Hovde Group Increases Capital Bancorp (NASDAQ:CBNK) Price Target to $28.00

Capital Bancorp (NASDAQ:CBNK) had its price objective hoisted by equities researchers at Hovde Group from $26.00 to $28.00 in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s price target suggests a potential upside of 7.98% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Keefe, Bruyette & Woods upped their price target on Capital Bancorp from $25.00 to $27.00 and gave the stock a “market perform” rating in a research note on Tuesday. Stephens upgraded Capital Bancorp from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $25.00 to $28.00 in a research note on Monday, April 1st.

Capital Bancorp Stock Performance

Shares of NASDAQ:CBNK opened at $25.93 on Wednesday. The firm has a market capitalization of $360.17 million, a PE ratio of 11.08 and a beta of 0.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50-day moving average of $20.76 and a two-hundred day moving average of $20.80. Capital Bancorp has a 12 month low of $18.56 and a 12 month high of $26.20.

Capital Bancorp (NASDAQ:CBNK) last announced its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). The firm had revenue of $57.51 million for the quarter, compared to analyst estimates of $42.70 million. Capital Bancorp had a return on equity of 13.54% and a net margin of 15.35%. As a group, research analysts forecast that Capital Bancorp will post 2.2 earnings per share for the current year.

Institutional Investors Weigh In On Capital Bancorp

A number of hedge funds have recently bought and sold shares of CBNK. Lazard Asset Management LLC acquired a new stake in Capital Bancorp during the 1st quarter valued at approximately $26,000. AJOVista LLC acquired a new stake in Capital Bancorp during the 4th quarter valued at approximately $33,000. New York State Common Retirement Fund grew its stake in Capital Bancorp by 28.6% during the 4th quarter. New York State Common Retirement Fund now owns 3,185 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 708 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Capital Bancorp by 80.9% during the 1st quarter. BNP Paribas Financial Markets now owns 4,942 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 2,210 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Capital Bancorp during the 4th quarter worth approximately $125,000. Institutional investors and hedge funds own 56.14% of the company’s stock.

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.