Capital Bank Corporation Loss Widens To $2.59 Per Share (CBKN)

Raleigh, North Carolina-based Capital Bank Corporation CBKN released its financial results on Monday morning. Capital Bank Corporation reported that its 4th quarter net loss widened to $34.1 million, or $2.59 per share, from a net loss of ($7.8) million, or 68 cents per share, a year earlier. Chairman and CEO Gene Taylor said, "Many of our borrowers remain under stress, but we continue to work aggressively to resolve our problem loans and have experienced measurable success with many of these efforts. While the fourth quarter results are a disappointment, they were expected. We are excited to have closed our investment and are eager to proceed with accelerating improvements throughout the Company." Capital Bank Corporation (CBKN) closed the previous trading day at $3.40 per share. Analysts covering the company's stock give it a consensus price target of $8.00 per share. Read more from Benzinga's Company news.