Key Points
- CFO Dominic Canuso sold 3,400 shares on November 12 at an average price of $27.95 for a total of $95,030, reducing his direct stake by 70.34% to 1,434 shares.
- Capital Bancorp reported quarterly EPS of $0.70 on $21.01 million in revenue and announced a $0.12 quarterly dividend (annualized $0.48, ~1.7% yield; DPR 16.33%) payable November 26.
- The stock traded around $27.66 (down 0.1%), with a market cap of about $457 million and a P/E of 9.41; analysts' consensus is a Hold with a $34.33 target after mixed rating changes.
Capital Bancorp, Inc. (NASDAQ:CBNK - Get Free Report) CFO Dominic Canuso sold 3,400 shares of the business's stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $27.95, for a total value of $95,030.00. Following the completion of the sale, the chief financial officer directly owned 1,434 shares in the company, valued at approximately $40,080.30. This represents a 70.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Capital Bancorp Trading Down 0.1%
NASDAQ:CBNK traded down $0.04 on Friday, hitting $27.66. 16,823 shares of the stock were exchanged, compared to its average volume of 57,684. Capital Bancorp, Inc. has a 52 week low of $24.69 and a 52 week high of $36.40. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.01 and a current ratio of 1.02. The stock has a market capitalization of $456.97 million, a price-to-earnings ratio of 9.41 and a beta of 0.72. The company's 50-day moving average price is $30.41 and its 200 day moving average price is $32.05.
Capital Bancorp (NASDAQ:CBNK - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The financial services provider reported $0.70 EPS for the quarter. Capital Bancorp had a return on equity of 15.40% and a net margin of 16.41%.The business had revenue of $21.01 million during the quarter. On average, equities research analysts forecast that Capital Bancorp, Inc. will post 3.17 earnings per share for the current year.
Capital Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 10th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, November 10th. Capital Bancorp's dividend payout ratio (DPR) is currently 16.33%.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of CBNK. Police & Firemen s Retirement System of New Jersey increased its holdings in Capital Bancorp by 46.1% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 2,701 shares of the financial services provider's stock worth $91,000 after acquiring an additional 852 shares in the last quarter. Federated Hermes Inc. grew its stake in Capital Bancorp by 12.7% during the 1st quarter. Federated Hermes Inc. now owns 3,977 shares of the financial services provider's stock valued at $113,000 after purchasing an additional 449 shares during the last quarter. Franklin Resources Inc. purchased a new position in Capital Bancorp during the second quarter valued at approximately $201,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Capital Bancorp in the second quarter valued at approximately $209,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Capital Bancorp by 16.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,410 shares of the financial services provider's stock valued at $215,000 after purchasing an additional 884 shares during the last quarter. Hedge funds and other institutional investors own 56.14% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on CBNK shares. Hovde Group lowered their price target on shares of Capital Bancorp from $36.00 to $35.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 29th. Stephens dropped their price objective on shares of Capital Bancorp from $40.00 to $37.00 and set an "overweight" rating for the company in a research note on Thursday, October 30th. Zacks Research lowered Capital Bancorp from a "hold" rating to a "strong sell" rating in a research note on Friday, October 31st. Keefe, Bruyette & Woods dropped their target price on Capital Bancorp from $33.00 to $31.00 and set a "market perform" rating for the company in a research report on Monday. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Capital Bancorp in a report on Tuesday, October 14th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Capital Bancorp currently has a consensus rating of "Hold" and a consensus target price of $34.33.
Read Our Latest Analysis on Capital Bancorp
Capital Bancorp Company Profile
(
Get Free Report)
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.
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