Capital Bancorp (NASDAQ:CBNK) Reaches New 52-Week High - Here's What Happened

Capital Bancorp, Inc. (NASDAQ:CBNK - Get Free Report) shares hit a new 52-week high during trading on Friday . The stock traded as high as $35.72 and last traded at $35.47, with a volume of 3432 shares traded. The stock had previously closed at $35.34.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their price objective on Capital Bancorp from $33.00 to $35.00 and gave the stock a "market perform" rating in a research report on Monday, May 12th.

Capital Bancorp Price Performance

The firm has a market capitalization of $584.27 million, a P/E ratio of 14.14 and a beta of 0.69. The business has a 50-day moving average of $33.08 and a 200 day moving average of $30.57. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.09.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.88 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 15.04% and a net margin of 14.43%. On average, sell-side analysts predict that Capital Bancorp, Inc. will post 3.17 earnings per share for the current fiscal year.

Capital Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 12th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.14%. The ex-dividend date was Monday, May 12th. Capital Bancorp's dividend payout ratio (DPR) is 16.13%.

Insider Activity

In related news, COO Steven M. Poynot bought 750 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were purchased at an average price of $33.35 per share, for a total transaction of $25,012.50. Following the completion of the transaction, the chief operating officer directly owned 5,253 shares in the company, valued at approximately $175,187.55. The trade was a 16.66% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 31.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Capital Bancorp

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Capital Bancorp by 17.5% during the fourth quarter. Bank of New York Mellon Corp now owns 61,699 shares of the financial services provider's stock valued at $1,758,000 after purchasing an additional 9,173 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Capital Bancorp by 10.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,845 shares of the financial services provider's stock worth $794,000 after purchasing an additional 2,604 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Capital Bancorp by 91.2% in 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. American Century Companies Inc. grew its position in shares of Capital Bancorp by 79.1% during the fourth quarter. American Century Companies Inc. now owns 85,449 shares of the financial services provider's stock valued at $2,435,000 after purchasing an additional 37,746 shares in the last quarter. Finally, Harbor Advisors LLC purchased a new position in Capital Bancorp in the fourth quarter worth about $328,000. Hedge funds and other institutional investors own 56.14% of the company's stock.

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.