Capital Bancorp (NASDAQ:CBNK) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Capital Bancorp (NASDAQ:CBNK) issued its earnings results on Monday. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08, FiscalAI reports. The business had revenue of $62.74 million for the quarter, compared to the consensus estimate of $60.62 million. Capital Bancorp had a net margin of 16.41% and a return on equity of 15.13%.

Capital Bancorp Stock Performance

Shares of Capital Bancorp stock opened at $29.40 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.03. Capital Bancorp has a 1 year low of $24.69 and a 1 year high of $36.40. The firm’s 50-day simple moving average is $28.71 and its 200-day simple moving average is $30.62. The firm has a market cap of $485.69 million, a PE ratio of 10.00 and a beta of 0.65.

Wall Street Analyst Weigh In

Several research analysts have commented on CBNK shares. Zacks Research raised Capital Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Capital Bancorp in a research note on Monday, December 29th. Stephens dropped their target price on Capital Bancorp from $40.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Hovde Group decreased their price target on Capital Bancorp from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Finally, Keefe, Bruyette & Woods lowered their price objective 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. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Capital Bancorp currently has an average rating of “Hold” and a consensus price target of $34.33.

Insiders Place Their Bets

In other Capital Bancorp news, CFO Dominic C. Canuso sold 3,400 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $27.95, for a total transaction of $95,030.00. Following the sale, the chief financial officer owned 1,434 shares in the company, valued at $40,080.30. This represents a 70.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 32.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Capital Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in CBNK. Boston Partners lifted its stake in Capital Bancorp by 1.8% during the third quarter. Boston Partners now owns 25,974 shares of the financial services provider’s stock worth $829,000 after purchasing an additional 457 shares during the last quarter. Creative Planning raised its holdings in shares of Capital Bancorp by 2.3% during the third quarter. Creative Planning now owns 21,018 shares of the financial services provider’s stock worth $670,000 after purchasing an additional 482 shares during the period. First Trust Advisors LP lifted its position in shares of Capital Bancorp by 6.4% in the 2nd quarter. First Trust Advisors LP now owns 10,571 shares of the financial services provider’s stock worth $355,000 after buying an additional 632 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Capital Bancorp by 16.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,410 shares of the financial services provider’s stock worth $215,000 after buying an additional 884 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Capital Bancorp in the 3rd quarter valued at about $29,000. 56.14% of the stock is owned by institutional investors and hedge funds.

Capital Bancorp Company Profile

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.