Capital Bancorp, Inc. (NASDAQ:CBNK) Short Interest Update

Capital Bancorp, Inc. (NASDAQ:CBNK) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 145,700 shares, an increase of 251.9% from the March 31st total of 41,400 shares. Based on an average trading volume of 21,400 shares, the short-interest ratio is currently 6.8 days. Currently, 1.7% of the shares of the company are short sold.

Hedge Funds Weigh In On Capital Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in CBNK. Ballast Asset Management LP bought a new stake in shares of Capital Bancorp during the 3rd quarter valued at approximately $2,397,000. Wedge Capital Management L L P NC grew its holdings in shares of Capital Bancorp by 35.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 111,328 shares of the financial services provider’s stock valued at $2,694,000 after purchasing an additional 29,147 shares during the last quarter. Comerica Bank grew its holdings in shares of Capital Bancorp by 41.3% during the 4th quarter. Comerica Bank now owns 49,356 shares of the financial services provider’s stock valued at $1,194,000 after purchasing an additional 14,427 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Capital Bancorp during the 4th quarter valued at approximately $125,000. Finally, New York State Common Retirement Fund grew its holdings in shares of 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 during the last quarter. 56.14% of the stock is currently owned by institutional investors and hedge funds.

Capital Bancorp Stock Performance

Capital Bancorp stock traded down $0.06 during midday trading on Friday, hitting $19.58. The company’s stock had a trading volume of 12,505 shares, compared to its average volume of 21,506. Capital Bancorp has a 1-year low of $15.36 and a 1-year high of $25.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.02 and a quick ratio of 1.02. The company has a 50-day moving average price of $20.24 and a two-hundred day moving average price of $21.23. The company has a market cap of $271.97 million, a price-to-earnings ratio of 8.39 and a beta of 0.41.

Capital Bancorp (NASDAQ:CBNK) last issued its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.03. The business had revenue of $52.91 million during the quarter, compared to analysts’ expectations of $42.48 million. Capital Bancorp had a net margin of 15.35% and a return on equity of 13.56%. As a group, sell-side analysts predict that Capital Bancorp will post 2.47 earnings per share for the current year.

Capital Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, May 6th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Friday, May 3rd. Capital Bancorp’s payout ratio is presently 13.68%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $25.00 price objective on shares of Capital Bancorp in a research report on Monday, April 1st. Stephens raised shares of Capital Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $25.00 to $28.00 in a research report on Monday, April 1st. Finally, Hovde Group cut their target price on shares of Capital Bancorp from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Tuesday.

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.