Capital Bancorp (NASDAQ:CBNK) Releases Earnings Results, Beats Expectations By $0.05 EPS

Capital Bancorp (NASDAQ:CBNK) issued its earnings results on Monday. The financial services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05, FiscalAI reports. Capital Bancorp had a return on equity of 13.48% and a net margin of 17.48%.The firm had revenue of $65.29 million for the quarter, compared to analyst estimates of $66.54 million.

Capital Bancorp Price Performance

CBNK traded up $0.18 during trading on Monday, reaching $36.31. The company’s stock had a trading volume of 67,309 shares, compared to its average volume of 63,229. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $33.80 and a two-hundred day simple moving average of $31.61. Capital Bancorp has a 1 year low of $26.40 and a 1 year high of $37.00. The company has a market cap of $591.49 million, a price-to-earnings ratio of 10.97 and a beta of 0.54.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Capital Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CBNK. Empowered Funds LLC boosted its position in shares of Capital Bancorp by 10.8% during the 4th quarter. Empowered Funds LLC now owns 91,574 shares of the financial services provider’s stock valued at $2,580,000 after acquiring an additional 8,959 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Capital Bancorp during the 4th quarter worth approximately $223,000. Occudo Quantitative Strategies LP purchased a new stake in shares of Capital Bancorp during the 4th quarter valued at approximately $209,000. Bridgeway Capital Management LLC lifted its holdings in Capital Bancorp by 5.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 165,524 shares of the financial services provider’s stock valued at $4,663,000 after acquiring an additional 8,959 shares during the last quarter. Finally, Jump Financial LLC grew its position in Capital Bancorp by 20.5% in the fourth quarter. Jump Financial LLC now owns 10,000 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 1,700 shares during the period. Institutional investors and hedge funds own 56.14% of the company’s stock.

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.