Capital Bancorp (NASDAQ:CBNK) Reaches New 12-Month High Following Dividend Announcement

Capital Bancorp, Inc. (NASDAQ:CBNK) shares reached a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as $34.00 and last traded at $33.92, with a volume of 8360 shares trading hands. The stock had previously closed at $32.48.

The newly announced dividend which will be paid on Wednesday, May 28th. Investors of record on Monday, May 12th will be issued a $0.10 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.40 annualized dividend and a yield of 1.20%. Capital Bancorp’s dividend payout ratio (DPR) is currently 16.13%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Hovde Group dropped their target price on Capital Bancorp from $36.00 to $34.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Keefe, Bruyette & Woods boosted their target price on Capital Bancorp from $33.00 to $35.00 and gave the stock a “market perform” rating in a research note on Monday.

Capital Bancorp Price Performance

The company has a 50 day moving average price of $28.70 and a 200 day moving average price of $29.03. The firm has a market cap of $555.18 million, a PE ratio of 15.65 and a beta of 0.70. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 1.02.

Capital Bancorp (NASDAQ:CBNK) last announced its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.21. Capital Bancorp had a return on equity of 14.89% and a net margin of 12.66%. The firm had revenue of $58.60 million for the quarter, compared to analyst estimates of $57.54 million. Sell-side analysts expect that Capital Bancorp, Inc. will post 3.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Picton Mahoney Asset Management grew its holdings in Capital Bancorp by 123.0% during the fourth quarter. Picton Mahoney Asset Management now owns 1,135 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 626 shares during the period. Federated Hermes Inc. grew its holdings in Capital Bancorp by 194.7% in 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 last quarter. SG Americas Securities LLC acquired a new stake in shares of Capital Bancorp during the fourth quarter valued at $109,000. Wells Fargo & Company MN boosted its stake 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 acquiring an additional 1,177 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Capital Bancorp during the fourth quarter valued at $219,000. Institutional investors and hedge funds own 56.14% of the company’s stock.

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.