Capital Bancorp (NASDAQ:CBNK) Sees Strong Trading Volume – Here’s What Happened

Capital Bancorp, Inc. (NASDAQ:CBNK) saw strong trading volume on Friday . 85,427 shares were traded during trading, an increase of 68% from the previous session’s volume of 50,837 shares.The stock last traded at $31.67 and had previously closed at $32.22.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their target price on shares of Capital Bancorp from $32.00 to $35.00 and gave the stock a “market perform” rating in a report on Friday, February 7th.

Capital Bancorp Price Performance

The business has a 50 day simple moving average of $29.75 and a two-hundred day simple moving average of $27.31. The firm has a market capitalization of $520.98 million, a P/E ratio of 14.77 and a beta of 0.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.02 and a current ratio of 1.03.

Capital Bancorp (NASDAQ:CBNK) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.26. Capital Bancorp had a net margin of 12.66% and a return on equity of 14.89%. During the same period in the prior year, the company earned $0.65 EPS. On average, sell-side analysts expect that Capital Bancorp, Inc. will post 3.17 EPS for the current fiscal year.

Capital Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Monday, February 10th will be given a $0.10 dividend. The ex-dividend date is Monday, February 10th. This represents a $0.40 annualized dividend and a yield of 1.27%. Capital Bancorp’s dividend payout ratio (DPR) is presently 18.78%.

Insider Activity at Capital Bancorp

In other Capital Bancorp news, Director Randall James Levitt sold 14,500 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $32.30, for a total transaction of $468,350.00. Following the transaction, the director now directly owns 100,000 shares in the company, valued at $3,230,000. This trade represents a 12.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 32.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Empowered Funds LLC grew its position in Capital Bancorp by 0.4% during the 4th quarter. Empowered Funds LLC now owns 89,479 shares of the financial services provider’s stock worth $2,550,000 after acquiring an additional 369 shares during the last quarter. Picton Mahoney Asset Management grew its holdings in shares of Capital Bancorp by 123.0% in the fourth quarter. Picton Mahoney Asset Management now owns 1,135 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 626 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Capital Bancorp by 5.9% in the fourth quarter. Rhumbline Advisers now owns 15,407 shares of the financial services provider’s stock worth $439,000 after buying an additional 854 shares during the period. Wealthspire Advisors LLC raised its holdings in Capital Bancorp by 1.5% during the 4th quarter. Wealthspire Advisors LLC now owns 78,172 shares of the financial services provider’s stock valued at $2,228,000 after buying an additional 1,130 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Capital Bancorp by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 5,400 shares of the financial services provider’s stock valued at $154,000 after buying an additional 1,177 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.