Capital Bancorp (NASDAQ:CBNK) Rating Increased to Hold at Zacks Research

Capital Bancorp (NASDAQ:CBNK) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on CBNK. Hovde Group lowered their target price on shares of Capital Bancorp from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Keefe, Bruyette & Woods reduced their price objective on shares of Capital Bancorp from $33.00 to $31.00 and set a “market perform” rating on the stock in a research report on Monday, November 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Capital Bancorp in a research report on Monday. Finally, Stephens cut their target price on Capital Bancorp from $40.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Two investment 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, the stock has a consensus rating of “Hold” and an average price target of $34.33.

Capital Bancorp Price Performance

Shares of Capital Bancorp stock opened at $28.34 on Monday. The stock has a market cap of $468.18 million, a price-to-earnings ratio of 9.64 and a beta of 0.68. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.03. The stock has a 50 day moving average price of $28.38 and a 200-day moving average price of $31.21. Capital Bancorp has a one year low of $24.69 and a one year high of $36.40.

Capital Bancorp (NASDAQ:CBNK) last released its quarterly earnings results on Tuesday, November 12th. The financial services provider reported $0.70 earnings per share for the quarter. The company had revenue of $21.01 million for the quarter. Capital Bancorp had a return on equity of 15.13% and a net margin of 16.41%. Equities analysts expect that Capital Bancorp will post 3.17 EPS for the current year.

Insider Activity

In related news, CFO Dominic C. Canuso sold 3,400 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $27.95, for a total value of $95,030.00. Following the transaction, the chief financial officer owned 1,434 shares of the company’s stock, valued at $40,080.30. This represents a 70.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 32.50% of the company’s stock.

Institutional Investors Weigh In On Capital Bancorp

Hedge funds have recently made changes to their positions in the company. Nuveen LLC bought a new position in shares of Capital Bancorp during the 1st quarter worth $666,000. AQR Capital Management LLC lifted its stake in Capital Bancorp by 48.4% in the first quarter. AQR Capital Management LLC now owns 13,299 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 4,336 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Capital Bancorp during the 2nd quarter worth about $209,000. First Citizens Bank & Trust Co. bought a new position in Capital Bancorp during the 2nd quarter worth about $1,376,000. Finally, Simplex Trading LLC purchased a new stake in shares of Capital Bancorp in the 2nd quarter worth approximately $283,000. 56.14% of the stock is currently owned by hedge funds and other institutional investors.

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.