Capital Bancorp (NASDAQ:CBNK) Sets New 12-Month High Following Better-Than-Expected Earnings

Capital Bancorp, Inc. (NASDAQ:CBNK) shares reached a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $31.33 and last traded at $31.67, with a volume of 9545 shares. The stock had previously closed at $29.51.

The financial services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.26. Capital Bancorp had a return on equity of 12.66% and a net margin of 14.49%. During the same quarter in the prior year, the firm posted $0.65 earnings per share.

Capital Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, February 10th. This represents a $0.40 annualized dividend and a dividend yield of 1.30%. Capital Bancorp’s dividend payout ratio (DPR) is 17.17%.

Wall Street Analyst Weigh In

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

Insider Activity at Capital Bancorp

In related news, CFO Dominic C. Canuso bought 1,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 2,000 shares of the company’s stock, valued at $51,040. The trade was a 100.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Steven M. Poynot purchased 2,000 shares of Capital Bancorp stock in a transaction on Friday, November 1st. The stock was bought at an average cost of $25.36 per share, with a total value of $50,720.00. Following the completion of the acquisition, the chief operating officer now owns 4,503 shares in the company, valued at approximately $114,196.08. This trade 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 institutional investors have recently modified their holdings of CBNK. Dimensional Fund Advisors LP boosted its stake in Capital Bancorp by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 227,234 shares of the financial services provider’s stock worth $4,658,000 after buying an additional 9,461 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Capital Bancorp during the 2nd quarter valued at about $256,000. Squarepoint Ops LLC bought a new stake in Capital Bancorp in the second quarter valued at about $304,000. Empowered Funds LLC raised its position in Capital Bancorp by 5.2% in the third quarter. Empowered Funds LLC now owns 89,110 shares of the financial services provider’s stock worth $2,291,000 after purchasing an additional 4,422 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Capital Bancorp during the third quarter worth about $276,000. Institutional investors and hedge funds own 56.14% of the company’s stock.

Capital Bancorp Stock Up 4.4 %

The company has a market capitalization of $510.38 million, a price-to-earnings ratio of 13.23 and a beta of 0.51. The business has a fifty day simple moving average of $28.88 and a two-hundred day simple moving average of $26.47. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.23.

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.