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

Capital Bancorp, Inc. (NASDAQ:CBNK - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $35.53 and last traded at $35.43, with a volume of 2506 shares. The stock had previously closed at $35.53.

Wall Street Analyst Weigh In

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

Capital Bancorp Trading Up 0.3%

The business has a 50 day moving average of $32.62 and a two-hundred day moving average of $30.25. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.09. The firm has a market cap of $589.10 million, a P/E ratio of 14.26 and a beta of 0.69.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The financial services provider reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.21. Capital Bancorp had a return on equity of 15.04% and a net margin of 14.43%. The business had revenue of $58.60 million for the quarter, compared to analysts' expectations of $57.54 million. Analysts predict that Capital Bancorp, Inc. will post 3.17 earnings per share for the current year.

Capital Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 12th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, May 12th. Capital Bancorp's dividend payout ratio is currently 16.13%.

Insider Buying and Selling at Capital Bancorp

In other news, COO Steven M. Poynot bought 750 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was bought at an average price of $33.35 per share, with a total value of $25,012.50. Following the completion of the acquisition, the chief operating officer owned 5,253 shares of the company's stock, valued at $175,187.55. This represents a 16.66% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 31.59% of the company's stock.

Institutional Investors Weigh In On Capital Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of CBNK. Alliancebernstein L.P. lifted its holdings in shares of Capital Bancorp by 70.4% during the fourth quarter. Alliancebernstein L.P. now owns 614,473 shares of the financial services provider's stock worth $17,512,000 after buying an additional 253,819 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Capital Bancorp in the first quarter worth $2,816,000. Kennedy Capital Management LLC increased its position in shares of Capital Bancorp by 213.3% in the fourth quarter. Kennedy Capital Management LLC now owns 142,846 shares of the financial services provider's stock worth $4,071,000 after purchasing an additional 97,258 shares during the period. Invesco Ltd. bought a new position in shares of Capital Bancorp in the first quarter worth $2,494,000. Finally, Fourthstone LLC increased its position in shares of Capital Bancorp by 138.9% in the fourth quarter. Fourthstone LLC now owns 123,178 shares of the financial services provider's stock worth $3,511,000 after purchasing an additional 71,627 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.