Dominic Canuso Sells 3,400 Shares of Capital Bancorp (NASDAQ:CBNK) Stock

Capital Bancorp, Inc. (NASDAQ:CBNK) CFO Dominic Canuso sold 3,400 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $27.95, for a total transaction of $95,030.00. Following the sale, the chief financial officer owned 1,434 shares in the company, valued at $40,080.30. This represents a 70.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Capital Bancorp Price Performance

NASDAQ CBNK opened at $27.78 on Friday. The company has a 50 day simple moving average of $30.28 and a 200-day simple moving average of $32.04. Capital Bancorp, Inc. has a 52-week low of $24.69 and a 52-week high of $36.40. The firm has a market capitalization of $458.95 million, a price-to-earnings ratio of 9.45 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.01.

Capital Bancorp (NASDAQ:CBNK) last announced its quarterly earnings data on Tuesday, November 12th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter. Capital Bancorp had a net margin of 16.41% and a return on equity of 15.40%. The business had revenue of $21.01 million for the quarter. Equities research analysts predict that Capital Bancorp, Inc. will post 3.17 earnings per share for the current fiscal year.

Capital Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 10th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.48 dividend on an annualized basis and a yield of 1.7%. Capital Bancorp’s payout ratio is currently 16.33%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey grew its position in Capital Bancorp by 46.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 2,701 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 852 shares during the last quarter. Federated Hermes Inc. increased its holdings in Capital Bancorp by 12.7% in the first quarter. Federated Hermes Inc. now owns 3,977 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 449 shares during the period. Franklin Resources Inc. bought a new position in Capital Bancorp during the 2nd quarter worth $201,000. Allspring Global Investments Holdings LLC acquired a new position in Capital Bancorp during the 2nd quarter worth about $209,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Capital Bancorp by 16.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,410 shares of the financial services provider’s stock valued at $215,000 after buying an additional 884 shares during the last quarter. 56.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CBNK. Stephens decreased their price target on shares of Capital Bancorp from $40.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Zacks Research lowered shares of Capital Bancorp from a “hold” rating to a “strong sell” rating in a report on Friday, October 31st. Wall Street Zen lowered shares of Capital Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Keefe, Bruyette & Woods reduced their target price on Capital Bancorp from $33.00 to $31.00 and set a “market perform” rating on the stock in a report on Monday, November 10th. Finally, Hovde Group lowered their price target on Capital Bancorp from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $34.33.

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.