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

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

Capital Bancorp Price Performance

Shares of Capital Bancorp stock traded up $0.04 during trading hours on Monday, hitting $29.40. The company’s stock had a trading volume of 23,944 shares, compared to its average volume of 40,060. 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 12-month low of $24.69 and a 12-month high of $36.40. The business has a 50 day moving average price of $28.66 and a two-hundred day moving average price of $30.66. The company has a market cap of $485.72 million, a PE ratio of 10.00 and a beta of 0.65.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CFO Dominic C. Canuso sold 3,400 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $27.95, for a total transaction of $95,030.00. Following the completion of the transaction, the chief financial officer owned 1,434 shares in the company, valued at approximately $40,080.30. This represents a 70.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 31.59% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Capital Bancorp

Several institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. increased its position in Capital Bancorp by 1.2% during the second quarter. Alliancebernstein L.P. now owns 622,483 shares of the financial services provider’s stock valued at $20,903,000 after acquiring an additional 7,510 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Capital Bancorp by 3.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 320,153 shares of the financial services provider’s stock worth $10,213,000 after purchasing an additional 11,546 shares during the period. Kennedy Capital Management LLC grew its holdings in Capital Bancorp by 28.6% during the 3rd quarter. Kennedy Capital Management LLC now owns 261,712 shares of the financial services provider’s stock valued at $8,349,000 after purchasing an additional 58,232 shares during the last quarter. Bridgeway Capital Management LLC raised its position in Capital Bancorp by 1.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 159,727 shares of the financial services provider’s stock worth $5,364,000 after purchasing an additional 2,376 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Capital Bancorp by 129.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 152,410 shares of the financial services provider’s stock worth $5,118,000 after purchasing an additional 86,062 shares during the last quarter. 56.14% of the stock is owned by institutional investors.

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.