Capital Bancorp, Inc. (NASDAQ:CBNK) Short Interest Up 50.1% in December

Capital Bancorp, Inc. (NASDAQ:CBNK) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 98,600 shares, a growth of 50.1% from the December 15th total of 65,700 shares. Based on an average daily trading volume, of 50,200 shares, the days-to-cover ratio is presently 2.0 days. Approximately 0.9% of the shares of the company are short sold.

Insiders Place Their Bets

In other Capital Bancorp news, CFO Dominic C. Canuso acquired 1,000 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of $25.52 per share, for a total transaction of $25,520.00. Following the completion of the purchase, the chief financial officer now directly owns 2,000 shares of the company’s stock, valued at $51,040. The trade was a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Steven M. Poynot bought 2,000 shares of Capital Bancorp stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average cost of $25.36 per share, with a total value of $50,720.00. Following the acquisition, the chief operating officer now owns 4,503 shares of the company’s stock, valued at $114,196.08. The trade was a 79.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.50% of the stock is currently owned by insiders.

Institutional Trading of Capital Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in CBNK. State Street Corp lifted its position in shares of Capital Bancorp by 0.9% during the 3rd quarter. State Street Corp now owns 175,639 shares of the financial services provider’s stock valued at $4,516,000 after buying an additional 1,526 shares in the last quarter. Martingale Asset Management L P raised its position in Capital Bancorp by 10.1% during the third quarter. Martingale Asset Management L P now owns 27,369 shares of the financial services provider’s stock worth $704,000 after acquiring an additional 2,511 shares during the period. Bank of New York Mellon Corp lifted its holdings in Capital Bancorp by 6.0% during the second quarter. Bank of New York Mellon Corp now owns 59,111 shares of the financial services provider’s stock valued at $1,212,000 after purchasing an additional 3,331 shares in the last quarter. Empowered Funds LLC grew its position in shares of Capital Bancorp by 5.2% in the third quarter. Empowered Funds LLC now owns 89,110 shares of the financial services provider’s stock valued at $2,291,000 after purchasing an additional 4,422 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Capital Bancorp by 317.1% in the third quarter. BNP Paribas Financial Markets now owns 7,809 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 5,937 shares during the period. 56.14% of the stock is currently owned by hedge funds and other institutional investors.

Capital Bancorp Stock Performance

NASDAQ CBNK traded up $0.82 during mid-day trading on Wednesday, reaching $28.25. 39,466 shares of the stock were exchanged, compared to its average volume of 50,174. The company has a market capitalization of $467.76 million, a P/E ratio of 12.12 and a beta of 0.51. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.02 and a current ratio of 1.03. The business’s 50 day moving average is $28.68 and its 200-day moving average is $25.88. Capital Bancorp has a 1 year low of $19.02 and a 1 year high of $31.22.

Capital Bancorp (NASDAQ:CBNK) last issued 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). Capital Bancorp had a return on equity of 12.66% and a net margin of 14.49%. The firm had revenue of $59.25 million during the quarter. On average, equities research analysts forecast that Capital Bancorp will post 2.37 EPS for the current fiscal year.

Capital Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Monday, November 4th. Capital Bancorp’s payout ratio is currently 17.17%.

Analyst Ratings Changes

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

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.