Capital Bancorp, Inc. (NASDAQ:CBNK) Plans $0.08 Quarterly Dividend

Capital Bancorp, Inc. (NASDAQ:CBNK) declared a quarterly dividend on Monday, April 22nd, Zacks reports. Shareholders of record on Monday, May 6th will be paid a dividend of 0.08 per share by the financial services provider on Wednesday, May 22nd. This represents a $0.32 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, May 3rd.

Capital Bancorp has a dividend payout ratio of 10.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Capital Bancorp to earn $2.90 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 11.0%.

Capital Bancorp Price Performance

NASDAQ CBNK traded down $0.13 during midday trading on Wednesday, hitting $19.58. The company had a trading volume of 4,975 shares, compared to its average volume of 21,380. The company has a market capitalization of $271.97 million, a PE ratio of 8.42 and a beta of 0.41. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $20.31 and a 200-day moving average price of $21.25. Capital Bancorp has a twelve month low of $15.36 and a twelve month high of $25.00.

Capital Bancorp (NASDAQ:CBNK) last announced its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. Capital Bancorp had a return on equity of 13.56% and a net margin of 15.35%. The firm had revenue of $52.91 million during the quarter, compared to analysts’ expectations of $42.48 million. As a group, analysts anticipate that Capital Bancorp will post 2.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CBNK. Hovde Group decreased their price target on Capital Bancorp from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Tuesday. Stephens upgraded 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 note on Monday, April 1st. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $25.00 price target on shares of Capital Bancorp in a research note on Monday, April 1st.

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.