Capital Bancorp (NASDAQ:CBNK) Cut to “Equal Weight” at Stephens

Stephens downgraded shares of Capital Bancorp (NASDAQ:CBNK) from an overweight rating to an equal weight rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports.

CBNK has been the subject of several other reports. Keefe, Bruyette & Woods raised their price objective on shares of Capital Bancorp from $35.00 to $40.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Weiss Ratings raised shares of Capital Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday. Hovde Group cut shares of Capital Bancorp from a “strong-buy” rating to a “hold” rating and set a $42.00 target price on the stock. in a report on Thursday, October 1st. Raymond James Financial assumed coverage on Capital Bancorp in a research report on Thursday, September 3rd. They set a “market perform” rating on the stock. Finally, Brean Capital lowered Capital Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 30th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.67.

Capital Bancorp Price Performance

NASDAQ CBNK opened at $39.59 on Friday. The company has a market cap of $644.92 million, a PE ratio of 11.64 and a beta of 0.52. Capital Bancorp has a 52 week low of $26.40 and a 52 week high of $40.70. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.12. The firm’s 50-day simple moving average is $37.25 and its two-hundred day simple moving average is $34.69.

Capital Bancorp (NASDAQ:CBNK) last issued its earnings results on Monday, July 27th. The financial services provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. Capital Bancorp had a net margin of 17.47% and a return on equity of 13.14%. The firm had revenue of $65.29 million during the quarter, compared to analyst estimates of $66.54 million. Research analysts predict that Capital Bancorp will post 3.47 earnings per share for the current year.

Capital Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 10th were issued a dividend of $0.14 per share. This is a boost from Capital Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. Capital Bancorp’s payout ratio is currently 16.47%.

Institutional Trading of Capital Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC increased its stake in Capital Bancorp by 31.9% in the 2nd quarter. Squarepoint Ops LLC now owns 137,954 shares of the financial services provider’s stock worth $4,845,000 after acquiring an additional 33,402 shares during the last quarter. Militia Capital Management LLC purchased a new position in shares of Capital Bancorp during the first quarter worth approximately $1,398,000. Bank of New York Mellon Corp bought a new stake in shares of Capital Bancorp in the 2nd quarter worth approximately $1,762,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Capital Bancorp in the 2nd quarter worth approximately $2,263,000. Finally, De Lisle Partners LLP purchased a new stake in shares of Capital Bancorp in the 2nd quarter valued at $2,667,000. 56.14% of the stock is currently owned by hedge funds and other institutional investors.

About Capital Bancorp

Capital Bancorp, Inc is a bank holding company headquartered in Rockville, Maryland. Through its principal subsidiary, Capital Bank, N.A., the company provides commercial banking and financial services to businesses, nonprofit organizations, professional practices and individuals.

Capital Bank offers a range of deposit products, commercial and residential real estate lending, business loans, lines of credit, equipment financing, treasury management and other cash-management services. The company also provides mortgage banking services, including residential mortgage origination, and serves small businesses through lending and related financial solutions.

Capital Bancorp primarily serves customers in the Washington, DC, metropolitan area, including Maryland, Virginia and the District of Columbia.