bancorp Price Performance

The stock has a market capitalization of $694.44 million, a PE ratio of 12.68 and a beta of 0.50. The business’s 50-day moving average price is $38.26 and its 200 day moving average price is $33.96. 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 (NASDAQ:CBNK) last issued its quarterly earnings data on Monday, October 26th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). The business had revenue of $68.12 million during the quarter, compared to analysts’ expectations of $69.01 million. Capital Bancorp had a return on equity of 13.63% and a net margin of 16.29%. Research analysts forecast that Capital Bancorp, Inc. will post 3.47 earnings per share for the current year.

Capital Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 9th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, November 9th. Capital Bancorp’s dividend payout ratio (DPR) is 16.92%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc purchased a new stake in Capital Bancorp in the second quarter valued at approximately $37,000. Cassilly Financial Group LLC bought a new stake in Capital Bancorp during the third quarter valued at approximately $206,000. GSA Capital Partners LLP purchased a new position in Capital Bancorp in the 2nd quarter worth approximately $297,000. Susquehanna Fundamental Investments LLC purchased a new position in Capital Bancorp in the 2nd quarter worth approximately $310,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Capital Bancorp in the 2nd quarter worth approximately $324,000. Hedge funds and other institutional investors own 56.14% of the company’s stock.

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.