Capital Bancorp (NASDAQ:CBNK) Hits New 12-Month High – Here’s Why

Capital Bancorp, Inc. (NASDAQ:CBNK) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $31.22 and last traded at $30.55, with a volume of 4596 shares. The stock had previously closed at $30.79.

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 stock a “market perform” rating in a research note on Wednesday, December 4th.

Capital Bancorp Stock Down 5.2 %

The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. The stock’s 50-day simple moving average is $27.47 and its 200 day simple moving average is $24.71. The firm has a market cap of $475.38 million, a P/E ratio of 12.32 and a beta of 0.50.

Capital Bancorp (NASDAQ:CBNK) last released its earnings results on Monday, October 28th. The financial services provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.02). Capital Bancorp had a return on equity of 12.66% and a net margin of 14.49%. The business had revenue of $59.25 million for the quarter. As a group, research analysts forecast that Capital Bancorp, Inc. will post 2.37 EPS for the current fiscal year.

Capital Bancorp Dividend Announcement

The business 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. This represents a $0.40 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Monday, November 4th. Capital Bancorp’s payout ratio is 17.17%.

Insider Activity

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

Hedge Funds Weigh In On Capital Bancorp

Several hedge funds have recently modified their holdings of CBNK. Dimensional Fund Advisors LP boosted its position in Capital Bancorp by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 227,234 shares of the financial services provider’s stock worth $4,658,000 after purchasing an additional 9,461 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its position in Capital Bancorp by 14.3% during the second quarter. Pacific Ridge Capital Partners LLC now owns 208,364 shares of the financial services provider’s stock valued at $4,271,000 after buying an additional 26,091 shares during the period. State Street Corp increased its holdings in Capital Bancorp by 0.9% during the third 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 last quarter. 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 acquiring an additional 4,422 shares during the period. Finally, Kendall Capital Management bought a new stake in shares of Capital Bancorp in the 2nd quarter worth approximately $1,664,000. Institutional investors own 56.14% of the company’s stock.

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.