Capital Bancorp, Inc. to Issue Quarterly Dividend of $0.10 (NASDAQ:CBNK)

Capital Bancorp, Inc. (NASDAQ:CBNK) announced a quarterly dividend on Monday, October 28th, Wall Street Journal reports. Investors of record on Monday, November 4th will be given a dividend of 0.10 per share by the financial services provider on Wednesday, November 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Monday, November 4th.

Capital Bancorp has a dividend payout ratio of 12.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Capital Bancorp to earn $3.10 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 12.9%.

Capital Bancorp Price Performance

CBNK traded up $0.38 during trading on Wednesday, hitting $25.50. The company’s stock had a trading volume of 5,917 shares, compared to its average volume of 23,748. 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 stock has a market capitalization of $354.25 million, a price-to-earnings ratio of 10.74 and a beta of 0.47. The firm’s 50 day moving average price is $25.04 and its two-hundred day moving average price is $22.57. Capital Bancorp has a 12 month low of $19.02 and a 12 month high of $26.20.

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 business had revenue of $59.25 million during the quarter. Capital Bancorp had a net margin of 15.35% and a return on equity of 13.34%. Sell-side analysts forecast that Capital Bancorp will post 2.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.