Capital Bancorp (NASDAQ:CBNK) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Capital Bancorp's stock recently surpassed its 200-day moving average, reaching a high of $33.54, with the last traded price at $33.45.
• The company reported earnings per share of $0.85, missing analysts' estimates, along with a recent increase in its quarterly dividend from $0.10 to $0.12 per share.
• Analysts have mixed ratings on Capital Bancorp, with target prices ranging from $35.00 to $39.00, indicating a consensus rating of "Moderate Buy."

Capital Bancorp, Inc. (NASDAQ:CBNK - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $31.52 and traded as high as $33.54. Capital Bancorp shares last traded at $33.45, with a volume of 66,782 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CBNK shares. Hovde Group lifted their target price on shares of Capital Bancorp from $35.00 to $39.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Wall Street Zen lowered shares of Capital Bancorp from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Capital Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

Capital Bancorp Stock Performance

The stock has a market capitalization of $554.60 million, a PE ratio of 12.53 and a beta of 0.74. The firm's fifty day moving average price is $33.44 and its two-hundred day moving average price is $31.52. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.09.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.89 by ($0.04). The company had revenue of $60.75 million for the quarter, compared to analyst estimates of $61.29 million. Capital Bancorp had a return on equity of 15.54% and a net margin of 15.14%. As a group, equities research analysts forecast that Capital Bancorp, Inc. will post 3.17 EPS for the current year.

Capital Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Monday, August 11th were given a dividend of $0.12 per share. This is a boost from Capital Bancorp's previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Monday, August 11th. Capital Bancorp's dividend payout ratio (DPR) is currently 17.98%.

Insiders Place Their Bets

In other Capital Bancorp news, Director Randall James Levitt sold 37,338 shares of the company's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $34.37, for a total transaction of $1,283,307.06. Following the completion of the transaction, the director directly owned 60,000 shares in the company, valued at approximately $2,062,200. This represents a 38.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 31.59% of the company's stock.

Hedge Funds Weigh In On Capital Bancorp

A number of large investors have recently added to or reduced their stakes in CBNK. Hotchkis & Wiley Capital Management LLC acquired a new position in Capital Bancorp during the first quarter worth $2,816,000. Invesco Ltd. acquired a new stake in shares of Capital Bancorp in the first quarter valued at about $2,494,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Capital Bancorp by 129.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 152,410 shares of the financial services provider's stock worth $5,118,000 after buying an additional 86,062 shares in the last quarter. Seizert Capital Partners LLC purchased a new position in shares of Capital Bancorp in the first quarter worth about $1,840,000. Finally, American Century Companies Inc. lifted its stake 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 worth $4,240,000 after buying an additional 64,213 shares in the last quarter. 56.14% of the stock is currently owned by institutional investors and hedge funds.

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.

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.