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

Capital Bancorp, Inc. (NASDAQ:CBNK) saw an uptick in trading volume on Friday . 25,049 shares were traded during mid-day trading, a decline of 8% from the previous session’s volume of 27,275 shares.The stock last traded at $30.22 and had previously closed at $30.62.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price target on shares of Capital Bancorp from $28.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Capital Bancorp Stock Up 0.1 %

The company has a market cap of $507.73 million, a PE ratio of 13.16 and a beta of 0.50. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. The firm’s fifty day simple moving average is $27.24 and its 200-day simple moving average is $24.53.

Capital Bancorp (NASDAQ:CBNK) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). The firm had revenue of $59.25 million during the quarter. Capital Bancorp had a net margin of 14.49% and a return on equity of 12.66%. As a group, equities research analysts expect that Capital Bancorp, Inc. will post 2.37 earnings per share for the current fiscal year.

Capital Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Monday, November 4th. Capital Bancorp’s dividend payout ratio is presently 17.17%.

Insider Activity

In related news, CFO Dominic C. Canuso purchased 1,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were bought at an average price of $25.52 per share, with a total value of $25,520.00. Following the completion of the purchase, the chief financial officer now directly owns 2,000 shares in the company, valued at approximately $51,040. This trade represents a 100.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Steven M. Poynot purchased 2,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $25.36 per share, for a total transaction of $50,720.00. Following the purchase, the chief operating officer now owns 4,503 shares of the company’s stock, valued at $114,196.08. This trade represents a 79.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 32.50% of the company’s stock.

Hedge Funds Weigh In On Capital Bancorp

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its stake in Capital Bancorp by 317.1% during the third quarter. BNP Paribas Financial Markets now owns 7,809 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 5,937 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Capital Bancorp during the third quarter worth approximately $276,000. Barclays PLC raised its stake in Capital Bancorp by 297.3% during the third quarter. Barclays PLC now owns 11,918 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 8,918 shares during the period. Renaissance Technologies LLC purchased a new position in Capital Bancorp during the second quarter worth approximately $256,000. Finally, Squarepoint Ops LLC purchased a new position in Capital Bancorp during the second quarter worth approximately $304,000. Hedge funds and other institutional investors 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.