Capital Bancorp, Inc. (NASDAQ:CBNK) Sees Large Growth in Short Interest

Capital Bancorp, Inc. (NASDAQ:CBNK - Get Free Report) saw a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 255,300 shares, an increase of 48.4% from the May 15th total of 172,000 shares. Based on an average trading volume of 60,000 shares, the short-interest ratio is presently 4.3 days. Currently, 2.2% of the shares of the company are short sold.

Capital Bancorp Stock Down 1.0%

Shares of NASDAQ CBNK traded down $0.32 during mid-day trading on Monday, reaching $31.25. 55,114 shares of the company were exchanged, compared to its average volume of 45,610. The firm has a 50-day moving average of $30.72 and a 200 day moving average of $29.83. Capital Bancorp has a 1 year low of $19.45 and a 1 year high of $34.31. 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 stock has a market cap of $520.53 million, a price-to-earnings ratio of 14.67 and a beta of 0.68.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.67 by $0.21. The firm had revenue of $58.60 million during the quarter, compared to analyst estimates of $57.54 million. Capital Bancorp had a net margin of 12.66% and a return on equity of 14.89%. On average, research analysts expect that Capital Bancorp will post 3.17 earnings per share for the current year.

Capital Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 12th were given a dividend of $0.10 per share. The ex-dividend date was Monday, May 12th. This represents a $0.40 annualized dividend and a yield of 1.28%. Capital Bancorp's dividend payout ratio is presently 16.13%.

Insider Activity

In related news, COO Steven M. Poynot acquired 750 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was acquired at an average price of $33.35 per share, with a total value of $25,012.50. Following the acquisition, the chief operating officer now directly owns 5,253 shares of the company's stock, valued at approximately $175,187.55. This trade represents a 16.66% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 31.59% of the company's stock.

Institutional Trading of Capital Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. increased its stake in Capital Bancorp by 91.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,537 shares of the financial services provider's stock worth $585,000 after buying an additional 9,798 shares in the last quarter. Northern Trust Corp increased its position in shares of Capital Bancorp by 12.9% during the fourth quarter. Northern Trust Corp now owns 89,869 shares of the financial services provider's stock worth $2,561,000 after purchasing an additional 10,245 shares in the last quarter. Barclays PLC increased its position in shares of Capital Bancorp by 27.6% during the fourth quarter. Barclays PLC now owns 15,208 shares of the financial services provider's stock worth $433,000 after purchasing an additional 3,290 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Capital Bancorp by 118.4% in the 4th quarter. JPMorgan Chase & Co. now owns 42,491 shares of the financial services provider's stock valued at $1,211,000 after purchasing an additional 23,033 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Capital Bancorp by 15.9% in the 4th quarter. Geode Capital Management LLC now owns 240,893 shares of the financial services provider's stock valued at $6,867,000 after purchasing an additional 33,009 shares in the last quarter. 56.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CBNK shares. Keefe, Bruyette & Woods upped their target price on shares of Capital Bancorp from $33.00 to $35.00 and gave the company a "market perform" rating in a research report on Monday, May 12th. Hovde Group lowered their price objective on Capital Bancorp from $36.00 to $34.00 and set an "outperform" rating for the company in a research note on Monday, March 17th.

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.

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