Capital Bancorp (NASDAQ:CBNK) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Capital Bancorp (NASDAQ:CBNK) announced its quarterly earnings results on Monday. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.08, FiscalAI reports. Capital Bancorp had a net margin of 18.44% and a return on equity of 14.76%. The firm had revenue of $62.74 million during the quarter, compared to analysts’ expectations of $60.62 million.

Capital Bancorp Price Performance

CBNK opened at $30.00 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.02. Capital Bancorp has a 1 year low of $24.69 and a 1 year high of $36.40. The firm has a market cap of $495.60 million, a price-to-earnings ratio of 8.82 and a beta of 0.65. The stock’s 50 day simple moving average is $28.78 and its 200 day simple moving average is $30.59.

Capital Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, February 28th. Investors of record on Monday, February 9th will be issued a dividend of $0.12 per share. The ex-dividend date is Monday, February 9th. This represents a $0.48 annualized dividend and a yield of 1.6%. Capital Bancorp’s dividend payout ratio is currently 16.33%.

Analyst Ratings Changes

CBNK has been the subject of a number of recent analyst reports. Zacks Research upgraded Capital Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Hovde Group dropped their target price on shares of Capital Bancorp from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Keefe, Bruyette & Woods cut their price target on shares of Capital Bancorp from $33.00 to $31.00 and set a “market perform” rating on the stock in a report on Monday, November 10th. Stephens reduced their target price on shares of Capital Bancorp from $40.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Capital Bancorp in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $34.33.

Insiders Place Their Bets

In related news, CFO Dominic C. Canuso sold 3,400 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $27.95, for a total value of $95,030.00. Following the sale, the chief financial officer directly owned 1,434 shares of the company’s stock, valued at $40,080.30. This represents a 70.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 32.50% of the company’s stock.

Institutional Investors Weigh In On Capital Bancorp

Large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC purchased a new stake in shares of Capital Bancorp in the third quarter worth $29,000. Aquatic Capital Management LLC bought a new stake in shares of Capital Bancorp in the 3rd quarter worth about $61,000. Franklin Resources Inc. purchased a new position in shares of Capital Bancorp during the second quarter valued at approximately $201,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Capital Bancorp by 16.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,410 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 884 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Capital Bancorp by 1,198.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,491 shares of the financial services provider’s stock valued at $218,000 after buying an additional 5,991 shares in the last quarter. 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. 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.