Capital Bancorp, Inc. (NASDAQ:CBNK) Sees Significant Increase in Short Interest

Capital Bancorp, Inc. (NASDAQ:CBNK) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 279,900 shares, a growth of 9.2% from the August 15th total of 256,400 shares. Approximately 3.1% of the company’s stock are short sold. Based on an average trading volume of 25,000 shares, the days-to-cover ratio is currently 11.2 days.

Capital Bancorp Price Performance

Capital Bancorp stock traded down $0.09 during trading on Wednesday, reaching $25.35. The company had a trading volume of 32,989 shares, compared to its average volume of 22,742. The firm has a market capitalization of $352.16 million, a PE ratio of 10.87 and a beta of 0.47. The firm’s 50-day simple moving average is $24.35 and its 200 day simple moving average is $21.61. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.00 and a current ratio of 1.01. Capital Bancorp has a 1-year low of $18.56 and a 1-year high of $26.20.

Capital Bancorp (NASDAQ:CBNK) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). Capital Bancorp had a return on equity of 13.34% and a net margin of 15.35%. The firm had revenue of $57.51 million for the quarter, compared to analysts’ expectations of $42.70 million. As a group, equities research analysts anticipate that Capital Bancorp will post 1.89 earnings per share for the current fiscal year.

Capital Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Monday, August 5th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Monday, August 5th. This is a boost from Capital Bancorp’s previous quarterly dividend of $0.08. Capital Bancorp’s dividend payout ratio is currently 17.09%.

Insider Activity at Capital Bancorp

In other Capital Bancorp news, Director Mary Ann Scully acquired 2,000 shares of Capital Bancorp stock in a transaction that occurred on Wednesday, July 31st. The stock was bought at an average price of $25.14 per share, with a total value of $50,280.00. Following the completion of the purchase, the director now directly owns 13,536 shares of the company’s stock, valued at approximately $340,295.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 32.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Capital Bancorp

A number of hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC acquired a new position in shares of Capital Bancorp during the 1st quarter worth approximately $26,000. New York State Common Retirement Fund boosted its stake in Capital Bancorp by 28.6% during the fourth quarter. New York State Common Retirement Fund now owns 3,185 shares of the financial services provider’s stock worth $77,000 after buying an additional 708 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Capital Bancorp by 80.9% in the 1st quarter. BNP Paribas Financial Markets now owns 4,942 shares of the financial services provider’s stock valued at $103,000 after buying an additional 2,210 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Capital Bancorp in the 2nd quarter worth $256,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Capital Bancorp by 4.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,200 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 575 shares during the period. Institutional investors and hedge funds own 56.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on CBNK shares. Hovde Group boosted their target price on shares of Capital Bancorp from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods raised their target price on Capital Bancorp from $25.00 to $27.00 and gave the stock a “market perform” rating in a report on Tuesday, July 23rd.

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.