Declared Dividend • Apr 30
First quarter dividend of US$0.12 announced Shareholders will receive a dividend of US$0.12. Ex-date: 11th May 2026 Payment date: 27th May 2026 Dividend yield will be 1.5%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 19% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 6.2% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 28
First quarter 2026 earnings: EPS misses analyst expectations First quarter 2026 results: EPS: US$0.73 (down from US$0.84 in 1Q 2025). Revenue: US$59.6m (up 5.7% from 1Q 2025). Net income: US$12.0m (down 14% from 1Q 2025). Profit margin: 20% (down from 25% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.8%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 8.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 09
Capital Bancorp, Inc., Annual General Meeting, May 28, 2026 Capital Bancorp, Inc., Annual General Meeting, May 28, 2026. Location: 2275 research blvd., suite 110 - conference center, maryland 20850., rockville, United States Reported Earnings • Mar 17
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$3.45 (up from US$2.12 in FY 2024). Revenue: US$230.0m (up 35% from FY 2024). Net income: US$57.2m (up 85% from FY 2024). Profit margin: 25% (up from 18% in FY 2024). The increase in margin was driven by higher revenue. Cost-to-income ratio: 63.1% (down from 64.8% in FY 2024). Non-performing loans: 1.84% (up from 1.15% in FY 2024). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 3.7%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions Derivative • Mar 16
Director exercised options to buy US$135k worth of stock. On the 10th of March, Marc McConnell exercised options to buy 5k shares at a strike price of around US$17.27, costing a total of US$81k. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. Since March 2025, Marc's direct individual holding has increased from 218.03k shares to 219.64k. Company insiders have collectively sold US$1.5m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Feb 20
President exercised options and sold US$82k worth of stock On the 15th of February, Edward Barry exercised options to acquire 3k shares at no cost and sold these for an average price of US$31.79 per share. This trade did not impact their existing holding. For the year to December 2019, Edward's total compensation was 43% salary and 57% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Edward's direct individual holding has increased from 359.44k shares to 372.70k. Company insiders have collectively sold US$1.5m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Jan 29
Fourth quarter dividend of US$0.12 announced Shareholders will receive a dividend of US$0.12. Ex-date: 9th February 2026 Payment date: 28th February 2026 Dividend yield will be 1.5%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (13% payout ratio) and is expected to be well covered in 3 years' time (15% forecast payout ratio). The dividend has increased by an average of 19% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 6.1% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 27
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$3.45 (up from US$2.12 in FY 2024). Revenue: US$230.0m (up 35% from FY 2024). Net income: US$57.2m (up 85% from FY 2024). Profit margin: 25% (up from 18% in FY 2024). The increase in margin was driven by higher revenue. Non-performing loans: 1.84% (up from 1.15% in FY 2024). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 3.7%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 8.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions Derivative • Dec 12
Independent Director exercised options to buy US$144k worth of stock. On the 9th of December, Joshua Bernstein exercised options to buy 5k shares at a strike price of around US$22.80, costing a total of US$111k. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. Since December 2024, Joshua's direct individual holding has increased from 542.56k shares to 871.43k. Company insiders have collectively sold US$2.0m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Nov 25
Capital Bancorp, Inc. Appoints Mark Caplan as Class II Director and Compensation Committee and Risk Committee, Effective November 21, 2025 On November 21, 2025, the Board of Directors (the "Board") of Capital Bancorp, Inc. (the "Company"), the bank holding company for Capital Bank, N.A. (the "Bank"), upon the recommendation of its Nominating and Corporate Governance Committee, appointed Mark Caplan as a Class II director on the Company's Board, effective immediately, and increased the aggregate size of the Company's Board to thirteen. As a Class II director, Mr. Caplan will be subject to re-election at the Company's annual meeting of stockholders in 2028. Mr. Caplan has served as a member of the Bank's Board since January of 2019 and serves as a member of the Loan Committee. Mr. Caplan is President and Chief Executive Officer of The Time Group, a real estate equity investment firm, and is the managing member and sole shareholder of Washington Place Equities, a development firm specializing in mixed use urban historic renovation and construction. Mr. Caplan also previously served on the board of directors of Sterling Bank and Trust, before it was acquired by Carroll County Bank and Trust in 1998, and was a member of the board of directors of Bay Bank, FSB, which in 2018 was acquired by Old Line Bank. The Board has determined that Mr. Caplan is an independent director under the applicable rules of the Securities and Exchange Commission and the Nasdaq Stock Market. Mr. Caplan was also appointed to the Compensation Committee and Risk Committee of the Board. Mr. Caplan will also participate in the Board's standard non-employee director compensation arrangements, as described under "Compensation of Non-Employee Directors" in definitive proxy statement filed with the SEC on April 1, 2025, which description is incorporated herein by reference, as such arrangements may be amended from time to time. Recent Insider Transactions Derivative • Nov 19
Independent Chairman of the Board exercised options to buy US$133k worth of stock. On the 14th of November, Steven Schwartz exercised options to buy 5k shares at a strike price of around US$13.89, costing a total of US$69k. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. Since December 2024, Steven's direct individual holding has increased from 727.19k shares to 732.19k. Company insiders have collectively sold US$2.1m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Nov 14
Insider recently sold US$95k worth of stock On the 12th of November, Dominic Canuso sold around 3k shares on-market at roughly US$27.95 per share. This transaction amounted to 70% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$1.4m. Insiders have been net sellers, collectively disposing of US$1.8m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Nov 11
Director exercised options and sold US$66k worth of stock On the 7th of November, Scot Browning exercised 8.50k options at around US$13.89, then sold 5k of the shares acquired at an average of US$27.94 per share and kept the remainder. Since December 2024, Scot has owned 513.59k shares directly. Company insiders have collectively sold US$2.1m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Oct 30
Third quarter dividend of US$0.12 announced Shareholders will receive a dividend of US$0.12. Ex-date: 10th November 2025 Payment date: 26th November 2025 Dividend yield will be 1.6%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (14% payout ratio) and is expected to be well covered in 3 years' time (15% forecast payout ratio). The dividend has increased by an average of 24% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 16% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 28
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: US$0.91 (up from US$0.62 in 3Q 2024). Revenue: US$58.2m (up 41% from 3Q 2024). Net income: US$15.1m (up 74% from 3Q 2024). Profit margin: 26% (up from 21% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 6.9%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Recent Insider Transactions • Aug 31
Independent Director recently sold US$1.4m worth of stock On the 27th of August, Randall Levitt sold around 40k shares on-market at roughly US$34.37 per share. This transaction amounted to 3.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$1.7m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Aug 29
Independent Director notifies of intention to sell stock Randall Levitt intends to sell 40k shares in the next 90 days after lodging an Intent To Sell Form on the 26th of August. If the sale is conducted around the recent share price of US$34.37, it would amount to US$1.4m. Since December 2024, Randall has owned 1.15m shares directly. Company insiders have collectively sold US$446k more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Jul 31
Second quarter dividend increased to US$0.12 Dividend of US$0.12 is 20% higher than last year. Ex-date: 11th August 2025 Payment date: 27th August 2025 Dividend yield will be 1.3%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 24% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 17% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 29
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: US$0.79 (up from US$0.59 in 2Q 2024). Revenue: US$56.7m (up 40% from 2Q 2024). Net income: US$13.1m (up 60% from 2Q 2024). Profit margin: 23% (up from 20% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 11%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Recent Insider Transactions Derivative • May 25
President exercised options and sold US$204k worth of stock On the 22nd of May, Edward Barry exercised 20.00k options at around US$13.93, then sold 11k of the shares acquired at an average of US$32.94 per share and kept the remainder. For the year to December 2018, Edward's total compensation was 43% salary and 57% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2024, Edward's direct individual holding has increased from 353.61k shares to 359.44k. Company insiders have collectively sold US$147k more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • May 05
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from US$239.9m to US$246.3m. EPS estimate increased from US$3.17 to US$3.49 per share. Net income forecast to grow 54% next year vs 14% growth forecast for Banks industry in the US. Consensus price target up from US$34.25 to US$35.00. Share price rose 11% to US$31.39 over the past week. Declared Dividend • May 01
First quarter dividend of US$0.10 announced Shareholders will receive a dividend of US$0.10. Ex-date: 12th May 2025 Payment date: 28th May 2025 Dividend yield will be 1.3%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 19% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 19% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 29
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: US$0.84 (up from US$0.47 in 1Q 2024). Revenue: US$56.4m (up 48% from 1Q 2024). Net income: US$13.9m (up 112% from 1Q 2024). Profit margin: 25% (up from 17% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Apr 11
Capital Bancorp, Inc., Annual General Meeting, May 15, 2025 Capital Bancorp, Inc., Annual General Meeting, May 15, 2025. Location: 2275 research blvd., suite 110 - conference center, maryland 20850, rockville United States Reported Earnings • Mar 18
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$2.12 (down from US$2.56 in FY 2023). Revenue: US$170.7m (up 8.7% from FY 2023). Net income: US$31.0m (down 14% from FY 2023). Profit margin: 18% (down from 23% in FY 2023). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 6.22% (down from 6.60% in FY 2023). Cost-to-income ratio: 64.8% (down from 66.5% in FY 2023). Non-performing loans: 1.15% (up from 0.84% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Feb 27
Capital Bancorp, Inc. (NasdaqGS:CBNK) announces an Equity Buyback for $15 million worth of its shares. Capital Bancorp, Inc. (NasdaqGS:CBNK) announces a share repurchase program. Under the program, the company will repurchase up to $15 million worth of it's shares. The program will expire on February 28, 2026. Recent Insider Transactions Derivative • Feb 20
President exercised options and sold US$87k worth of stock On the 15th of February, Edward Barry exercised options to acquire 3k shares at no cost and sold these for an average price of US$31.87 per share. This trade did not impact their existing holding. For the year to December 2018, Edward's total compensation was 54% salary and 46% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2024, Edward's direct individual holding has increased from 346.39k shares to 353.61k. Company insiders have collectively sold US$94k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Feb 11
Independent Director recently sold US$468k worth of stock On the 7th of February, Randall Levitt sold around 15k shares on-market at roughly US$32.30 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$316k more than they bought in the last 12 months. Price Target Changed • Feb 04
Price target increased by 10% to US$35.25 Up from US$32.00, the current price target is an average from 4 analysts. New target price is 12% above last closing price of US$31.48. Stock is up 52% over the past year. The company is forecast to post earnings per share of US$3.26 for next year compared to US$2.12 last year. Major Estimate Revision • Feb 03
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from US$237.6m to US$246.2m. EPS estimate increased from US$3.00 to US$3.34 per share. Net income forecast to grow 87% next year vs 13% growth forecast for Banks industry in the US. Consensus price target up from US$32.00 to US$33.50. Share price rose 5.1% to US$31.02 over the past week. Declared Dividend • Jan 30
Fourth quarter dividend of US$0.10 announced Shareholders will receive a dividend of US$0.10. Ex-date: 10th February 2025 Payment date: 26th February 2025 Dividend yield will be 1.2%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (17% payout ratio) and is expected to be well covered in 3 years' time (14% forecast payout ratio). The dividend has increased by an average of 19% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 50% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Jan 29
Price target increased by 11% to US$33.50 Up from US$30.25, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of US$31.97. Stock is up 47% over the past year. The company is forecast to post earnings per share of US$3.34 for next year compared to US$2.12 last year. Reported Earnings • Jan 28
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$2.12 (down from US$2.56 in FY 2023). Revenue: US$168.1m (up 7.0% from FY 2023). Net income: US$31.0m (down 14% from FY 2023). Profit margin: 18% (down from 23% in FY 2023). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 6.22% (down from 6.60% in FY 2023). Non-performing loans: 1.15% (up from 0.84% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Recent Insider Transactions Derivative • Dec 13
Independent Director exercised options to buy US$215k worth of stock. On the 11th of December, Jerome Bailey exercised options to buy 7k shares at a strike price of around US$14.54, costing a total of US$102k. This transaction amounted to 5.5% of their direct individual holding at the time of the trade. Since March 2024, Jerome has owned 127.64k shares directly. Company insiders have collectively bought US$372k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Nov 07
President exercised options and sold US$137k worth of stock On the 4th of November, Edward Barry exercised 20.00k options at around US$14.89, then sold 13k of the shares acquired at an average of US$25.64 per share and kept the remainder. For the year to December 2017, Edward's total compensation was 54% salary and 46% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2024, Edward has owned 346.39k shares directly. Company insiders have collectively bought US$992k more than they sold, via options and on-market transactions, in the last 12 months. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$29.39, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Banks industry in the US. Total returns to shareholders of 12% over the past three years. Declared Dividend • Nov 01
Third quarter dividend of US$0.10 announced Shareholders will receive a dividend of US$0.10. Ex-date: 4th November 2024 Payment date: 20th November 2024 Dividend yield will be 1.4%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (15% payout ratio) and is expected to be well covered in 3 years' time (14% forecast payout ratio). The dividend has increased by an average of 26% per year over the past 3 years and payments have been stable during that time. EPS is expected to grow by 51% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 29
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: US$0.62 (down from US$0.70 in 3Q 2023). Revenue: US$41.2m (up 1.0% from 3Q 2023). Net income: US$8.67m (down 11% from 3Q 2023). Profit margin: 21% (down from 24% in 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.2%. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Price Target Changed • Oct 11
Price target increased by 8.1% to US$28.50 Up from US$26.38, the current price target is an average from 4 analysts. New target price is 15% above last closing price of US$24.88. Stock is up 26% over the past year. The company is forecast to post earnings per share of US$1.88 for next year compared to US$2.56 last year. Recent Insider Transactions • Aug 02
Independent Director recently bought US$50k worth of stock On the 31st of July, Mary Scully bought around 2k shares on-market at roughly US$25.14 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$158k more in shares than they have sold in the last 12 months. Declared Dividend • Jul 25
Second quarter dividend increased to US$0.10 Dividend of US$0.10 is 25% higher than last year. Ex-date: 5th August 2024 Payment date: 21st August 2024 Dividend yield will be 1.3%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 26% per year over the past 3 years and payments have been stable during that time. EPS is expected to grow by 19% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 23
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: US$0.59 (up from US$0.52 in 2Q 2023). Revenue: US$40.4m (up 3.2% from 2Q 2023). Net income: US$8.21m (up 12% from 2Q 2023). Profit margin: 20% (up from 19% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 1.3%. Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Jul 23
Capital Bancorp, Inc. Declares Cash Dividend, Payable on August 21, 2024 Capital Bancorp, Inc. declared a cash dividend on its common stock of $0.10 per share. The dividend is payable on August 21, 2024 to shareholders of record on August 5, 2024. The dividend declared of $0.10 is $0.02, or 25.0% higher than the prior quarter dividend reflecting the strength of earnings and capital position. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$23.58, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Banks industry in the US. Total returns to shareholders of 22% over the past three years. Announcement • Jul 13
Capital Bancorp, Inc. and Capital Bank, N.A. Appoint Dominic C. Canuso as New Chief Financial Officer, Effective July 15, 2024 Capital Bank announced the appointment of Dominic C. Canuso, CFA, as the new Chief Financial Officer (CFO) for Capital Bancorp, Inc. and Capital Bank, N.A. A seasoned public company executive with a robust background in finance and operations, Mr. Canuso will officially join the organization on July 15, 2024. Dominic brings a wealth of experience to Capital Bank, having most recently served as EVP and CFO at WSFS Bank while also serving as the Executive Leader of the Cash Connect line of business. Over seven years, he was instrumental in driving the strategic direction of the bank including quadrupling the size of the bank, producing record profits, significantly enhancing technology solutions, and maturing operations. Prior to WSFS, Dominic spent nearly a decade at Barclays Bank, last serving as the line of business CFO for the US Credit Card business. Dominic has also previously worked at Advanta Bank and Arthur Andersen Consulting. Dominic is a CFA Charter holder and received both a Bachelor of Science in Finance and an Executive MBA in Strategy and Leadership from Villanova University. Recent Insider Transactions Derivative • Jun 27
Independent Director exercised options to buy US$217k worth of stock. On the 24th of June, James Whalen exercised options to buy 11k shares at a strike price of around US$14.31, costing a total of US$154k. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. Since December 2023, James' direct individual holding has increased from 961.58k shares to 963.15k. Company insiders have collectively bought US$969k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Jun 06
Independent Chairman of the Board exercised options to buy US$141k worth of stock. On the 31st of May, Steven Schwartz exercised options to buy 7k shares at a strike price of around US$14.54, costing a total of US$102k. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. Since December 2023, Steven's direct individual holding has increased from 718.62k shares to 727.19k. Company insiders have collectively bought US$815k more than they sold, via options and on-market transactions, in the last 12 months. Major Estimate Revision • May 09
Consensus EPS estimates increase by 13% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from US$1.77 to US$2.01. Revenue forecast steady at US$182.1m. Net income forecast to grow 3.1% next year vs 2.0% growth forecast for Banks industry in the US. Consensus price target broadly unchanged at US$26.30. Share price rose 2.6% to US$20.50 over the past week. Announcement • May 08
Capital Bank Appoints Jim Witty as Senior Vice President - Director of Contractor Banking Capital Bank announced the appointment of Jim Witty as Senior Vice President - Director of Contractor Banking. With a commercial banking career spanning over 30 years, many spent in leadership roles, Jim has a strong track record of helping businesses grow, driving strategic objectives, and fostering long-lasting relationships with his clients. In Jim’s new role, he will be leading strategic initiatives and fostering relationships within the contractor banking sector. Jim is passionate about giving back to the community. He currently serves as the Vice Chair and a Board member of Business Volunteers Maryland. Previously, he was the Chair and a Board member of the Maryland Zoo, served as Treasurer and a Board member for both the Irvine Nature Center and the Salvation Army Central Maryland Command. Major Estimate Revision • Apr 29
Consensus EPS estimates fall by 18%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from US$176.4m to US$182.2m. EPS estimate fell from US$2.17 to US$1.77 per share. Net income forecast to shrink 9.0% next year vs 1.5% growth forecast for Banks industry in the US . Consensus price target reaffirmed at US$26.10. Share price was steady at US$19.58 over the past week. Reported Earnings • Apr 23
First quarter 2024 earnings: EPS misses analyst expectations First quarter 2024 results: EPS: US$0.47 (down from US$0.69 in 1Q 2023). Revenue: US$38.1m (down 1.9% from 1Q 2023). Net income: US$6.56m (down 33% from 1Q 2023). Profit margin: 17% (down from 25% in 1Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.7%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 4% per year. Major Estimate Revision • Apr 03
Consensus EPS estimates fall by 11%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from US$172.3m to US$176.4m. EPS estimate fell from US$2.42 to US$2.17 per share. Net income forecast to shrink 19% next year vs 3.0% decline forecast for Banks industry in the US. Consensus price target broadly unchanged at US$26.10. Share price was steady at US$20.50 over the past week. Announcement • Apr 03
Capital Bancorp, Inc., Annual General Meeting, May 16, 2024 Capital Bancorp, Inc., Annual General Meeting, May 16, 2024, at 16:00 Eastern Daylight. Location: 2275 Research Blvd., Suite 110 - Conference Center, Rockville, Maryland Maryland United States Agenda: To elect four Class I directors to serve for a three-year term ending at the 2027 annual meeting of stockholders or until their successor is duly elected and qualified; to conduct a non-binding advisory vote to approve the compensation of the Company's Named Executive Officers; to conduct a non-binding advisory vote on the frequency of future stockholder advisory votes to approve the compensation of the Company's Named Executive Officers; and to ratify the appointment of Elliott Davis, PLLC as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024. Announcement • Mar 30
Capital Bancorp, Inc. (NasdaqGS:CBNK) entered into a definitive agreement to acquire Integrated Financial Holdings, Inc. (OTCPK:IFHI) for $66.3 million. Capital Bancorp, Inc. (NasdaqGS:CBNK) entered into a definitive agreement to acquire Integrated Financial Holdings, Inc. (OTCPK:IFHI) for $66.3 million on March 27, 2024. Under the terms of the merger agreement, IFH shareholders will, subject to certain adjustments, receive $5.36 in cash and 1.115 shares of CBNK common stock for each share of IFH common stock. Based on the closing price of Capital common stock of $20.00 on March 26, 2024, the implied per share purchase price, inclusive of the cash consideration, is $27.66. At closing, Capital shareholders will own approximately 84% and IFH shareholders will own approximately 16% of the combined company. Upon closing of the transaction, Marc McConnell, Chairman, President and CEO of IFH, will join the board of directors of Capital Bancorp, Inc. and Capital Bank. A. Riddick Skinner, EVP of Government Lending at IFH will join Capital Bank as Head of Government Guaranteed Lending Program. Melissa Marsal, EVP and Chief Operating Officer of IFH, will join Capital Bank in a leadership role. Mike Breckheimer, EVP and Chief Strategy Officer at IFH, will join Capital Bank as Head of Windsor Advantage. The transaction with IFH has been unanimously approved by both IFH’s and CBNK’s boards of directors and is subject to approval of Capital’s and IFH’s shareholders, regulatory approvals and the satisfaction of other customary closing conditions. The transaction is expected to be completed in the second half of 2024. Frank Sorrentino, Scott Studwell, Nate Mittag, Adam Cunningham and Ryan Crudeli of Stephens Inc. acted as financial advisor and fairness opinion provider to Capital Bancorp. Squire Patton Boggs (US) LLP acted as legal advisor to Capital Bancorp. Raymond James & Associates, Inc. acted as financial advisor to Integrated Financial Holdings. Wyrick Robbins Yates & Ponton LLP acted as legal advisor to Integrated Financial Holdings. Announcement • Mar 28
Capital Bancorp, Inc. Appoints Marc McConnell as Board of Director Capital Bancorp, Inc. (CBNK or Capital) and Integrated Financial Holdings, Inc. (IFH) announced that they have entered into a definitive merger agreement under which CBNK will acquire IFH in a cash and stock transaction valued at $66 million, exclusive of the value of a dividend to be received by IFH shareholders at or immediately prior to closing. Upon closing of the transaction, Marc McConnell, Chairman, President and CEO of IFH, will join the board of directors of Capital Bancorp, Inc. Reported Earnings • Mar 17
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: US$2.56 (down from US$2.98 in FY 2022). Revenue: US$157.0m (down 3.9% from FY 2022). Net income: US$35.9m (down 14% from FY 2022). Profit margin: 23% (down from 26% in FY 2022). Net interest margin (NIM): 6.60% (down from 6.92% in FY 2022). Non-performing loans: 0.84% (up from 0.56% in FY 2022). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 1.1%. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has remained flat. Recent Insider Transactions Derivative • Feb 22
President exercised options and sold US$76k worth of stock On the 15th of February, Edward Barry exercised options to acquire 4k shares at no cost and sold these for an average price of US$20.81 per share. This trade did not impact their existing holding. For the year to December 2017, Edward's total compensation was 51% salary and 49% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2023, Edward's direct individual holding has increased from 329.92k shares to 337.86k. Company insiders have collectively bought US$1.2m more than they sold, via options and on-market transactions, in the last 12 months. Upcoming Dividend • Jan 26
Upcoming dividend of US$0.08 per share at 1.4% yield Eligible shareholders must have bought the stock before 02 February 2024. Payment date: 21 February 2024. Trailing yield: 1.4%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (3.2%). Declared Dividend • Jan 25
Fourth quarter dividend of US$0.08 announced Shareholders will receive a dividend of US$0.08. Ex-date: 2nd February 2024 Payment date: 21st February 2024 Dividend yield will be 1.3%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (12% payout ratio) and is expected to be well covered in 3 years' time (13% forecast payout ratio). The dividend has increased by an average of 26% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 4.4% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 23
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: US$2.56 (down from US$2.98 in FY 2022). Revenue: US$157.0m (down 3.9% from FY 2022). Net income: US$35.9m (down 14% from FY 2022). Profit margin: 23% (down from 26% in FY 2022). Net interest margin (NIM): 6.60% (down from 6.92% in FY 2022). Non-performing loans: 0.84% (up from 0.56% in FY 2022). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 1.1%. Revenue is forecast to grow 9.2% p.a. on average during the next 2 years, compared to a 5.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Dec 29
Price target increased by 8.5% to US$25.40 Up from US$23.40, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of US$24.62. Stock is up 4.2% over the past year. The company is forecast to post earnings per share of US$2.52 for next year compared to US$2.98 last year. Recent Insider Transactions Derivative • Dec 05
Independent Director exercised options to buy US$218k worth of stock. On the 30th of November, Fred Lewis exercised options to buy 10k shares at a strike price of around US$11.38, costing a total of US$114k. This transaction amounted to 91% of their direct individual holding at the time of the trade. Since March 2023, Fred has owned 10.95k shares directly. Company insiders have collectively bought US$1.4m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Nov 24
Independent Chairman of the Board exercised options to buy US$229k worth of stock. On the 20th of November, Steven Schwartz exercised options to buy 11k shares at a strike price of around US$11.38, costing a total of US$128k. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. Since December 2022, Steven's direct individual holding has increased from 705.67k shares to 707.37k. Company insiders have collectively bought US$1.3m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Nov 05
President exercised options and sold US$109k worth of stock On the 1st of November, Edward Barry exercised 20.00k options at around US$11.41, then sold 12k of the shares acquired at an average of US$20.44 per share and kept the remainder. For the year to December 2016, Edward's total compensation was 51% salary and 49% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2023, Edward has owned 329.92k shares directly. Company insiders have collectively bought US$1.2m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Oct 28
Capital Bank Appoints Jacob Jake Dalaya as Chief Strategy Officer Capital Bank announced the appointment of Mr. Jacob Jake Dalaya as its new Chief Strategy Officer (CSO). With substantial expertise in financial services, particularly in bank M&A and capital markets, Mr. Dalaya is well positioned to advance the bank's strategic growth and expansion. As CSO, Mr. Dalaya will collaborate with the CEO, Executive Management Team (EMT), and the Board of Directors. A significant part of his role involves partnering on the banks strategic planning process, identifying and implementing new revenue streams and enhancing current business lines. Mr. Dalaya will also leverage his experience in bank M&A and capital markets to spearhead the bank's M&A and investor relations strategies. In Mr. Dalaya's prior role at Webster Financial Corporation he played a key role in the execution of various strategic initiatives for the bank. Mr. Dalaya also spent several years in investment banking, including at Keefe, Bruyette &Woods as a Vice President and at J.P. Morgan Securities in various roles. During his time in investment banking, Mr. Dalaya helped lead M&A and capital raising transactions for financial institutions. Mr. Dalaya graduated with a bachelors degree in economics from New York University. Upcoming Dividend • Oct 27
Upcoming dividend of US$0.08 per share at 1.6% yield Eligible shareholders must have bought the stock before 03 November 2023. Payment date: 22 November 2023. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of American dividend payers (5.3%). Lower than average of industry peers (4.1%). Reported Earnings • Oct 25
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: US$0.70 (down from US$0.79 in 3Q 2022). Revenue: US$40.8m (down 4.0% from 3Q 2022). Net income: US$9.79m (down 12% from 3Q 2022). Profit margin: 24% (down from 26% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 24
Capital Bancorp, Inc. Declares Cash Dividend on Its Common Stock, Payable on November 22, 2023 Capital Bancorp, Inc. declared a cash dividend on its common stock of $0.08 per share. The dividend is payable on November 22, 2023 to shareholders of record on November 6, 2023. Recent Insider Transactions • Sep 12
Independent Director recently bought US$108k worth of stock On the 7th of September, Mary Scully bought around 6k shares on-market at roughly US$19.68 per share. This transaction increased Mary's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$421k more in shares than they have sold in the last 12 months. New Risk • Jul 31
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.6% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.0% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Jul 28
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: EPS: US$0.52 (down from US$0.82 in 2Q 2022). Revenue: US$39.2m (down 6.1% from 2Q 2022). Net income: US$7.32m (down 36% from 2Q 2022). Profit margin: 19% (down from 28% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.3%. Revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 24% per year.