Capital Bancorp (NASDAQ:CBNK) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Capital Bancorp, Inc. (NASDAQ:CBNK)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.47 and traded as high as $24.75. Capital Bancorp shares last traded at $24.47, with a volume of 21,069 shares changing hands.

Wall Street Analysts Forecast Growth

CBNK has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on Capital Bancorp from $25.00 to $27.00 and gave the company a “market perform” rating in a report on Tuesday, July 23rd. Hovde Group increased their price target on shares of Capital Bancorp from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th.

Capital Bancorp Trading Down 0.7 %

The company has a 50 day moving average of $25.02 and a 200 day moving average of $22.47. The firm has a market cap of $339.94 million, a P/E ratio of 10.46 and a beta of 0.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.00 and a current ratio of 1.01.

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 business 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 13.34% and a net margin of 15.35%. Analysts predict that Capital Bancorp, Inc. will post 2.59 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mary Ann Scully acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were acquired at an average cost of $25.14 per share, with a total value of $50,280.00. Following the purchase, the director now owns 13,536 shares of the company’s stock, valued at approximately $340,295.04. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 32.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Pacific Ridge Capital Partners LLC lifted its position in shares of Capital Bancorp by 14.3% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 208,364 shares of the financial services provider’s stock worth $4,271,000 after purchasing an additional 26,091 shares during the last quarter. Kendall Capital Management acquired a new stake in shares of Capital Bancorp in the second quarter worth $1,664,000. Acadian Asset Management LLC increased its position in Capital Bancorp by 11.9% during the first quarter. Acadian Asset Management LLC now owns 55,567 shares of the financial services provider’s stock worth $1,155,000 after acquiring an additional 5,893 shares during the period. Wealthspire Advisors LLC acquired a new position in Capital Bancorp during the 2nd quarter valued at $1,577,000. Finally, Squarepoint Ops LLC bought a new stake in Capital Bancorp in the 2nd quarter valued at $304,000. 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.