Capital Bancorp (NASDAQ:CBNK) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Capital Bancorp, Inc. (NASDAQ:CBNK)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.17 and traded as high as $29.11. Capital Bancorp shares last traded at $28.15, with a volume of 52,115 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CBNK. Keefe, Bruyette & Woods increased their price objective on shares of Capital Bancorp from $25.00 to $27.00 and gave the company a “market perform” rating in a research note on Tuesday, July 23rd. Hovde Group raised their price target on shares of Capital Bancorp from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th.

Capital Bancorp Stock Performance

The firm has a market cap of $461.20 million, a price-to-earnings ratio of 11.93 and a beta of 0.47. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 1.00. The firm has a fifty day simple moving average of $25.55 and a two-hundred day simple moving average of $23.20.

Capital Bancorp (NASDAQ:CBNK) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). Capital Bancorp had a net margin of 14.49% and a return on equity of 12.66%. The company had revenue of $59.25 million for the quarter. On average, analysts expect 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 will be paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.44%. Capital Bancorp’s dividend payout ratio (DPR) is presently 17.17%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Capital Bancorp

A number of large investors have recently made changes to their positions in CBNK. Lazard Asset Management LLC purchased a new stake in Capital Bancorp in the first quarter valued at $26,000. BNP Paribas Financial Markets boosted its position in shares of Capital Bancorp by 80.9% during the 1st quarter. BNP Paribas Financial Markets now owns 4,942 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 2,210 shares during the period. Renaissance Technologies LLC acquired a new stake in Capital Bancorp in the 2nd quarter valued at approximately $256,000. Janney Montgomery Scott LLC lifted its stake in Capital Bancorp by 4.6% during the first quarter. Janney Montgomery Scott LLC now owns 13,200 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 575 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Capital Bancorp in the third quarter valued at $276,000. 56.14% of the stock is currently owned by hedge funds and other institutional investors.

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.