Capital Bancorp (NASDAQ:CBNK) Hits New 52-Week High – Time to Buy?

Capital Bancorp, Inc. (NASDAQ:CBNK) reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $41.45 and last traded at $41.3030, with a volume of 242,837 shares. The stock had previously closed at $41.29.

Analyst Upgrades and Downgrades

CBNK has been the topic of a number of recent analyst reports. Hovde Group downgraded shares of Capital Bancorp from a “strong-buy” rating to a “hold” rating and set a $42.00 price target on the stock. in a report on Thursday, October 1st. Stephens lowered Capital Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 16th. Brean Capital downgraded shares of Capital Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 30th. Weiss Ratings raised Capital Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, October 14th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Capital Bancorp from $35.00 to $40.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $39.67.

Capital Bancorp Price Performance

The stock has a fifty day moving average of $37.54 and a 200-day moving average of $35.05. 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 stock has a market capitalization of $678.54 million, a price-to-earnings ratio of 12.25 and a beta of 0.52.

Capital Bancorp (NASDAQ:CBNK) last issued its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.87 earnings per share (EPS) 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 business had revenue of $65.29 million for the quarter, compared to analyst estimates of $66.54 million. On average, equities research analysts predict that Capital Bancorp, Inc. will post 3.47 EPS for the current fiscal year.

Institutional Trading of Capital Bancorp

A number of hedge funds have recently made changes to their positions in CBNK. Cassilly Financial Group LLC acquired a new position in Capital Bancorp in the third quarter worth about $206,000. Sequoia Financial Advisors LLC acquired a new position in Capital Bancorp during the 2nd quarter valued at about $324,000. Squarepoint Ops LLC raised its position in shares of Capital Bancorp by 31.9% during the 2nd quarter. Squarepoint Ops LLC now owns 137,954 shares of the financial services provider’s stock worth $4,845,000 after buying an additional 33,402 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Capital Bancorp in the second quarter valued at approximately $310,000. Finally, Empowered Funds LLC acquired a new stake in Capital Bancorp in the second quarter worth approximately $3,664,000. Hedge funds and other institutional investors own 56.14% of the company’s stock.

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 products and services to businesses, professionals and individuals.

Capital Bank offers business and commercial real estate lending, construction and development financing, residential mortgage lending, small-business lending, consumer loans and deposit accounts. Its services also include cash management, online and mobile banking, treasury management and other financial solutions designed for commercial and retail customers.

Founded in 1999, Capital Bancorp primarily serves communities in the Washington, DC, metropolitan area, including Maryland and Northern Virginia.