Capital Bancorp (NASDAQ:CBNK) Reaches New 52-Week High on Analyst Upgrade

Capital Bancorp, Inc. (NASDAQ:CBNK) shares reached a new 52-week high during mid-day trading on Thursday after Keefe, Bruyette & Woods raised their price target on the stock from $28.00 to $32.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Capital Bancorp traded as high as $30.34 and last traded at $30.26, with a volume of 5145 shares. The stock had previously closed at $29.81.

Insider Buying and Selling at Capital Bancorp

In other Capital Bancorp news, COO Steven M. Poynot bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price 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 $114,196.08. This trade represents a 79.90 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dominic C. Canuso bought 1,000 shares of the stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $25.52 per share, for a total transaction of $25,520.00. Following 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 disclosure for this purchase can be found here. Corporate insiders own 32.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CBNK. Vanguard Group Inc. lifted its holdings in shares of Capital Bancorp by 0.9% during the 1st 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 during the period. Dimensional Fund Advisors LP grew its stake in shares of Capital Bancorp by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 227,234 shares of the financial services provider’s stock valued at $4,658,000 after purchasing an additional 9,461 shares during the period. Pacific Ridge Capital Partners LLC raised its holdings in shares of Capital Bancorp by 14.3% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 208,364 shares of the financial services provider’s stock worth $4,271,000 after buying an additional 26,091 shares in the last quarter. State Street Corp lifted its position in shares of Capital Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 175,639 shares of the financial services provider’s stock worth $4,516,000 after buying an additional 1,526 shares during the period. Finally, Empowered Funds LLC boosted its stake in Capital Bancorp by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 89,110 shares of the financial services provider’s stock valued at $2,291,000 after buying an additional 4,422 shares in the last quarter. Institutional investors and hedge funds own 56.14% of the company’s stock.

Capital Bancorp Stock Up 1.5 %

The stock has a market capitalization of $501.11 million, a P/E ratio of 12.79 and a beta of 0.50. The business has a 50-day simple moving average of $26.50 and a two-hundred day simple moving average of $24.05. 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 (NASDAQ:CBNK) last released its quarterly earnings results 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). The business had revenue of $59.25 million for the quarter. Capital Bancorp had a net margin of 14.49% and a return on equity of 12.66%. Equities research analysts forecast that Capital Bancorp, Inc. will post 2.37 earnings per share for the current fiscal year.

Capital Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.32%. Capital Bancorp’s dividend payout ratio (DPR) is currently 17.17%.

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.