Capital Bancorp (NASDAQ:CBNK) Reaches New 52-Week High - Time to Buy?

Capital Bancorp, Inc. (NASDAQ:CBNK - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $34.84 and last traded at $34.53, with a volume of 54046 shares. The stock had previously closed at $33.58.

Wall Street Analysts Forecast Growth

CBNK has been the topic of a number of recent analyst reports. 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 note on Monday, May 12th. Hovde Group dropped their price target on shares of Capital Bancorp from $36.00 to $34.00 and set an "outperform" rating on the stock in a research report on Monday, March 17th.

Capital Bancorp Stock Up 2.3%

The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. The stock's 50-day simple moving average is $32.16 and its 200 day simple moving average is $30.08. The firm has a market cap of $591.57 million, a P/E ratio of 14.32 and a beta of 0.69.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last announced its earnings results 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 company had revenue of $58.60 million for 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%. As a group, research analysts forecast that Capital Bancorp, Inc. will post 3.17 EPS for the current fiscal year.

Capital Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 12th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Monday, May 12th. Capital Bancorp's dividend payout ratio (DPR) is 16.13%.

Insider Buying and Selling at Capital Bancorp

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

Institutional Investors Weigh In On Capital Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Picton Mahoney Asset Management grew its stake in shares of Capital Bancorp by 123.0% in the 4th quarter. Picton Mahoney Asset Management now owns 1,135 shares of the financial services provider's stock valued at $32,000 after buying an additional 626 shares during the period. Federated Hermes Inc. boosted its holdings in Capital Bancorp by 194.7% in the fourth quarter. Federated Hermes Inc. now owns 3,528 shares of the financial services provider's stock worth $101,000 after acquiring an additional 2,331 shares in the last quarter. Wells Fargo & Company MN grew its stake in Capital Bancorp by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 5,400 shares of the financial services provider's stock valued at $154,000 after acquiring an additional 1,177 shares during the period. Janus Henderson Group PLC acquired a new stake in Capital Bancorp in the fourth quarter valued at approximately $219,000. Finally, Corton Capital Inc. bought a new stake in shares of Capital Bancorp during the fourth quarter valued at approximately $247,000. 56.14% of the stock is owned by institutional investors.

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.