Capital Bancorp (NASDAQ:CBNK) Hits New 52-Week High – What’s Next?

Capital Bancorp, Inc. (NASDAQ:CBNK) hit a new 52-week high on Wednesday . The stock traded as high as $32.49 and last traded at $32.64, with a volume of 11391 shares trading hands. The stock had previously closed at $32.33.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised their price target on shares of Capital Bancorp from $32.00 to $35.00 and gave the company a “market perform” rating in a research report on Friday, February 7th.

Capital Bancorp Stock Performance

The firm has a market cap of $514.35 million, a P/E ratio of 14.58 and a beta of 0.50. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average is $29.76 and its two-hundred day moving average is $27.37.

Capital Bancorp (NASDAQ:CBNK) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.26. Capital Bancorp had a net margin of 12.66% and a return on equity of 14.89%. During the same period in the previous year, the business posted $0.65 EPS. As a group, equities analysts predict that Capital Bancorp, Inc. will post 3.17 EPS for the current fiscal year.

Capital Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, February 10th. This represents a $0.40 annualized dividend and a dividend yield of 1.29%. Capital Bancorp’s dividend payout ratio is currently 18.78%.

Insiders Place Their Bets

In other Capital Bancorp news, Director Randall James Levitt sold 14,500 shares of Capital Bancorp stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $32.30, for a total transaction of $468,350.00. Following the transaction, the director now owns 100,000 shares of the company’s stock, valued at $3,230,000. This trade represents a 12.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 32.50% of the company’s stock.

Hedge Funds Weigh In On Capital Bancorp

Hedge funds have recently modified their holdings of the company. Picton Mahoney Asset Management lifted its position in shares of Capital Bancorp by 123.0% during the 4th quarter. Picton Mahoney Asset Management now owns 1,135 shares of the financial services provider’s stock worth $32,000 after buying an additional 626 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Capital Bancorp by 194.7% during the 4th quarter. Federated Hermes Inc. now owns 3,528 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 2,331 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Capital Bancorp during the 4th quarter worth approximately $109,000. Wells Fargo & Company MN increased its stake in shares of Capital Bancorp by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 5,400 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 1,177 shares during the last quarter. Finally, Praetorian Wealth Management Inc. purchased a new stake in shares of Capital Bancorp during the 4th quarter worth approximately $205,000. Institutional investors own 56.14% of the company’s stock.

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.