Capital Bancorp (NASDAQ:CBNK) Reaches New 1-Year High – Here’s What Happened

Capital Bancorp, Inc. (NASDAQ:CBNK) reached a new 52-week high on Wednesday . The stock traded as high as $30.70 and last traded at $30.70, with a volume of 1109 shares. The stock had previously closed at $30.49.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised their price objective on shares of Capital Bancorp from $28.00 to $32.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Capital Bancorp Price Performance

The stock has a market cap of $507.07 million, a P/E ratio of 13.09 and a beta of 0.50. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23. The company’s fifty day simple moving average is $26.88 and its 200-day simple moving average is $24.34.

Capital Bancorp (NASDAQ:CBNK) last posted its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.02). The business had revenue of $59.25 million during the quarter. Capital Bancorp had a return on equity of 12.66% and a net margin of 14.49%. As a group, sell-side analysts forecast that Capital Bancorp, Inc. will post 2.37 EPS for the current year.

Capital Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.40 annualized dividend and a yield of 1.31%. Capital Bancorp’s dividend payout ratio is currently 17.17%.

Insider Buying and Selling

In other news, CFO Dominic C. Canuso acquired 1,000 shares of the company’s stock in a transaction on Monday, November 4th. The stock was purchased at an average cost of $25.52 per share, with a total value of $25,520.00. Following the acquisition, the chief financial officer now owns 2,000 shares of the company’s stock, valued at $51,040. This trade represents a 100.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Steven M. Poynot bought 2,000 shares of Capital Bancorp stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $25.36 per share, for a total transaction of $50,720.00. Following the purchase, the chief operating officer now directly owns 4,503 shares in the company, valued at approximately $114,196.08. The trade was a 79.90 % increase in their position. The disclosure for this purchase can be found here. 32.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Capital Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in Capital Bancorp by 0.9% in the third quarter. State Street Corp now owns 175,639 shares of the financial services provider’s stock valued at $4,516,000 after acquiring an additional 1,526 shares during the period. Martingale Asset Management L P raised its holdings in Capital Bancorp by 10.1% during the 3rd quarter. Martingale Asset Management L P now owns 27,369 shares of the financial services provider’s stock worth $704,000 after buying an additional 2,511 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Capital Bancorp by 6.0% in the second quarter. Bank of New York Mellon Corp now owns 59,111 shares of the financial services provider’s stock valued at $1,212,000 after buying an additional 3,331 shares during the period. Vanguard Group Inc. increased its position in shares of Capital Bancorp by 0.9% during the first quarter. Vanguard Group Inc. now owns 437,034 shares of the financial services provider’s stock worth $9,103,000 after acquiring an additional 4,019 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Capital Bancorp by 5.2% during the third quarter. Empowered Funds LLC now owns 89,110 shares of the financial services provider’s stock worth $2,291,000 after acquiring an additional 4,422 shares during the period. Institutional investors and hedge funds own 56.14% of the company’s stock.

About Capital Bancorp

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.