Capital Bancorp (NASDAQ:CBNK) Hits New 52-Week High Following Analyst Upgrade

Capital Bancorp, Inc. (NASDAQ:CBNK - Get Free Report) shares hit a new 52-week high during trading on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $32.00 to $35.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Capital Bancorp traded as high as $32.47 and last traded at $32.17, with a volume of 157516 shares. The stock had previously closed at $32.08.

Insider Transactions at Capital Bancorp

In other news, Director Randall James Levitt sold 14,500 shares of Capital Bancorp 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 transaction, the director now directly owns 100,000 shares in the company, valued at approximately $3,230,000. The trade was a 12.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 32.50% of the stock is owned by corporate insiders.

Institutional Trading of Capital Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. Fourthstone LLC lifted its stake in shares of Capital Bancorp by 104.6% in the third quarter. Fourthstone LLC now owns 51,551 shares of the financial services provider's stock valued at $1,325,000 after buying an additional 26,358 shares during the period. Wedge Capital Management L L P NC raised its holdings in Capital Bancorp by 31.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 93,993 shares of the financial services provider's stock valued at $2,679,000 after acquiring an additional 22,381 shares in the last quarter. Salzhauer Michael bought a new stake in shares of Capital Bancorp in the 4th quarter worth approximately $490,000. Belvedere Trading LLC acquired a new stake in shares of Capital Bancorp during the 4th quarter worth approximately $399,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Capital Bancorp during the second quarter valued at approximately $256,000. Institutional investors own 56.14% of the company's stock.

Capital Bancorp Trading Down 0.9 %

The business has a 50-day moving average price of $29.41 and a 200-day moving average price of $26.95. 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 firm has a market capitalization of $528.60 million, a P/E ratio of 14.99 and a beta of 0.50.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 previous year, the business posted $0.65 earnings per share. Analysts anticipate that Capital Bancorp, Inc. will post 3.17 earnings per share for the current year.

Capital Bancorp Announces Dividend

The firm 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 dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Monday, February 10th. Capital Bancorp's dividend payout ratio is 18.78%.

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.