Capital Bancorp, Inc. (NASDAQ:CBNK) Sees Significant Increase in Short Interest

Capital Bancorp, Inc. (NASDAQ:CBNK) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 611,257 shares, an increase of 14.0% from the March 31st total of 536,268 shares. Based on an average daily trading volume, of 82,895 shares, the short-interest ratio is currently 7.4 days. Approximately 5.6% of the shares of the company are sold short.

Institutional Investors Weigh In On Capital Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in CBNK. Arrowstreet Capital Limited Partnership boosted its position in shares of Capital Bancorp by 129.7% in the 2nd 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. Kennedy Capital Management LLC boosted its position in shares of Capital Bancorp by 28.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 261,712 shares of the financial services provider’s stock worth $8,349,000 after buying an additional 58,232 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Capital Bancorp in the 2nd quarter worth about $1,833,000. Militia Capital Partners LP purchased a new stake in shares of Capital Bancorp in the 4th quarter worth about $1,324,000. Finally, CenterBook Partners LP purchased a new stake in shares of Capital Bancorp in the 3rd quarter worth about $1,182,000. 56.14% of the stock is currently owned by hedge funds and other institutional investors.

Capital Bancorp Price Performance

Shares of NASDAQ CBNK opened at $31.49 on Friday. Capital Bancorp has a one year low of $26.40 and a one year high of $36.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.03. The company’s fifty day moving average is $30.27 and its two-hundred day moving average is $29.57. The firm has a market capitalization of $513.57 million, a P/E ratio of 9.51 and a beta of 0.59.

Capital Bancorp (NASDAQ:CBNK) last released its quarterly earnings data on Monday, April 27th. The financial services provider reported $0.73 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.05). Capital Bancorp had a return on equity of 13.62% and a net margin of 17.48%.The business had revenue of $62.77 million during the quarter, compared to analysts’ expectations of $62.41 million. Analysts forecast that Capital Bancorp will post 3.3 EPS for the current fiscal year.

Capital Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Monday, May 11th will be given a $0.12 dividend. The ex-dividend date is Monday, May 11th. This represents a $0.48 annualized dividend and a dividend yield of 1.5%. Capital Bancorp’s payout ratio is currently 14.50%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Weiss Ratings upgraded shares of Capital Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 4th. Keefe, Bruyette & Woods raised their price objective on shares of Capital Bancorp from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.33.

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. The company offers a range of deposit products, including checking and savings, time, interest bearing and noninterest-bearing demand, and money market accounts, as well as certificates of deposit; and credit cards.