Capital Bancorp (NASDAQ:CBNK) Sees Unusually-High Trading Volume – Here’s Why

Shares of Capital Bancorp, Inc. (NASDAQ:CBNK) saw an uptick in trading volume on Monday . 35,396 shares were traded during mid-day trading, a decline of 28% from the previous session’s volume of 49,359 shares.The stock last traded at $30.4850 and had previously closed at $31.15.

Analysts Set New Price Targets

CBNK has been the topic of several research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Capital Bancorp from $31.00 to $32.00 and gave the company a “market perform” rating in a report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Capital Bancorp in a research report on Monday, December 29th. Stephens cut their price target on Capital Bancorp from $40.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Zacks Research upgraded Capital Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Hovde Group dropped their price objective on Capital Bancorp from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $34.67.

Capital Bancorp Stock Down 4.1%

The company has a 50-day moving average of $30.00 and a 200-day moving average of $30.34. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $493.32 million, a price-to-earnings ratio of 8.78 and a beta of 0.66.

Capital Bancorp (NASDAQ:CBNK) last issued its quarterly earnings results on Monday, January 26th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. The business had revenue of $62.74 million for the quarter, compared to analyst estimates of $60.62 million. Capital Bancorp had a return on equity of 14.76% and a net margin of 18.44%. On average, equities analysts predict that Capital Bancorp, Inc. will post 3.17 earnings per share for the current fiscal year.

Capital Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Monday, February 9th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.6%. Capital Bancorp’s dividend payout ratio (DPR) is currently 14.12%.

Hedge Funds Weigh In On Capital Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBNK. Squarepoint Ops LLC increased its holdings in shares of Capital Bancorp by 80.9% in the second quarter. Squarepoint Ops LLC now owns 63,410 shares of the financial services provider’s stock valued at $2,129,000 after purchasing an additional 28,358 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Capital Bancorp by 16.7% during the second quarter. Geode Capital Management LLC now owns 282,690 shares of the financial services provider’s stock worth $9,495,000 after purchasing an additional 40,489 shares during the period. Kennedy Capital Management LLC boosted its position in Capital Bancorp by 21.5% in the second quarter. Kennedy Capital Management LLC now owns 203,480 shares of the financial services provider’s stock valued at $6,833,000 after buying an additional 35,976 shares during the last quarter. American Century Companies Inc. boosted its position in Capital Bancorp by 12.8% in the second quarter. American Century Companies Inc. now owns 168,797 shares of the financial services provider’s stock valued at $5,668,000 after buying an additional 19,135 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Capital Bancorp by 107.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 45,043 shares of the financial services provider’s stock worth $1,513,000 after buying an additional 23,379 shares during the period. Hedge funds and other institutional investors 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. 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.