Short Interest in Capital Bancorp, Inc. (NASDAQ:CBNK) Increases By 9.2%

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

Capital Bancorp Stock Up 0.7 %

CBNK stock traded up $0.17 during midday trading on Tuesday, hitting $25.44. The stock had a trading volume of 21,184 shares, compared to its average volume of 22,685. The business has a 50-day moving average of $24.24 and a two-hundred day moving average of $21.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.01 and a quick ratio of 1.00. The firm has a market cap of $353.41 million, a price-to-earnings ratio of 10.92 and a beta of 0.47. Capital Bancorp has a 52-week low of $18.56 and a 52-week high of $26.20.

Capital Bancorp (NASDAQ:CBNK) last issued its quarterly earnings results on Monday, July 22nd. The financial services provider reported $0.59 earnings per share (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 business had revenue of $57.51 million during the quarter, compared to the consensus estimate of $42.70 million. As a group, equities research analysts forecast that Capital Bancorp will post 1.89 earnings per share for the current fiscal year.

Capital Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Monday, August 5th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.57%. This is an increase from Capital Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Monday, August 5th. Capital Bancorp’s dividend payout ratio is 17.09%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CBNK. Keefe, Bruyette & Woods increased their price objective on Capital Bancorp from $25.00 to $27.00 and gave the company a “market perform” rating in a research report on Tuesday, July 23rd. Hovde Group raised their target price on Capital Bancorp from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th.

Insider Activity

In other news, Director Mary Ann Scully bought 2,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were acquired at an average cost of $25.14 per share, for a total transaction of $50,280.00. Following the purchase, the director now directly owns 13,536 shares of the company’s stock, valued at approximately $340,295.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 32.50% of the company’s stock.

Institutional Inflows and Outflows

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