Capital Bancorp (NASDAQ:CBNK) Sets New 52-Week High Following Better-Than-Expected Earnings

Capital Bancorp, Inc. (NASDAQ:CBNK - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $31.33 and last traded at $31.67, with a volume of 9545 shares changing hands. The stock had previously closed at $29.51.

The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.26. Capital Bancorp had a net margin of 14.49% and a return on equity of 12.66%. During the same period in the prior year, the firm posted $0.65 earnings per share.

Capital Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Monday, February 10th. Capital Bancorp's payout ratio is currently 17.17%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their target price on shares of Capital Bancorp from $28.00 to $32.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th.

Insider Activity at Capital Bancorp

In other Capital Bancorp news, COO Steven M. Poynot purchased 2,000 shares of Capital Bancorp stock in a transaction dated 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 acquisition, the chief operating officer now directly owns 4,503 shares of the company's stock, valued at $114,196.08. This represents a 79.90 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dominic C. Canuso purchased 1,000 shares of the business's stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $25.52 per share, with a total value of $25,520.00. Following the acquisition, the chief financial officer now directly owns 2,000 shares in the company, valued at approximately $51,040. This represents 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 owned by corporate insiders.

Institutional Investors Weigh In On Capital Bancorp

Several institutional investors have recently modified their holdings of the company. Empowered Funds LLC lifted its holdings in Capital Bancorp by 0.4% in the 4th quarter. Empowered Funds LLC now owns 89,479 shares of the financial services provider's stock valued at $2,550,000 after purchasing an additional 369 shares in the last quarter. State Street Corp lifted its stake 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 buying an additional 1,526 shares during the period. Martingale Asset Management L P boosted its holdings in shares of Capital Bancorp by 10.1% during the third quarter. Martingale Asset Management L P now owns 27,369 shares of the financial services provider's stock worth $704,000 after purchasing an additional 2,511 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Capital Bancorp in the fourth quarter valued at $109,000. Finally, BNP Paribas Financial Markets increased its stake in Capital Bancorp by 317.1% in 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. Hedge funds and other institutional investors own 56.14% of the company's stock.

Capital Bancorp Price Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 1.02. The stock has a market capitalization of $510.38 million, a PE ratio of 13.23 and a beta of 0.51. The company has a 50-day moving average of $28.81 and a two-hundred day moving average of $26.41.

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.