Hovde Group Trims Capital Bancorp (NASDAQ:CBNK) Target Price to $26.00

Capital Bancorp (NASDAQ:CBNK) had its price target decreased by Hovde Group from $27.00 to $26.00 in a research report report published on Tuesday, MarketBeat reports. Hovde Group currently has an outperform rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods restated a market perform rating and issued a $25.00 target price on shares of Capital Bancorp in a research note on Monday, April 1st. Stephens upgraded Capital Bancorp from an equal weight rating to an overweight rating and raised their target price for the stock from $25.00 to $28.00 in a research note on Monday, April 1st.

Capital Bancorp Stock Performance

Shares of CBNK stock opened at $19.71 on Tuesday. The firm has a market capitalization of $273.77 million, a price-to-earnings ratio of 7.73 and a beta of 0.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.02 and a quick ratio of 1.02. The business has a fifty day moving average of $20.31 and a 200 day moving average of $21.25. Capital Bancorp has a 1 year low of $15.36 and a 1 year high of $25.00.

Capital Bancorp (NASDAQ:CBNK) last issued its earnings results on Monday, January 22nd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The company had revenue of $52.91 million during the quarter, compared to analyst estimates of $42.48 million. Capital Bancorp had a return on equity of 14.79% and a net margin of 17.23%. As a group, research analysts expect that Capital Bancorp will post 2.47 earnings per share for the current year.

Hedge Funds Weigh In On Capital Bancorp

Institutional investors have recently modified their holdings of the stock. AJOVista LLC purchased a new position in shares of Capital Bancorp during the 4th quarter valued at about $33,000. New York State Common Retirement Fund raised its stake in shares of Capital Bancorp by 28.6% during the 4th quarter. New York State Common Retirement Fund now owns 3,185 shares of the financial services provider’s stock valued at $77,000 after buying an additional 708 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Capital Bancorp during the 4th quarter valued at about $125,000. Comerica Bank raised its stake in shares of Capital Bancorp by 41.3% during the 4th quarter. Comerica Bank now owns 49,356 shares of the financial services provider’s stock valued at $1,194,000 after buying an additional 14,427 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in shares of Capital Bancorp by 35.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 111,328 shares of the financial services provider’s stock valued at $2,694,000 after buying an additional 29,147 shares during the last quarter. 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.