Capital Bancorp (NASDAQ:CBNK) Hits New 12-Month High Following Dividend Announcement

Capital Bancorp, Inc. (NASDAQ:CBNK) shares hit a new 52-week high on Friday following a dividend announcement from the company. The stock traded as high as $32.47 and last traded at $32.17, with a volume of 157516 shares trading hands. The stock had previously closed at $32.08.

The newly announced dividend which will be paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.24%. Capital Bancorp’s dividend payout ratio is 18.78%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods boosted their price target on shares of Capital Bancorp from $32.00 to $35.00 and gave the stock a “market perform” rating in a research report on Friday.

Capital Bancorp Stock Up 0.6 %

The company has a market capitalization of $534.23 million, a P/E ratio of 15.15 and a beta of 0.50. The stock has a 50-day moving average price of $29.30 and a 200-day moving average price of $26.82. 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 announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.26. Capital Bancorp had a return on equity of 14.89% and a net margin of 12.66%. During the same period last year, the company earned $0.65 EPS. On average, research analysts predict that Capital Bancorp, Inc. will post 3.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CBNK. Empowered Funds LLC raised its position in shares of Capital Bancorp by 0.4% in the 4th quarter. Empowered Funds LLC now owns 89,479 shares of the financial services provider’s stock worth $2,550,000 after acquiring an additional 369 shares in the last quarter. Rhumbline Advisers boosted its stake in Capital Bancorp by 5.9% in the 4th quarter. Rhumbline Advisers now owns 15,407 shares of the financial services provider’s stock worth $439,000 after purchasing an additional 854 shares in the last quarter. Wealthspire Advisors LLC lifted its holdings in shares of Capital Bancorp by 1.5% during the 4th quarter. Wealthspire Advisors LLC now owns 78,172 shares of the financial services provider’s stock valued at $2,228,000 after buying an additional 1,130 shares during the period. State Street Corp lifted its stake in shares of Capital Bancorp by 0.9% in the 3rd quarter. State Street Corp now owns 175,639 shares of the financial services provider’s stock worth $4,516,000 after purchasing an additional 1,526 shares during the period. Finally, Martingale Asset Management L P boosted its stake in shares of Capital Bancorp by 10.1% during the 3rd quarter. Martingale Asset Management L P now owns 27,369 shares of the financial services provider’s stock worth $704,000 after acquiring an additional 2,511 shares during the last quarter. Institutional investors own 56.14% of the company’s stock.

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.