Capital Bancorp Stock Price, News & Analysis

Capital Bancorp, Inc. (NASDAQ: CBNK) has declared a cash dividend of $0.06 per share on its common stock, payable on November 23, 2022. Shareholders of record as of November 7, 2022 will receive this dividend. The company, based in Rockville, Maryland, operates Capital Bank, which is the fourth largest bank in Maryland with assets of approximately $2.0 billion as of September 30, 2022. Capital Bancorp has been delivering financial services since 1999.

Capital Bancorp reported a net income of $11.1 million for Q3 2022, resulting in a diluted EPS of $0.77, consistent with $11.2 million or $0.79 per share in Q3 2021. The company achieved a ROAA of 2.15% and a ROAE of 20.32%. Net portfolio loans rose by $40.3 million or 10.0% annualized. Noninterest income decreased by $5.5 million, primarily due to lower mortgage and credit card revenues. Capital ratios remain strong, with a common equity tier 1 ratio of 15.36%.

On October 11, 2022, Capital Bank, N.A. appointed Steven M. Poynot as Chief Operating Officer. Poynot, who has extensive experience in banking, previously held key positions at F&M Trust and Howard Bank, focusing on operations and technology. His appointment aligns with the Bank's strategic goals for growth. Karl Dicker, the former COO, transitions to President of OpenSky and Fintech, marking a shift in focus toward lucrative opportunities. Capital Bank is Maryland's fourth-largest bank, with assets of approximately $2.2 billion as of June 30, 2022, and its stock symbol is CBNK.

Capital Bancorp, Inc. (NASDAQ: CBNK) announced a cash dividend of $0.06 per share, payable August 24, 2022, to shareholders of record by August 8, 2022. Additionally, the company received approval from the Federal Reserve Bank of Richmond to initiate a stock repurchase program, allowing repurchases up to $10 million, representing about 3.1% of outstanding shares. The program aims to enhance shareholder value amidst market volatility and will continue until December 31, 2023. CEO Ed Barry emphasized the company's strong financial position and commitment to capital efficiency.

Capital Bancorp, Inc. (CBNK) reported a net income of $11.5 million or $0.80 per diluted share for the second quarter of 2022, marking a 19.3% increase from $9.6 million in Q2 2021. The company's net portfolio loans rose by $81.4 million, representing a 21.4% annualized growth. The return on average assets (ROAA) was 2.23% while the return on average equity (ROAE) stood at 22.16%. OpenSky® revenues increased 22.1% to $23.0 million, although credit card accounts saw headwinds from fintech competition.

Capital Bank, N.A. announced a partnership with ZSuite Technologies to enhance its tech solutions with the introduction of ZRent, a digital platform that streamlines rent collection for landlords and property managers. ZRent enables easy payments via various devices, promising faster transaction processing of up to one business day. The service is complimentary for landlords with an account at Capital Bank. The bank aims to integrate more ZSuite solutions in pursuit of delivering greater convenience and efficiency to its customers.

On April 25, 2022, Capital Bancorp, Inc. (NASDAQ: CBNK) announced a cash dividend of $0.05 per share, to be paid on May 25, 2022, to shareholders on record as of May 9, 2022. The company, based in Rockville, Maryland, operates as a bank holding company and is the fourth largest bank in Maryland, boasting assets of approximately $2.1 billion as of March 31, 2022. Capital Bank has been providing financial services since 1999 and has multiple branches in the greater Washington, D.C. and Baltimore areas.

Capital Bancorp, Inc. (NASDAQ: CBNK) announced a net income of $10.2 million for Q1 2022, or $0.71 diluted EPS, up from $9.0 million or $0.65 in Q1 2021. With a ROAA of 2.01% and ROAE of 20.30%, the bank showed strong performance despite a 68.8% drop in mortgage origination volumes. Portfolio loans rose by $213.9 million year-over-year, with a net interest margin of 6.79%. Non-performing assets decreased to 0.28%. The company is optimistic about future growth driven by strategic investments, despite adverse impacts from rising interest rates.