Capital Bancorp (NASDAQ:CBNK) Sees Unusually-High Trading Volume – Here’s Why

Capital Bancorp, Inc. (NASDAQ:CBNK) shares saw strong trading volume on Friday . 25,049 shares changed hands during trading, a decline of 8% from the previous session’s volume of 27,275 shares.The stock last traded at $30.22 and had previously closed at $30.62.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their price target 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 company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $507.73 million, a price-to-earnings ratio of 13.16 and a beta of 0.50. The company’s 50 day moving average is $27.24 and its 200 day moving average is $24.53.

Capital Bancorp (NASDAQ:CBNK) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). The business had revenue of $59.25 million during the quarter. Capital Bancorp had a net margin of 14.49% and a return on equity of 12.66%. Research analysts anticipate that Capital Bancorp, Inc. will post 2.37 EPS for the current fiscal year.

Capital Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.30%. Capital Bancorp’s dividend payout ratio is presently 17.17%.

Insider Buying and Selling at Capital Bancorp

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

Institutional Trading of Capital Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in CBNK. BNP Paribas Financial Markets boosted its holdings in shares of Capital Bancorp by 317.1% in the third quarter. BNP Paribas Financial Markets now owns 7,809 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 5,937 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Capital Bancorp during the second quarter worth about $256,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Capital Bancorp during the third quarter worth about $276,000. Squarepoint Ops LLC purchased a new stake in Capital Bancorp during the second quarter worth about $304,000. Finally, Barclays PLC boosted its holdings in Capital Bancorp by 297.3% during the third quarter. Barclays PLC now owns 11,918 shares of the financial services provider’s stock worth $306,000 after buying an additional 8,918 shares in the last quarter. Hedge funds and other institutional investors 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.