Capital Bancorp, Inc. (CBNK) to Issue Quarterly Dividend of $0.10 on August 21st

Capital Bancorp, Inc. (NASDAQ:CBNK) declared a quarterly dividend on Monday, July 22nd, Zacks reports. Shareholders of record on Monday, August 5th will be given a dividend of 0.10 per share by the financial services provider on Wednesday, August 21st. This represents a $0.40 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Monday, August 5th. This is an increase from Capital Bancorp’s previous quarterly dividend of $0.08.

Capital Bancorp has a dividend payout ratio of 10.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Capital Bancorp to earn $3.15 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 10.2%.

Capital Bancorp Stock Up 3.1 %

CBNK traded up $0.75 on Wednesday, reaching $24.99. 8,307 shares of the company traded hands, compared to its average volume of 22,855. The stock’s 50 day moving average price is $20.66 and its 200-day moving average price is $20.76. The company has a market cap of $347.11 million, a price-to-earnings ratio of 10.36 and a beta of 0.48. Capital Bancorp has a 52-week low of $18.56 and a 52-week high of $25.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02.

Capital Bancorp (NASDAQ:CBNK) last released its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The firm had revenue of $57.51 million during the quarter, compared to analyst estimates of $42.70 million. Capital Bancorp had a return on equity of 13.54% and a net margin of 15.35%. On average, sell-side analysts expect that Capital Bancorp will post 2.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CBNK has been the topic of a number of analyst reports. Stephens raised Capital Bancorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $25.00 to $28.00 in a report on Monday, April 1st. Keefe, Bruyette & Woods boosted their price objective on shares of Capital Bancorp from $25.00 to $27.00 and gave the stock a “market perform” rating in a research note on Tuesday. Finally, Hovde Group increased their price objective on Capital Bancorp from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday.

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.