Capital Bancorp, Inc. (NASDAQ:CBNK) to Issue $0.10 Quarterly Dividend

Capital Bancorp, Inc. (NASDAQ:CBNK) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Investors of record on Monday, February 10th will be given a dividend of 0.10 per share by the financial services provider on Wednesday, February 26th. This represents a $0.40 annualized dividend and a yield of 1.30%. The ex-dividend date is Monday, February 10th.

Capital Bancorp has raised its dividend payment by an average of 53.3% per year over the last three years. Capital Bancorp has a payout ratio of 11.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Capital Bancorp to earn $3.17 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 12.6%.

Capital Bancorp Stock Performance

Shares of CBNK traded up $1.31 during midday trading on Tuesday, reaching $30.82. 49,493 shares of the stock were exchanged, compared to its average volume of 45,523. The company has a market capitalization of $510.38 million, a price-to-earnings ratio of 13.23 and a beta of 0.51. Capital Bancorp has a twelve month low of $19.02 and a twelve month high of $31.89. The business’s 50-day moving average price is $28.81 and its 200 day moving average price is $26.41. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 1.02.

Capital Bancorp (NASDAQ:CBNK) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.26. Capital Bancorp had a net margin of 14.49% and a return on equity of 12.66%. During the same quarter in the previous year, the company posted $0.65 earnings per share. On average, sell-side analysts expect that Capital Bancorp will post 2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Capital Bancorp news, COO Steven M. Poynot purchased 2,000 shares of the stock in a transaction on Friday, November 1st. The stock was bought at an average price of $25.36 per share, for a total transaction of $50,720.00. Following the acquisition, the chief operating officer now directly owns 4,503 shares of the company’s stock, valued at $114,196.08. This represents a 79.90 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Dominic C. Canuso acquired 1,000 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were bought at an average price of $25.52 per share, for a total transaction of $25,520.00. Following the completion of the acquisition, the chief financial officer now owns 2,000 shares in the company, valued at approximately $51,040. This trade represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their price objective on shares of Capital Bancorp from $28.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

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.