Capital Bancorp, Inc. (NASDAQ:CBNK) EVP Dominic C. Canuso Buys 600 Shares

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 acquired 600 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average price 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 in the company, valued at approximately $150,385.74. This represents a 14.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Capital Bancorp Stock Up 1.2%

Shares of Capital Bancorp stock traded up $0.36 on Monday, hitting $31.27. 22,600 shares of the company's stock traded hands, compared to its average volume of 61,289. The stock has a market cap of $520.96 million, a P/E ratio of 11.71 and a beta of 0.70. 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 firm's 50-day moving average is $33.21 and its 200 day moving average is $31.00. Capital Bancorp, Inc. has a 52-week low of $22.68 and a 52-week high of $36.40.

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

Capital Bancorp Increases Dividend

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

Analyst Ratings Changes

CBNK has been the subject of a number of research analyst reports. Hovde Group increased their target price on shares of Capital Bancorp from $35.00 to $39.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods increased their price objective on shares of Capital Bancorp from $33.00 to $35.00 and gave the company a "market perform" rating in a research report on Monday, May 12th. Finally, Wall Street Zen downgraded shares of Capital Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday.

Hedge Funds Weigh In On Capital Bancorp

Several large investors have recently added to or reduced their stakes in CBNK. Federated Hermes Inc. increased its holdings in shares of Capital Bancorp by 194.7% during the fourth quarter. Federated Hermes Inc. now owns 3,528 shares of the financial services provider's stock valued at $101,000 after purchasing an additional 2,331 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Capital Bancorp by 27.9% during the fourth quarter. Wells Fargo & Company MN now owns 5,400 shares of the financial services provider's stock valued at $154,000 after purchasing an additional 1,177 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Capital Bancorp during the second quarter valued at $209,000. Janus Henderson Group PLC acquired a new position in shares of Capital Bancorp during the fourth quarter valued at $219,000. Finally, Corton Capital Inc. acquired a new position in shares of Capital Bancorp during the fourth quarter valued at $247,000. 56.14% of the stock is currently 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.