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Dominic Canuso, Executive Vice President and Chief Financial Officer at Capital Bancorp Inc (NASDAQ:CBNK), a regional bank with a market capitalization of $469 million, recently purchased 900 shares of the company’s common stock. The purchase comes as InvestingPro analysis indicates the stock is currently undervalued, with analyst price targets ranging from $35 to $37. The transactions occurred on March 12, 2025, with the shares acquired at prices ranging from $28.15 to $28.20 each. The total value of these transactions amounted to $25,346. Following these purchases, Canuso’s direct ownership in Capital Bancorp stands at 3,400 shares. The stock has demonstrated strong performance with a 40.7% return over the past year, while maintaining a modest P/E ratio of 13.4 and offering a 1.43% dividend yield. InvestingPro subscribers can access additional insights, including 6 key investment tips and comprehensive financial metrics.
In other recent news, Capital Bancorp Inc. has announced a new stock repurchase program, as detailed in its recent SEC filings. The company’s Board of Directors has authorized a buyback of up to $15 million worth of its common stock, equating to approximately 483,559 shares based on the stock’s closing price at the end of January 2025. This initiative follows the completion of a previous buyback plan, which concluded at the end of December 2024 with 543,215 shares repurchased. The new program, set to expire in February 2026, represents about 4.1% of the company’s issued and outstanding common stock as of January’s end. Capital Bancorp may execute these repurchases on the open market or through privately negotiated transactions, taking into account market conditions and legal requirements. The company has emphasized that there is no obligation to repurchase any specific number of shares, and the program can be modified or terminated without prior notice. This strategic move underscores Capital Bancorp’s commitment to managing its capital and returning value to shareholders.
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