Capital Bancorp (NASDAQ:CBNK) Hits New 1-Year High Following Dividend Announcement

Capital Bancorp, Inc. (NASDAQ:CBNK)’s stock price hit a new 52-week high during 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 changing hands. The stock had previously closed at $32.48.

The newly announced dividend which will be paid on Wednesday, May 28th. Stockholders of record on Monday, May 12th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.20%. Capital Bancorp’s dividend payout ratio is presently 16.13%.

Analyst Ratings Changes

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

Capital Bancorp Stock Performance

The firm has a fifty day moving average price of $28.70 and a 200 day moving average price of $29.03. The firm has a market capitalization 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 released its quarterly earnings results on Monday, April 28th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.21. Capital Bancorp had a net margin of 12.66% and a return on equity of 14.89%. The business had revenue of $58.60 million for the quarter, compared to analyst estimates of $57.54 million. Research analysts anticipate that Capital Bancorp, Inc. will post 3.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Capital Bancorp

A number of large investors have recently made changes to their positions in CBNK. Picton Mahoney Asset Management increased its stake in Capital Bancorp by 123.0% in the 4th quarter. Picton Mahoney Asset Management now owns 1,135 shares of the financial services provider’s stock valued at $32,000 after buying an additional 626 shares during the period. Federated Hermes Inc. grew its holdings 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 valued at $101,000 after acquiring an additional 2,331 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Capital Bancorp in the fourth quarter worth $109,000. Wells Fargo & Company MN raised its holdings 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 worth $154,000 after acquiring an additional 1,177 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new position in Capital Bancorp in the fourth quarter valued at about $219,000. Institutional investors and hedge funds 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.