Capital Bancorp, Inc. (NASDAQ:CBNK) Short Interest Down 13.9% in March

Capital Bancorp, Inc. (NASDAQ:CBNK) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 41,400 shares, a drop of 13.9% from the March 15th total of 48,100 shares. Based on an average trading volume of 21,500 shares, the days-to-cover ratio is currently 1.9 days. Approximately 0.5% of the shares of the company are sold short.

Institutional Investors Weigh In On Capital Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. New York State Common Retirement Fund increased its holdings in Capital Bancorp by 28.6% during the 4th quarter. New York State Common Retirement Fund now owns 3,185 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 708 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Capital Bancorp by 13.7% in the 3rd quarter. Royal Bank of Canada now owns 6,310 shares of the financial services provider’s stock valued at $146,000 after buying an additional 759 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Capital Bancorp by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 38,725 shares of the financial services provider’s stock valued at $701,000 after buying an additional 783 shares during the period. Deutsche Bank AG increased its stake in shares of Capital Bancorp by 19.5% in the 1st quarter. Deutsche Bank AG now owns 5,328 shares of the financial services provider’s stock valued at $89,000 after buying an additional 870 shares during the period. Finally, Morgan Stanley increased its stake in shares of Capital Bancorp by 3.0% in the 4th quarter. Morgan Stanley now owns 29,927 shares of the financial services provider’s stock valued at $704,000 after buying an additional 882 shares during the period. 56.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on CBNK. Stephens upgraded Capital Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $25.00 to $28.00 in a research report on Monday, April 1st. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $25.00 price objective on shares of Capital Bancorp in a research report on Monday, April 1st.

Capital Bancorp Price Performance

Shares of Capital Bancorp stock traded down $0.41 during midday trading on Tuesday, hitting $19.12. 4,028 shares of the company were exchanged, compared to its average volume of 21,588. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $265.58 million, a P/E ratio of 7.66 and a beta of 0.42. Capital Bancorp has a 52 week low of $15.36 and a 52 week high of $25.00. The firm has a 50 day simple moving average of $20.42 and a 200-day simple moving average of $21.23.

Capital Bancorp (NASDAQ:CBNK) last posted its earnings results on Monday, January 22nd. The financial services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.62 by $0.03. The business had revenue of $52.91 million during the quarter, compared to the consensus estimate of $42.48 million. Capital Bancorp had a return on equity of 14.79% and a net margin of 17.23%. Research analysts forecast that Capital Bancorp will post 2.47 earnings per share for the current year.

Capital Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Monday, February 5th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.67%. Capital Bancorp’s dividend payout ratio is 12.55%.

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.