Shares of Capital Bancorp, Inc. (NASDAQ:CBNK - Get Free Report) reached a new 52-week high during trading on Monday after the company announced a dividend. The company traded as high as $34.00 and last traded at $33.92, with a volume of 8360 shares traded. The stock had previously closed at $32.48.
The newly announced dividend which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 12th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.22%. Capital Bancorp's payout ratio is currently 16.13%.
Analysts Set New Price Targets
A number of brokerages have issued reports on CBNK. Hovde Group decreased their target price on Capital Bancorp from $36.00 to $34.00 and set an "outperform" rating for the company in a research report on Monday, March 17th. Keefe, Bruyette & Woods upped their target price 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.
Get Our Latest Research Report on Capital Bancorp
Capital Bancorp Stock Performance
The stock has a market capitalization of $544.85 million, a P/E ratio of 15.36 and a beta of 0.70. The firm has a 50-day moving average of $28.99 and a 200 day moving average of $29.19. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.23.
Capital Bancorp (NASDAQ:CBNK - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.21. Capital Bancorp had a return on equity of 14.89% and a net margin of 12.66%. The company had revenue of $58.60 million during the quarter, compared to analysts' expectations of $57.54 million. Research analysts anticipate that Capital Bancorp, Inc. will post 3.17 EPS for the current fiscal year.
Insider Buying and Selling
In other news, COO Steven M. Poynot acquired 750 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was purchased at an average price of $33.35 per share, for a total transaction of $25,012.50. Following the completion of the acquisition, the chief operating officer now owns 5,253 shares in the company, valued at $175,187.55. This trade represents a 16.66% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 31.59% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the stock. Picton Mahoney Asset Management lifted its position in shares of Capital Bancorp by 123.0% in the fourth quarter. Picton Mahoney Asset Management now owns 1,135 shares of the financial services provider's stock worth $32,000 after purchasing an additional 626 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of 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 purchasing an additional 2,331 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Capital Bancorp in the fourth quarter worth $109,000. Wells Fargo & Company MN lifted its position in shares of 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 worth $154,000 after purchasing an additional 1,177 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of Capital Bancorp in the fourth quarter worth $219,000. Institutional investors own 56.14% of the company's stock.
About Capital Bancorp
(
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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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