Capital Bancorp (NASDAQ:CBNK) Shares Pass Above Two Hundred Day Moving Average After Earnings Miss

Key Points

• Capital Bancorp (NASDAQ:CBNK) shares rose above their 200-day moving average after reporting quarterly earnings of $0.85 EPS, which missed analysts' estimates of $0.89 by $0.04.
• The company declared a quarterly dividend of $0.10 per share, reflecting a 1.16% yield and a payout ratio of 16.13%.
• Analysts at Keefe, Bruyette & Woods have increased their price target for Capital Bancorp from $33.00 to $35.00, maintaining a "market perform" rating.

Capital Bancorp, Inc. (NASDAQ:CBNK - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday after the company announced better than expected quarterly earnings. The stock has a 200-day moving average of $30.90 and traded as high as $34.57. Capital Bancorp shares last traded at $34.39, with a volume of 38,786 shares changing hands.

The financial services provider reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $0.89 by ($0.04). Capital Bancorp had a return on equity of 15.04% and a net margin of 14.43%.

Capital Bancorp Announces Dividend

The company also recently declared 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. The ex-dividend date was Monday, May 12th. This represents a $0.40 annualized dividend and a yield of 1.16%. Capital Bancorp's payout ratio is 16.13%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, COO Steven M. Poynot purchased 750 shares of the 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 owned 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 32.50% of the stock is owned by insiders.

Institutional Trading of Capital Bancorp

Several large investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its stake in Capital Bancorp by 70.4% in the 4th quarter. Alliancebernstein L.P. now owns 614,473 shares of the financial services provider's stock valued at $17,512,000 after purchasing an additional 253,819 shares during the last quarter. Vanguard Group Inc. raised its holdings in Capital Bancorp by 14.4% in the 4th quarter. Vanguard Group Inc. now owns 558,300 shares of the financial services provider's stock valued at $15,912,000 after acquiring an additional 70,420 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Capital Bancorp by 6.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 263,623 shares of the financial services provider's stock worth $7,513,000 after purchasing an additional 16,957 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Capital Bancorp by 15.9% in the fourth 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. Finally, American Century Companies Inc. increased its holdings in shares of Capital Bancorp by 75.1% in the first quarter. American Century Companies Inc. now owns 149,662 shares of the financial services provider's stock valued at $4,240,000 after purchasing an additional 64,213 shares during the last quarter. Hedge funds and other institutional investors own 56.14% of the company's stock.

Capital Bancorp Stock Performance

The stock has a market cap of $572.94 million, a price-to-earnings ratio of 13.87 and a beta of 0.69. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.01. The firm has a fifty day moving average of $33.32 and a 200 day moving average of $30.90.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.