Capital Bancorp (NASDAQ:CBNK) Reaches New 52-Week High on Earnings Beat

Capital Bancorp, Inc. (NASDAQ:CBNK) hit a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company 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 EPS for the quarter, beating 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 last year, the business posted $0.65 EPS.

Wall Street Analysts Forecast Growth

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

Insider Activity at Capital Bancorp

In other Capital Bancorp news, CFO Dominic C. Canuso acquired 1,000 shares of the business’s stock in a transaction 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 in the company, valued at approximately $51,040. This trade represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Steven M. Poynot bought 2,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was purchased at an average cost of $25.36 per share, with a total value of $50,720.00. Following the completion of the transaction, the chief operating officer now directly owns 4,503 shares of the company’s stock, valued at approximately $114,196.08. The trade was 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 owned by corporate insiders.

Hedge Funds Weigh In On Capital Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its position in shares of Capital Bancorp by 297.3% during the third quarter. Barclays PLC now owns 11,918 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 8,918 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Capital Bancorp by 317.1% during the third quarter. BNP Paribas Financial Markets now owns 7,809 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 5,937 shares during the last quarter. Wedge Capital Management L L P NC grew its position in Capital Bancorp by 31.3% during the 4th quarter. Wedge Capital Management L L P NC now owns 93,993 shares of the financial services provider’s stock valued at $2,679,000 after purchasing an additional 22,381 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Capital Bancorp in the second quarter worth $304,000. Finally, State Street Corp lifted its holdings in shares of Capital Bancorp by 0.9% during the third quarter. State Street Corp now owns 175,639 shares of the financial services provider’s stock valued at $4,516,000 after purchasing an additional 1,526 shares in the last quarter. Institutional investors own 56.14% of the company’s stock.

Capital Bancorp Stock Performance

The business has a fifty day moving average price of $28.81 and a 200-day moving average price of $26.41. The stock has a market capitalization of $524.95 million, a P/E ratio of 13.61 and a beta of 0.51. 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.