Capital Bancorp (NASDAQ:CBNK) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Capital Bancorp, Inc. (NASDAQ:CBNK)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $25.01 and traded as high as $29.02. Capital Bancorp shares last traded at $29.02, with a volume of 16,850 shares traded.

Analyst Upgrades and Downgrades

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

Capital Bancorp Stock Down 0.2 %

The firm has a 50 day moving average of $27.86 and a two-hundred day moving average of $25.01. The stock has a market capitalization of $479.69 million, a PE ratio of 12.43 and a beta of 0.50. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23.

Capital Bancorp (NASDAQ:CBNK) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter. Equities research analysts anticipate that Capital Bancorp, Inc. will post 2.37 earnings per share for the current year.

Capital Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, November 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.38%. Capital Bancorp’s dividend payout ratio is currently 17.17%.

Insider Transactions at Capital Bancorp

In related news, COO Steven M. Poynot bought 2,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $25.36 per share, for a total transaction of $50,720.00. Following the completion of the acquisition, the chief operating officer now owns 4,503 shares in the company, valued at $114,196.08. This trade represents a 79.90 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 cost of $25.52 per share, for a total transaction of $25,520.00. Following the purchase, the chief financial officer now owns 2,000 shares of the company’s stock, valued at $51,040. This trade represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 32.50% of the company’s stock.

Institutional Trading of Capital Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in CBNK. Kendall Capital Management purchased a new stake in Capital Bancorp during the second quarter valued at about $1,664,000. Wealthspire Advisors LLC purchased a new stake in shares of Capital Bancorp during the 2nd quarter worth about $1,577,000. Fourthstone LLC raised its holdings in Capital Bancorp by 104.6% in the third quarter. Fourthstone LLC now owns 51,551 shares of the financial services provider’s stock valued at $1,325,000 after buying an additional 26,358 shares during the period. Pacific Ridge Capital Partners LLC raised its holdings in Capital Bancorp by 14.3% in the second quarter. Pacific Ridge Capital Partners LLC now owns 208,364 shares of the financial services provider’s stock valued at $4,271,000 after buying an additional 26,091 shares during the period. Finally, Acadian Asset Management LLC lifted its position in Capital Bancorp by 32.0% during the second quarter. Acadian Asset Management LLC now owns 73,351 shares of the financial services provider’s stock valued at $1,502,000 after buying an additional 17,784 shares in the last quarter. 56.14% of the stock is currently owned by institutional investors and hedge funds.

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.