Capital Bancorp (NASDAQ:CBNK) Price Target Cut to $26.00

Capital Bancorp (NASDAQ:CBNK) had its price target lowered by stock analysts at Hovde Group from $27.00 to $26.00 in a research note issued to investors on Tuesday, Briefing.com reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s target price would indicate a potential upside of 30.46% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $25.00 price target on shares of Capital Bancorp in a report on Monday, April 1st. Stephens raised Capital Bancorp from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $25.00 to $28.00 in a report on Monday, April 1st.

Capital Bancorp Price Performance

NASDAQ CBNK opened at $19.93 on Tuesday. The stock has a market capitalization of $276.83 million, a P/E ratio of 7.82 and a beta of 0.42. Capital Bancorp has a 1 year low of $15.36 and a 1 year high of $25.00. The business’s fifty day moving average is $20.31 and its two-hundred day moving average is $21.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.02 and a current ratio of 1.02.

Capital Bancorp (NASDAQ:CBNK) last posted its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $52.91 million for the quarter, compared to analysts’ expectations of $42.48 million. Capital Bancorp had a return on equity of 14.79% and a net margin of 17.23%. On average, research analysts forecast that Capital Bancorp will post 2.47 earnings per share for the current fiscal year.

Institutional Trading of Capital Bancorp

Several large investors have recently added to or reduced their stakes in CBNK. AJOVista LLC acquired a new stake in Capital Bancorp during the 4th quarter valued at $33,000. New York State Common Retirement Fund raised its stake in Capital Bancorp by 28.6% during the 4th quarter. New York State Common Retirement Fund now owns 3,185 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 708 shares during the period. SG Americas Securities LLC acquired a new stake in Capital Bancorp during the 4th quarter valued at $125,000. Comerica Bank increased its stake in shares of Capital Bancorp by 41.3% in the fourth quarter. Comerica Bank now owns 49,356 shares of the financial services provider’s stock worth $1,194,000 after acquiring an additional 14,427 shares during the last quarter. Finally, Ballast Asset Management LP acquired a new position in shares of Capital Bancorp in the third quarter worth $2,397,000. 56.14% of the stock is owned by institutional investors and hedge funds.

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.