Capital Bancorp (NASDAQ:CBNK) Reaches New 52-Week High – Here’s What Happened

Shares of Capital Bancorp, Inc. (NASDAQ:CBNK) reached a new 52-week high on Friday . The stock traded as high as $35.72 and last traded at $35.47, with a volume of 3432 shares. The stock had previously closed at $35.34.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted their price target on Capital Bancorp from $33.00 to $35.00 and gave the company a “market perform” rating in a research note on Monday, May 12th.

Capital Bancorp Stock Down 0.8%

The firm’s fifty day moving average price is $33.08 and its 200-day moving average price is $30.57. The company has a market capitalization of $584.27 million, a price-to-earnings ratio of 14.14 and a beta of 0.69. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.01.

Capital Bancorp (NASDAQ:CBNK) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.21. The company had revenue of $58.60 million for the quarter, compared to analysts’ expectations of $57.54 million. Capital Bancorp had a net margin of 14.43% and a return on equity of 15.04%. Sell-side analysts expect that Capital Bancorp, Inc. will post 3.17 earnings per share for the current fiscal year.

Capital Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 12th were given a dividend of $0.10 per share. The ex-dividend date was Monday, May 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.14%. Capital Bancorp’s dividend payout ratio (DPR) is presently 16.13%.

Insider Buying and Selling at Capital Bancorp

In other Capital Bancorp news, COO Steven M. Poynot bought 750 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were bought at an average price of $33.35 per share, for a total transaction of $25,012.50. Following the acquisition, the chief operating officer directly owned 5,253 shares of the company’s stock, valued at approximately $175,187.55. The trade was a 16.66% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Capital Bancorp

Hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. grew its position in shares of Capital Bancorp by 12.7% during the 1st quarter. Federated Hermes Inc. now owns 3,977 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 449 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Capital Bancorp by 5.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,664 shares of the financial services provider’s stock worth $614,000 after acquiring an additional 1,127 shares in the last quarter. Wells Fargo & Company MN grew its position in Capital Bancorp by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 5,400 shares of the financial services provider’s stock worth $154,000 after acquiring an additional 1,177 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Capital Bancorp by 19.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 10,749 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 1,754 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Capital Bancorp by 10.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,845 shares of the financial services provider’s stock worth $794,000 after acquiring an additional 2,604 shares in the last quarter. 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.