Capital Bancorp (NASDAQ:CBNK) Reaches New 12-Month High – Time to Buy?

Capital Bancorp, Inc. (NASDAQ:CBNK) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $31.22 and last traded at $30.55, with a volume of 4596 shares. The stock had previously closed at $30.79.

Wall Street Analysts Forecast Growth

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

Capital Bancorp Price Performance

The company has a market capitalization of $475.38 million, a PE ratio of 12.32 and a beta of 0.50. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average is $27.47 and its 200-day moving average is $24.71.

Capital Bancorp (NASDAQ:CBNK) last posted its quarterly earnings data 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 firm had revenue of $59.25 million during the quarter. Capital Bancorp had a return on equity of 12.66% and a net margin of 14.49%. Equities analysts predict that Capital Bancorp, Inc. will post 2.37 earnings per share for the current fiscal year.

Capital Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Monday, November 4th. Capital Bancorp’s dividend payout ratio (DPR) is presently 17.17%.

Insider Buying and Selling at Capital Bancorp

In other news, CFO Dominic C. Canuso bought 1,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of $25.52 per share, for a total transaction of $25,520.00. Following the completion of the purchase, the chief financial officer now owns 2,000 shares in the company, valued at approximately $51,040. This represents a 100.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Steven M. Poynot purchased 2,000 shares of Capital Bancorp stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $25.36 per share, with a total value of $50,720.00. Following the transaction, the chief operating officer now directly owns 4,503 shares of the company’s stock, valued at $114,196.08. This represents a 79.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Capital Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its stake in shares of Capital Bancorp by 317.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,809 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 5,937 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Capital Bancorp in the third quarter worth $276,000. Barclays PLC raised its position in shares of Capital Bancorp by 297.3% during the 3rd quarter. Barclays PLC now owns 11,918 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 8,918 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Capital Bancorp during the 2nd quarter valued at $256,000. Finally, Squarepoint Ops LLC purchased a new stake in Capital Bancorp in the 2nd quarter worth $304,000. Hedge funds and other 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.