Capital Bancorp (NASDAQ:CBNK) Shares Up 3.2% After Dividend Announcement

Capital Bancorp, Inc. (NASDAQ:CBNK)’s share price shot up 3.2% on Wednesday following a dividend announcement from the company. The company traded as high as $31.06 and last traded at $31.24. 6,511 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 38,492 shares. The stock had previously closed at $30.27.

The newly announced dividend which will be paid on Wednesday, May 28th. Stockholders of record on Monday, May 12th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Monday, May 12th. Capital Bancorp’s dividend payout ratio (DPR) is 16.13%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CBNK. Hovde Group decreased their price target on shares of Capital Bancorp from $36.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, March 17th. Keefe, Bruyette & Woods boosted their price target on shares of Capital Bancorp from $32.00 to $35.00 and gave the company a “market perform” rating in a report on Friday, February 7th.

Capital Bancorp Stock Down 1.7 %

The company has a market cap of $517.37 million, a price-to-earnings ratio of 14.58 and a beta of 0.52. The firm’s fifty day moving average price is $28.32 and its 200-day moving average price is $28.60. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23.

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

Insider Activity at Capital Bancorp

In other Capital Bancorp news, Director Randall James Levitt sold 14,500 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.30, for a total transaction of $468,350.00. Following the sale, the director now directly owns 100,000 shares of the company’s stock, valued at $3,230,000. The trade was a 12.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 31.59% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Capital Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Picton Mahoney Asset Management lifted its position in 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. lifted its position in 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 buying an additional 2,331 shares in the last quarter. SG Americas Securities LLC bought a new stake in Capital Bancorp during the 4th quarter worth about $109,000. Wells Fargo & Company MN raised its holdings in shares of Capital Bancorp by 27.9% in the 4th 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. Finally, Praetorian Wealth Management Inc. bought a new stake in shares of Capital Bancorp in the 4th quarter valued at about $205,000. 56.14% of the stock is 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.