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

Capital Bancorp, Inc. (NASDAQ:CBNK) was the target of a significant growth in short interest in November. As of November 30th, there was short interest totalling 36,700 shares, a growth of 8.6% from the November 15th total of 33,800 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 38,200 shares, the days-to-cover ratio is currently 1.0 days.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their price objective on 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 Price Performance

CBNK traded up $0.18 on Monday, hitting $30.84. 17,574 shares of the company were exchanged, compared to its average volume of 27,528. The business’s fifty day moving average is $27.24 and its 200 day moving average is $24.56. Capital Bancorp has a fifty-two week low of $19.02 and a fifty-two week high of $31.12. 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 firm has a market capitalization of $510.65 million, a P/E ratio of 13.16 and a beta of 0.50.

Capital Bancorp (NASDAQ:CBNK) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). Capital Bancorp had a net margin of 14.49% and a return on equity of 12.66%. The business had revenue of $59.25 million during the quarter. As a group, sell-side analysts anticipate that Capital Bancorp will post 2.37 EPS for the current year.

Capital Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, November 4th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.30%. Capital Bancorp’s dividend payout ratio (DPR) is currently 17.17%.

Insider Transactions at Capital Bancorp

In other news, CFO Dominic C. Canuso bought 1,000 shares of Capital Bancorp stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $25.52 per share, with a total value of $25,520.00. Following the completion of the acquisition, 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 this link. Also, COO Steven M. Poynot acquired 2,000 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now owns 4,503 shares in the company, valued at approximately $114,196.08. The trade was 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

Large investors have recently added to or reduced their stakes in the business. Pacific Ridge Capital Partners LLC grew 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 purchasing an additional 26,091 shares during the period. Kendall Capital Management acquired a new stake in shares of Capital Bancorp during the 2nd quarter worth $1,664,000. Wealthspire Advisors LLC acquired a new stake in shares of Capital Bancorp during the 2nd quarter worth $1,577,000. Squarepoint Ops LLC purchased a new position in shares of Capital Bancorp in the 2nd quarter worth $304,000. Finally, Acadian Asset Management LLC boosted its holdings in Capital Bancorp by 32.0% in 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 acquiring an additional 17,784 shares during the last quarter. 56.14% of the stock is currently owned by hedge funds and other institutional investors.

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.