Hovde Group Issues Pessimistic Forecast for Capital Bancorp (NASDAQ:CBNK) Stock Price

Capital Bancorp (NASDAQ:CBNK) had its price target lowered by equities researchers at Hovde Group from $36.00 to $34.00 in a report issued on Monday,Briefing.com Automated Import reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s target price indicates a potential upside of 20.27% from the stock’s current price.

Separately, Keefe, Bruyette & Woods upped their target price on shares of Capital Bancorp from $32.00 to $35.00 and gave the company a “market perform” rating in a research report on Friday, February 7th.

Capital Bancorp Stock Performance

NASDAQ:CBNK opened at $28.27 on Monday. The company has a market cap of $468.09 million, a price-to-earnings ratio of 13.27 and a beta of 0.54. Capital Bancorp has a 1 year low of $19.02 and a 1 year high of $32.88. The stock’s 50 day simple moving average is $29.83 and its two-hundred day simple moving average is $27.93. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 1.02.

Capital Bancorp (NASDAQ:CBNK) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.26. Capital Bancorp had a net margin of 12.66% and a return on equity of 14.89%. During the same period in the previous year, the firm earned $0.65 EPS. As a group, equities analysts anticipate that Capital Bancorp will post 3.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Randall James Levitt sold 14,500 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.30, for a total transaction of $468,350.00. Following the transaction, the director now directly owns 100,000 shares in the company, valued at approximately $3,230,000. This represents a 12.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 32.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Alliancebernstein L.P. raised its holdings in shares of Capital Bancorp by 70.4% in the fourth quarter. Alliancebernstein L.P. now owns 614,473 shares of the financial services provider’s stock worth $17,512,000 after buying an additional 253,819 shares during the period. Vanguard Group Inc. increased its stake in Capital Bancorp by 14.4% in the fourth quarter. Vanguard Group Inc. now owns 558,300 shares of the financial services provider’s stock worth $15,912,000 after purchasing an additional 70,420 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Capital Bancorp by 6.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 263,623 shares of the financial services provider’s stock worth $7,513,000 after purchasing an additional 16,957 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Capital Bancorp by 15.9% during the fourth quarter. Geode Capital Management LLC now owns 240,893 shares of the financial services provider’s stock valued at $6,867,000 after purchasing an additional 33,009 shares during the period. Finally, State Street Corp grew its holdings in shares of Capital Bancorp by 0.9% in the third quarter. State Street Corp now owns 175,639 shares of the financial services provider’s stock worth $4,516,000 after purchasing an additional 1,526 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.