Capital Bancorp, Inc. (NASDAQ:CBNK) to Issue Quarterly Dividend of $0.08

Capital Bancorp, Inc. (NASDAQ:CBNK) declared a quarterly dividend on Monday, April 22nd, Zacks reports. Investors 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 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Friday, May 3rd.

Capital Bancorp has a payout ratio of 10.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 1.2 %

NASDAQ CBNK traded down $0.23 during trading hours on Wednesday, reaching $19.48. 5,303 shares of the company’s stock traded hands, compared to its average volume of 21,391. Capital Bancorp has a 52-week low of $15.36 and a 52-week high of $25.00. The firm has a market cap of $270.58 million, a PE ratio of 8.37 and a beta of 0.41. The firm has a 50-day simple moving average of $20.31 and a 200 day simple moving average of $21.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.02 and a quick ratio of 1.02.

Capital Bancorp (NASDAQ:CBNK) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $42.48 million. Capital Bancorp had a net margin of 15.35% and a return on equity of 13.56%. Sell-side analysts anticipate that Capital Bancorp will post 2.47 EPS for the current fiscal year.

Analysts Set New Price Targets

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