Capital Bancorp (NASDAQ:CBNK) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Capital Bancorp (NASDAQ:CBNK) posted its earnings results on Monday. The financial services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05, FiscalAI reports. Capital Bancorp had a net margin of 17.47% and a return on equity of 13.30%. The company had revenue of $65.29 million for the quarter, compared to analysts’ expectations of $66.54 million.

Capital Bancorp Trading Up 4.0%

Shares of CBNK stock opened at $37.78 on Wednesday. Capital Bancorp has a fifty-two week low of $26.40 and a fifty-two week high of $38.83. The company has a 50 day moving average price of $34.06 and a 200 day moving average price of $31.73. The stock has a market capitalization of $615.36 million, a P/E ratio of 11.11 and a beta of 0.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.03.

Capital Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 10th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Capital Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date is Monday, August 10th. Capital Bancorp’s dividend payout ratio (DPR) is presently 14.12%.

Hedge Funds Weigh In On Capital Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBNK. Advisory Services Network LLC acquired a new position in shares of Capital Bancorp in the third quarter worth $29,000. Aquatic Capital Management LLC purchased a new position in Capital Bancorp in the third quarter valued at $61,000. Franklin Resources Inc. acquired a new position in Capital Bancorp during the 2nd quarter worth $201,000. HRT Financial LP purchased a new stake in Capital Bancorp during the 4th quarter worth about $205,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in Capital Bancorp during the 4th quarter worth about $209,000. Hedge funds and other institutional investors own 56.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Capital Bancorp from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Weiss Ratings restated a “buy (b)” rating on shares of Capital Bancorp in a report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Capital Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

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.