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

Shares of Capital Bancorp, Inc. (NASDAQ:CBNK) reached a new 52-week high on Wednesday . The stock traded as high as $32.49 and last traded at $32.64, with a volume of 11391 shares changing hands. The stock had previously closed at $32.33.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their price objective on Capital Bancorp from $32.00 to $35.00 and gave the company a “market perform” rating in a report on Friday, February 7th.

Capital Bancorp Price Performance

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.02 and a current ratio of 1.03. The company has a 50-day moving average price of $29.65 and a 200-day moving average price of $27.19. The firm has a market capitalization of $535.88 million, a P/E ratio of 15.19 and a beta of 0.50.

Capital Bancorp (NASDAQ:CBNK) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.66 by $0.26. Capital Bancorp had a net margin of 12.66% and a return on equity of 14.89%. During the same period in the prior year, the firm earned $0.65 earnings per share. On average, sell-side analysts predict that Capital Bancorp, Inc. will post 3.17 earnings per share for the current year.

Capital Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Monday, February 10th. Capital Bancorp’s payout ratio is currently 18.78%.

Insider Transactions at Capital Bancorp

In other news, Director Randall James Levitt sold 14,500 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $32.30, for a total value of $468,350.00. Following the sale, the director now directly owns 100,000 shares in the company, valued at $3,230,000. The trade was a 12.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 32.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Capital Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of CBNK. Picton Mahoney Asset Management grew its stake in shares of Capital Bancorp by 123.0% during the 4th quarter. Picton Mahoney Asset Management now owns 1,135 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 626 shares in the last quarter. Federated Hermes Inc. grew its position in Capital Bancorp by 194.7% in the fourth quarter. Federated Hermes Inc. now owns 3,528 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 2,331 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Capital Bancorp in the 4th quarter valued at $109,000. Wells Fargo & Company MN lifted its position in Capital Bancorp by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 5,400 shares of the financial services provider’s stock worth $154,000 after buying an additional 1,177 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Capital Bancorp by 317.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,809 shares of the financial services provider’s stock worth $201,000 after buying an additional 5,937 shares during the last quarter. Institutional investors and hedge funds own 56.14% of the company’s stock.

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.