Capital Bancorp (NASDAQ:CBNK) Given New $34.00 Price Target at Hovde Group

Capital Bancorp (NASDAQ:CBNK) had its price target reduced by Hovde Group from $36.00 to $34.00 in a research note released on Monday, Marketbeat Ratings reports. They currently have an outperform rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods boosted their price objective on shares of Capital Bancorp from $32.00 to $35.00 and gave the stock a “market perform” rating in a research report on Friday, February 7th.

Capital Bancorp Stock Up 0.7 %

Shares of Capital Bancorp stock opened at $28.46 on Monday. The company has a market capitalization of $471.24 million, a P/E ratio of 13.36 and a beta of 0.54. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. Capital Bancorp has a 52-week low of $19.02 and a 52-week high of $32.88. The company has a 50 day moving average of $29.85 and a 200 day moving average of $27.95.

Capital Bancorp (NASDAQ:CBNK) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.26. Capital Bancorp had a net margin of 12.66% and a return on equity of 14.89%. During the same quarter in the prior year, the firm posted $0.65 earnings per share. As a group, research analysts forecast that Capital Bancorp will post 3.17 EPS for the current fiscal year.

Capital Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were given a $0.10 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.40 annualized dividend and a yield of 1.41%. Capital Bancorp’s dividend payout ratio (DPR) is 18.78%.

Insider Activity at Capital Bancorp

In related news, Director Randall James Levitt sold 14,500 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $32.30, for a total value of $468,350.00. Following the completion of the sale, the director now owns 100,000 shares in the company, valued at $3,230,000. This represents a 12.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 32.50% of the stock is owned by insiders.

Institutional Trading of Capital Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of CBNK. Picton Mahoney Asset Management increased its stake in Capital Bancorp by 123.0% in the 4th quarter. Picton Mahoney Asset Management now owns 1,135 shares of the financial services provider’s stock valued at $32,000 after buying an additional 626 shares during the period. Federated Hermes Inc. increased its stake in Capital Bancorp by 194.7% in the 4th quarter. Federated Hermes Inc. now owns 3,528 shares of the financial services provider’s stock valued at $101,000 after buying an additional 2,331 shares during the period. SG Americas Securities LLC acquired a new position in Capital Bancorp in the 4th quarter valued at $109,000. Wells Fargo & Company MN increased its stake in Capital Bancorp by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 5,400 shares of the financial services provider’s stock valued at $154,000 after buying an additional 1,177 shares during the period. Finally, Praetorian Wealth Management Inc. acquired a new position in Capital Bancorp in the 4th quarter valued at $205,000. Hedge funds and other institutional investors own 56.14% of the company’s stock.

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.