Capital Bancorp (NASDAQ:CBNK) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Capital Bancorp, Inc. (NASDAQ:CBNK) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $29.58 and traded as high as $30.34. Capital Bancorp shares last traded at $30.16, with a volume of 48,707 shares changing hands.

Wall Street Analysts Forecast Growth

CBNK has been the topic of several recent research reports. Weiss Ratings raised shares of Capital Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 4th. Zacks Research raised Capital Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods upped their target price on Capital Bancorp from $31.00 to $32.00 and gave the stock a “market perform” rating in a research note on Monday, February 2nd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.67.

Capital Bancorp Stock Performance

The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average price is $30.22 and its two-hundred day moving average price is $29.58. The stock has a market capitalization of $493.72 million, a PE ratio of 8.87 and a beta of 0.59.

Capital Bancorp (NASDAQ:CBNK) last announced its quarterly earnings results on Monday, January 26th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. The firm had revenue of $62.74 million for the quarter, compared to the consensus estimate of $60.62 million. Capital Bancorp had a net margin of 18.44% and a return on equity of 14.56%. As a group, equities research analysts forecast that Capital Bancorp, Inc. will post 3.17 EPS for the current year.

Capital Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Monday, February 9th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, February 9th. Capital Bancorp’s dividend payout ratio is presently 14.12%.

Hedge Funds Weigh In On Capital Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC boosted its position in Capital Bancorp by 48.4% during the first quarter. AQR Capital Management LLC now owns 13,299 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 4,336 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Capital Bancorp by 16.7% in the second quarter. Geode Capital Management LLC now owns 282,690 shares of the financial services provider’s stock valued at $9,495,000 after buying an additional 40,489 shares in the last quarter. Creative Planning raised its stake in shares of Capital Bancorp by 46.0% during the 2nd quarter. Creative Planning now owns 20,536 shares of the financial services provider’s stock worth $690,000 after buying an additional 6,473 shares during the period. Franklin Resources Inc. acquired a new position in shares of Capital Bancorp during the 2nd quarter worth approximately $201,000. Finally, Rhumbline Advisers lifted its position in shares of Capital Bancorp by 23.9% during the 2nd quarter. Rhumbline Advisers now owns 18,378 shares of the financial services provider’s stock valued at $617,000 after buying an additional 3,545 shares in 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. 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.