Capital Bancorp (NASDAQ:CBNK) Sets New 1-Year High After Earnings Beat

Shares of Capital Bancorp, Inc. (NASDAQ:CBNK) reached a new 52-week high on Monday following a stronger than expected earnings report. The stock traded as high as $37.00 and last traded at $36.92, with a volume of 11759 shares traded. The stock had previously closed at $36.13.

The financial services provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. Capital Bancorp had a return on equity of 13.30% and a net margin of 17.47%.The business had revenue of $65.29 million for the quarter, compared to analyst estimates of $66.54 million.

Capital Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be issued a $0.14 dividend. The ex-dividend date is Monday, August 10th. This is a boost from Capital Bancorp’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. Capital Bancorp’s dividend payout ratio (DPR) is currently 14.12%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Capital Bancorp in a report on Tuesday, June 30th. Keefe, Bruyette & Woods upped their target price on shares of Capital Bancorp from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Capital Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Hedge Funds Weigh In On Capital Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of Capital Bancorp by 129.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 152,410 shares of the financial services provider’s stock valued at $5,118,000 after purchasing an additional 86,062 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Capital Bancorp by 104.1% during the first quarter. Sei Investments Co. now owns 167,222 shares of the financial services provider’s stock valued at $4,973,000 after purchasing an additional 85,293 shares in the last quarter. Kennedy Capital Management LLC boosted its stake in shares of Capital Bancorp by 28.6% during the third quarter. Kennedy Capital Management LLC now owns 261,712 shares of the financial services provider’s stock valued at $8,349,000 after purchasing an additional 58,232 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Capital Bancorp during the second quarter valued at approximately $1,833,000. Finally, Militia Capital Management LLC purchased a new position in Capital Bancorp during the first quarter valued at approximately $1,398,000. Institutional investors own 56.14% of the company’s stock.

Capital Bancorp Stock Performance

The business has a fifty day simple moving average of $34.06 and a two-hundred day simple moving average of $31.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $615.36 million, a PE ratio of 11.11 and a beta of 0.54.

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. 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.