CapStar Financial (NASDAQ:CSTR) Releases Earnings Results, Misses Estimates By $0.02 EPS

CapStar Financial (NASDAQ:CSTR – Get Rating) issued its earnings results on Thursday. The bank reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02), reports. The firm had revenue of $31.24 million during the quarter, compared to the consensus estimate of $31.44 million. CapStar Financial had a return on equity of 11.36% and a net margin of 30.88%.

CapStar Financial Stock Performance

Shares of NASDAQ CSTR traded down $0.51 during mid-day trading on Friday, reaching $17.15. 97,039 shares of the company’s stock were exchanged, compared to its average volume of 47,906. The firm has a 50-day moving average price of $17.67 and a two-hundred day moving average price of $18.86. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.94. The firm has a market capitalization of $378.50 million, a price-to-earnings ratio of 9.69 and a beta of 0.85. CapStar Financial has a 52 week low of $15.71 and a 52 week high of $22.17.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank purchased a new stake in CapStar Financial during the first quarter valued at about $52,000. BNP Paribas Arbitrage SA raised its position in shares of CapStar Financial by 49.5% in the second quarter. BNP Paribas Arbitrage SA now owns 5,065 shares of the bank’s stock valued at $99,000 after purchasing an additional 1,678 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of CapStar Financial by 390.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,004 shares of the bank’s stock valued at $111,000 after buying an additional 4,780 shares in the last quarter. BNP Paribas Arbitrage SNC boosted its holdings in CapStar Financial by 20.9% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 6,122 shares of the bank’s stock worth $113,000 after buying an additional 1,057 shares during the period. Finally, SG Americas Securities LLC purchased a new position in CapStar Financial in the 2nd quarter valued at approximately $159,000. 45.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CSTR. Keefe, Bruyette & Woods cut shares of CapStar Financial from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $26.00 to $20.00 in a report on Sunday, October 23rd. StockNews.com assumed coverage on CapStar Financial in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Piper Sandler lowered CapStar Financial from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $24.00 to $19.00 in a report on Monday, October 24th.

CapStar Financial Company Profile

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CapStar Financial Holdings, Inc operates as the bank holding company for CapStar Bank that provides banking services to consumer and corporate customers located primarily in Tennessee, the United States. Its deposit products and services include demand deposits, interest-bearing transaction accounts, money market accounts, time and savings deposits, certificates of deposit, and CDARS reciprocal products.