Dominic C. Canuso Purchases 600 Shares of Capital Bancorp, Inc. (NASDAQ:CBNK) Stock

Key Points

• Dominic C. Canuso, EVP of Capital Bancorp, purchased 600 shares at an average cost of $31.11, increasing his total ownership to 4,834 shares valued at approximately $150,385.74.
• Capital Bancorp's stock is currently trading at $31.48, with a market capitalization of $524.46 million and a P/E ratio of 11.79.
• The company recently increased its quarterly dividend from $0.10 to $0.12 per share, resulting in a yield of 1.5% for investors.

Capital Bancorp, Inc. (NASDAQ:CBNK - Get Free Report) EVP Dominic C. Canuso purchased 600 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average cost of $31.11 per share, for a total transaction of $18,666.00. Following the completion of the transaction, the executive vice president directly owned 4,834 shares of the company's stock, valued at $150,385.74. This trade represents a 14.17% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Capital Bancorp Stock Down 0.4%

CBNK stock traded down $0.14 during mid-day trading on Thursday, hitting $31.48. The stock had a trading volume of 120,339 shares, compared to its average volume of 61,427. The stock has a market capitalization of $524.46 million, a price-to-earnings ratio of 11.79 and a beta of 0.69. The company has a fifty day moving average of $33.28 and a 200 day moving average of $30.91. Capital Bancorp, Inc. has a 1-year low of $22.68 and a 1-year high of $36.40. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.09.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.04). The company had revenue of $60.75 million for the quarter, compared to the consensus estimate of $61.29 million. Capital Bancorp had a return on equity of 16.06% and a net margin of 15.14%. On average, equities analysts expect that Capital Bancorp, Inc. will post 3.17 EPS for the current fiscal year.

Capital Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Monday, August 11th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, August 11th. This is a positive change from Capital Bancorp's previous quarterly dividend of $0.10. Capital Bancorp's dividend payout ratio is currently 14.98%.

Institutional Trading of Capital Bancorp

Hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its position in shares of Capital Bancorp by 79.1% in the 4th quarter. American Century Companies Inc. now owns 85,449 shares of the financial services provider's stock worth $2,435,000 after acquiring an additional 37,746 shares during the period. Vanguard Group Inc. lifted its position in shares of Capital Bancorp by 14.4% in the 4th quarter. Vanguard Group Inc. now owns 558,300 shares of the financial services provider's stock worth $15,912,000 after acquiring an additional 70,420 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Capital Bancorp by 118.4% in the 4th quarter. JPMorgan Chase & Co. now owns 42,491 shares of the financial services provider's stock worth $1,211,000 after acquiring an additional 23,033 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Capital Bancorp by 6.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 66,348 shares of the financial services provider's stock worth $1,891,000 after acquiring an additional 3,949 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Capital Bancorp by 70.4% in the 4th quarter. Alliancebernstein L.P. now owns 614,473 shares of the financial services provider's stock worth $17,512,000 after acquiring an additional 253,819 shares during the period. Institutional investors own 56.14% of the company's stock.

Analysts Set New Price Targets

CBNK has been the topic of several recent analyst reports. Hovde Group upped their price target on Capital Bancorp from $35.00 to $39.00 and gave the company an "outperform" rating in a research report on Tuesday. 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.

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.

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