Capital Bancorp (NASDAQ:CBNK) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

Capital Bancorp, Inc. (NASDAQ:CBNK - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $23.17 and traded as high as $29.11. Capital Bancorp shares last traded at $28.15, with a volume of 52,115 shares.

Wall Street Analysts Forecast Growth

CBNK has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their price target on shares of Capital Bancorp from $25.00 to $27.00 and gave the company a "market perform" rating in a report on Tuesday, July 23rd. Hovde Group lifted their price target on shares of Capital Bancorp from $26.00 to $28.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 24th.

Capital Bancorp Stock Performance

The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.05. The company's 50-day simple moving average is $25.55 and its 200-day simple moving average is $23.20. The stock has a market capitalization of $386.70 million, a price-to-earnings ratio of 11.93 and a beta of 0.47.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.02). The business had revenue of $59.25 million during the quarter. Capital Bancorp had a net margin of 14.49% and a return on equity of 12.90%. On average, analysts expect that Capital Bancorp, Inc. will post 2.37 EPS for the current year.

Capital Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, November 4th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Monday, November 4th. Capital Bancorp's dividend payout ratio is currently 17.17%.

Insider Activity

In related news, CFO Dominic C. Canuso acquired 1,000 shares of the company's stock in a transaction dated Monday, November 4th. The stock was purchased at an average price of $25.52 per share, with a total value of $25,520.00. Following the completion of the purchase, the chief financial officer now owns 2,000 shares in the company, valued at $51,040. This trade represents a 100.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Steven M. Poynot purchased 2,000 shares of the company's stock in a transaction that occurred on 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 purchase, the chief operating officer now directly owns 4,503 shares of the company's stock, valued at $114,196.08. This trade represents a 79.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 32.50% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Lazard Asset Management LLC purchased a new position in Capital Bancorp during the 1st quarter valued at $26,000. BNP Paribas Financial Markets increased its holdings in shares of Capital Bancorp by 80.9% in the first quarter. BNP Paribas Financial Markets now owns 4,942 shares of the financial services provider's stock valued at $103,000 after purchasing an additional 2,210 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Capital Bancorp in the third quarter worth about $276,000. Renaissance Technologies LLC purchased a new stake in shares of Capital Bancorp in the second quarter worth about $256,000. Finally, Janney Montgomery Scott LLC boosted its position in Capital Bancorp by 4.6% during the first quarter. Janney Montgomery Scott LLC now owns 13,200 shares of the financial services provider's stock worth $275,000 after purchasing an additional 575 shares in the last quarter. 56.14% of the stock is owned by hedge funds and other institutional investors.

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.