Capital Bancorp (NASDAQ:CBNK) Reaches New 52-Week High – What’s Next?

Shares of Capital Bancorp, Inc. (NASDAQ:CBNK) reached a new 52-week high on Wednesday . The company traded as high as $32.49 and last traded at $32.64, with a volume of 11391 shares trading hands. The stock had previously closed at $32.33.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upped their price objective on Capital Bancorp from $32.00 to $35.00 and gave the stock a “market perform” rating in a research note on Friday, February 7th.

Capital Bancorp Trading Up 0.1 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.02 and a current ratio of 1.03. The business’s 50-day moving average price is $29.65 and its 200 day moving average price is $27.19. The company has a market cap of $535.88 million, a P/E ratio of 15.19 and a beta of 0.50.

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 analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.65 earnings per share. As a group, analysts expect that Capital Bancorp, Inc. will post 3.17 earnings per share for the current year.

Capital Bancorp Announces Dividend

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

Insider Buying and Selling at Capital Bancorp

In other Capital Bancorp news, Director Randall James Levitt sold 14,500 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $32.30, for a total transaction of $468,350.00. Following the completion of the sale, the director now directly owns 100,000 shares in the company, valued at $3,230,000. This trade represents a 12.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 32.50% of the company’s stock.

Hedge Funds Weigh In On Capital Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. lifted its holdings in Capital Bancorp by 70.4% during the 4th quarter. Alliancebernstein L.P. now owns 614,473 shares of the financial services provider’s stock worth $17,512,000 after purchasing an additional 253,819 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Capital Bancorp by 14.4% in the fourth quarter. Vanguard Group Inc. now owns 558,300 shares of the financial services provider’s stock valued at $15,912,000 after acquiring an additional 70,420 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Capital Bancorp by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 263,623 shares of the financial services provider’s stock valued at $7,513,000 after acquiring an additional 16,957 shares in the last quarter. Geode Capital Management LLC increased its position in Capital Bancorp by 15.9% during the fourth quarter. Geode Capital Management LLC now owns 240,893 shares of the financial services provider’s stock worth $6,867,000 after acquiring an additional 33,009 shares during the period. Finally, State Street Corp increased its position in Capital Bancorp by 0.9% during the third quarter. State Street Corp now owns 175,639 shares of the financial services provider’s stock worth $4,516,000 after acquiring an additional 1,526 shares during the period. Institutional investors and hedge funds 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.