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Capital Bancorp Inc. (NASDAQ:CBNK) Executive Vice President and Chief Financial Officer Dominic Canuso recently acquired a significant number of shares in the company. According to a recent SEC filing, Canuso purchased a total of 500 shares of Capital Bancorp’s common stock on March 4, 2025. The shares were bought at prices ranging from $29.00 to $29.50, amounting to a total transaction value of $14,687. The timing appears strategic, as InvestingPro analysis indicates the stock is currently trading below its Fair Value, with analysts setting price targets up to $37.
Following these acquisitions, Canuso’s total direct ownership of Capital Bancorp’s common stock increased to 2,500 shares. These transactions highlight Canuso’s continued confidence in the company’s prospects, as he expands his stake in the national commercial bank headquartered in Rockville, Maryland. The confidence appears well-founded, with the stock delivering a 44% return over the past year and trading at a modest P/E ratio of 13.5. InvestingPro subscribers can access additional insights, including 6 key ProTips and comprehensive financial metrics that shed light on the company’s growth trajectory.
In other recent news, Capital Bancorp Inc. has announced a new stock repurchase program valued at $15 million. This initiative, authorized by the company’s Board of Directors, allows for the buyback of approximately 483,559 shares based on the stock’s closing price as of January 31, 2025. The program is scheduled to expire on February 28, 2026, and accounts for about 4.1% of the company’s issued and outstanding common stock as of the end of January. The buyback follows the completion of a previous repurchase plan that concluded on December 31, 2024, with 543,215 shares repurchased. The company may execute the repurchases on the open market or through privately negotiated transactions, considering market conditions and legal requirements. There is no obligation to repurchase a specific number of shares, and the program can be suspended or terminated at any time. This strategic financial move reflects Capital Bancorp’s commitment to managing capital and returning value to its shareholders.
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