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

Capital Bancorp, Inc. (NASDAQ:CBNK) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 145,700 shares, an increase of 251.9% from the March 31st total of 41,400 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average daily trading volume, of 21,400 shares, the short-interest ratio is presently 6.8 days.

Capital Bancorp Stock Up 0.7 %

Shares of CBNK traded up $0.14 during mid-day trading on Thursday, reaching $19.64. 28,809 shares of the stock traded hands, compared to its average volume of 21,619. The firm has a market cap of $272.80 million, a price-to-earnings ratio of 8.30 and a beta of 0.41. The stock has a fifty day simple moving average of $20.28 and a 200 day simple moving average of $21.24. Capital Bancorp has a 12-month low of $15.36 and a 12-month high of $25.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.19.

Capital Bancorp (NASDAQ:CBNK) last posted its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The company had revenue of $52.91 million for the quarter, compared to analyst estimates of $42.48 million. Capital Bancorp had a net margin of 15.35% and a return on equity of 13.56%. Sell-side analysts expect that Capital Bancorp will post 2.47 EPS for the current fiscal year.

Capital Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, May 6th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.63%. Capital Bancorp’s dividend payout ratio is currently 13.68%.

Institutional Trading of Capital Bancorp

Hedge funds have recently made changes to their positions in the company. AJOVista LLC purchased a new stake in shares of Capital Bancorp during the fourth quarter valued at approximately $33,000. New York State Common Retirement Fund increased its stake in shares of Capital Bancorp by 28.6% in 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. SG Americas Securities LLC bought a new stake in shares of Capital Bancorp in the fourth quarter worth $125,000. Comerica Bank increased its stake in shares of Capital Bancorp by 41.3% in the fourth quarter. Comerica Bank now owns 49,356 shares of the financial services provider’s stock worth $1,194,000 after buying an additional 14,427 shares during the last quarter. Finally, Ballast Asset Management LP bought a new stake in shares of Capital Bancorp in the third quarter worth $2,397,000. Hedge funds and other institutional investors own 56.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CBNK shares. Stephens raised shares of Capital Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $25.00 to $28.00 in a research report on Monday, April 1st. Hovde Group reduced their price target on shares of Capital Bancorp from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $25.00 price target on shares of Capital Bancorp in a research report on Monday, April 1st.

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.