Capital Bancorp (NASDAQ:CBNK) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Capital Bancorp, Inc. (NASDAQ:CBNK)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $29.63 and traded as high as $31.77. Capital Bancorp shares last traded at $31.55, with a volume of 31,284 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods upped 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 upgraded shares of Capital Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 4th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.33.

Capital Bancorp Trading Up 0.1%

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 company has a market cap of $514.58 million, a PE ratio of 9.53 and a beta of 0.55. The business’s 50-day simple moving average is $30.34 and its 200-day simple moving average is $29.63.

Capital Bancorp (NASDAQ:CBNK) last released its earnings results on Monday, April 27th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.05). Capital Bancorp had a return on equity of 13.62% and a net margin of 17.48%.The company had revenue of $62.77 million during the quarter, compared to analysts’ expectations of $62.41 million. As a group, analysts expect that Capital Bancorp, Inc. will post 3.4 EPS for the current fiscal year.

Capital Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Monday, May 11th will be given a $0.12 dividend. The ex-dividend date is Monday, May 11th. This represents a $0.48 dividend on an annualized basis and a yield of 1.5%. Capital Bancorp’s dividend payout ratio is presently 14.50%.

Institutional Investors Weigh In On Capital Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. lifted its position in Capital Bancorp by 1.2% in the 2nd quarter. Alliancebernstein L.P. now owns 622,483 shares of the financial services provider’s stock worth $20,903,000 after buying an additional 7,510 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Capital Bancorp by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 355,466 shares of the financial services provider’s stock worth $10,571,000 after buying an additional 17,264 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Capital Bancorp by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 340,712 shares of the financial services provider’s stock worth $9,600,000 after purchasing an additional 5,016 shares during the last quarter. Kennedy Capital Management LLC increased its stake in shares of Capital Bancorp by 0.3% during the 4th quarter. Kennedy Capital Management LLC now owns 262,462 shares of the financial services provider’s stock worth $7,394,000 after purchasing an additional 750 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in shares of Capital Bancorp by 5.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 165,524 shares of the financial services provider’s stock worth $4,663,000 after purchasing an additional 8,959 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. 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.