Capital Bancorp, Inc. (NASDAQ:CBNK) Sees Large Increase in Short Interest

Capital Bancorp, Inc. (NASDAQ:CBNK) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 279,900 shares, an increase of 9.2% from the August 15th total of 256,400 shares. Based on an average daily trading volume, of 25,000 shares, the short-interest ratio is currently 11.2 days. Approximately 3.1% of the shares of the company are short sold.

Analyst Ratings Changes

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 boosted their price objective on shares of Capital Bancorp from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th.

Insiders Place Their Bets

In other news, Director Mary Ann Scully acquired 2,000 shares of Capital Bancorp stock in a transaction on Wednesday, July 31st. The stock was bought at an average price of $25.14 per share, for a total transaction of $50,280.00. Following the transaction, the director now owns 13,536 shares of the company’s stock, valued at $340,295.04. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 32.50% of the company’s stock.

Hedge Funds Weigh In On Capital Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC grew its holdings in Capital Bancorp by 11.9% during the first quarter. Acadian Asset Management LLC now owns 55,567 shares of the financial services provider’s stock worth $1,155,000 after buying an additional 5,893 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Capital Bancorp in the first quarter worth $26,000. Wealthspire Advisors LLC bought a new stake in shares of Capital Bancorp in the second quarter valued at $1,577,000. Vanguard Group Inc. lifted its position in shares of Capital Bancorp by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 437,034 shares of the financial services provider’s stock valued at $9,103,000 after buying an additional 4,019 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of Capital Bancorp by 28.6% during the 4th quarter. New York State Common Retirement Fund now owns 3,185 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 708 shares during the period. Institutional investors and hedge funds own 56.14% of the company’s stock.

Capital Bancorp Stock Performance

Shares of Capital Bancorp stock traded up $0.17 on Tuesday, hitting $25.44. The stock had a trading volume of 21,184 shares, compared to its average volume of 22,685. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $24.24 and its two-hundred day moving average is $21.57. Capital Bancorp has a twelve month low of $18.56 and a twelve month high of $26.20. The stock has a market cap of $353.41 million, a price-to-earnings ratio of 10.92 and a beta of 0.47.

Capital Bancorp (NASDAQ:CBNK) last announced its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The firm had revenue of $57.51 million for the quarter, compared to analyst estimates of $42.70 million. Capital Bancorp had a return on equity of 13.34% and a net margin of 15.35%. Analysts forecast that Capital Bancorp will post 1.89 EPS for the current year.

Capital Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Monday, August 5th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Monday, August 5th. This is an increase from Capital Bancorp’s previous quarterly dividend of $0.08. Capital Bancorp’s dividend payout ratio is currently 17.09%.

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.