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

Capital Bancorp, Inc. (NASDAQ:CBNK) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Stockholders of record on Monday, February 10th will be paid a dividend of 0.10 per share by the financial services provider on Wednesday, February 26th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, February 10th.

Capital Bancorp has raised its dividend payment by an average of 53.3% per year over the last three years. Capital Bancorp has a dividend payout ratio of 11.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Capital Bancorp to earn $3.17 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 12.6%.

Capital Bancorp Stock Performance

Capital Bancorp stock opened at $30.82 on Wednesday. The firm has a market capitalization of $510.38 million, a P/E ratio of 13.23 and a beta of 0.51. The company’s 50-day moving average is $28.88 and its 200 day moving average is $26.47. Capital Bancorp has a 1-year low of $19.02 and a 1-year high of $31.89. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 1.02.

Capital Bancorp (NASDAQ:CBNK) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.92 EPS for the quarter, topping 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 EPS. Research analysts forecast that Capital Bancorp will post 2.37 EPS for the current year.

Insider Buying and Selling at Capital Bancorp

In related news, COO Steven M. Poynot acquired 2,000 shares of the stock in a transaction on Friday, November 1st. The shares were bought at an average price of $25.36 per share, with a total value of $50,720.00. Following the completion of the purchase, the chief operating officer now owns 4,503 shares of the company’s stock, valued at approximately $114,196.08. This represents a 79.90 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dominic C. Canuso purchased 1,000 shares of Capital Bancorp stock in a transaction dated Monday, November 4th. The shares were bought at an average price of $25.52 per share, for a total transaction of $25,520.00. Following the acquisition, the chief financial officer now owns 2,000 shares in the company, valued at approximately $51,040. This trade 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.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their price objective on shares of Capital Bancorp from $28.00 to $32.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

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.