Capital Bancorp (NASDAQ:CBNK) Sets New 52-Week High Following Better-Than-Expected Earnings

Capital Bancorp, Inc. (NASDAQ:CBNK)’s stock price reached a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $31.33 and last traded at $31.67, with a volume of 9545 shares trading hands. The stock had previously closed at $29.51.

The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.26. Capital Bancorp had a return on equity of 12.66% and a net margin of 14.49%. During the same period in the prior year, the company posted $0.65 EPS.

Wall Street Analyst Weigh In

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

Insider Activity

In other Capital Bancorp news, CFO Dominic C. Canuso acquired 1,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average cost of $25.52 per share, with a total value of $25,520.00. Following the completion of the purchase, the chief financial officer now directly owns 2,000 shares in the company, valued at $51,040. The trade was a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steven M. Poynot purchased 2,000 shares of Capital Bancorp stock in a transaction dated Friday, November 1st. The stock was acquired at an average price 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 in the company, valued at approximately $114,196.08. This represents a 79.90 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 32.50% of the company’s stock.

Hedge Funds Weigh In On Capital Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Capital Bancorp during the fourth quarter worth approximately $109,000. Praetorian Wealth Management Inc. purchased a new position in Capital Bancorp during the fourth quarter worth approximately $205,000. BNP Paribas Financial Markets raised its holdings in shares of Capital Bancorp by 317.1% during the 3rd 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 during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Capital Bancorp during the 3rd quarter worth approximately $276,000. Finally, Barclays PLC grew its position in Capital Bancorp by 297.3% in the third quarter. Barclays PLC now owns 11,918 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 8,918 shares during the period. Institutional investors and hedge funds own 56.14% of the company’s stock.

Capital Bancorp Stock Up 7.4 %

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 has a 50-day moving average of $28.81 and a 200-day moving average of $26.41. The stock has a market capitalization of $524.95 million, a price-to-earnings ratio of 13.61 and a beta of 0.51.

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.