Capital Bancorp (NASDAQ:CBNK) Sets New 12-Month High Following Analyst Upgrade

Shares of Capital Bancorp, Inc. (NASDAQ:CBNK) reached a new 52-week high 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 changing hands. The stock had previously closed at $29.81.

Insider Buying and Selling

In other Capital Bancorp news, COO Steven M. Poynot bought 2,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were acquired at an average cost 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 of the company’s stock, valued at $114,196.08. The trade was a 79.90 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dominic C. Canuso bought 1,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $25.52 per share, for a total transaction of $25,520.00. Following the completion of the purchase, 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. 32.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Capital Bancorp

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its position 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 valued at $201,000 after purchasing an additional 5,937 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Capital Bancorp in the 3rd quarter worth approximately $276,000. Barclays PLC raised its position in shares of Capital Bancorp by 297.3% in the 3rd quarter. Barclays PLC now owns 11,918 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 8,918 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Capital Bancorp in the 2nd quarter worth approximately $256,000. Finally, Squarepoint Ops LLC bought a new position in Capital Bancorp during the 2nd quarter valued at approximately $304,000. 56.14% of the stock is currently owned by institutional investors.

Capital Bancorp Trading Down 0.6 %

The company has a market cap of $490.34 million, a P/E ratio of 12.71 and a beta of 0.50. The stock has a 50-day moving average of $26.69 and a two-hundred day moving average of $24.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.02 and a current ratio of 1.03.

Capital Bancorp (NASDAQ:CBNK) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). The firm had revenue of $59.25 million during the quarter. Capital Bancorp had a return on equity of 12.66% and a net margin of 14.49%. On average, equities research analysts predict that Capital Bancorp, Inc. will post 2.37 earnings per share for the current year.

Capital Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, November 4th were given a dividend of $0.10 per share. The ex-dividend date was Monday, November 4th. This represents a $0.40 annualized dividend and a yield of 1.35%. Capital Bancorp’s dividend payout ratio (DPR) is presently 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.