Capital Bancorp (NASDAQ:CBNK) Hits New 1-Year High Following Dividend Announcement

Capital Bancorp, Inc. (NASDAQ:CBNK) reached a new 52-week high during trading on Friday following a dividend announcement from the company. The company traded as high as $32.47 and last traded at $32.17, with a volume of 157516 shares traded. The stock had previously closed at $32.08.

The newly announced dividend which will be paid on Wednesday, February 26th. Stockholders 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 dividend yield of 1.24%. Capital Bancorp’s payout ratio is 18.78%.

Wall Street Analyst Weigh In

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

Capital Bancorp Trading Up 0.4 %

The stock has a market capitalization of $533.56 million, a price-to-earnings ratio of 15.13 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. The company’s 50 day moving average is $29.30 and its 200 day moving average is $26.82.

Capital Bancorp (NASDAQ:CBNK) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the firm posted $0.65 EPS. On average, research analysts forecast that Capital Bancorp, Inc. will post 3.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Capital Bancorp

Several institutional investors and hedge funds have recently modified their holdings of CBNK. Renaissance Technologies LLC bought a new stake in Capital Bancorp during the second quarter worth about $256,000. Squarepoint Ops LLC acquired a new position in Capital Bancorp during the second quarter worth about $304,000. Empowered Funds LLC raised its stake in Capital Bancorp by 5.2% during the third quarter. Empowered Funds LLC now owns 89,110 shares of the financial services provider’s stock worth $2,291,000 after acquiring an additional 4,422 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Capital Bancorp during the third quarter worth about $276,000. Finally, 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 acquiring an additional 5,937 shares in the last quarter. 56.14% of the stock is currently owned by institutional investors and hedge funds.

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.