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In a recent filing with the Securities and Exchange Commission, Capital Bancorp (NASDAQ:CBNK) Inc. detailed the outcomes of its Annual Meeting of Stockholders held on May 15, 2025. The Maryland-based national commercial bank, currently valued at $557.56 million and trading near its 52-week high of $34.01, reported that four Class II director nominees and one Class III director nominee were elected during the meeting. According to InvestingPro data, the company has demonstrated strong momentum with a 69% return over the past year.
The stockholders also gave a nod to the non-binding advisory vote on executive compensation and ratified the appointment of Elliott Davis, PLLC as the independent registered public accounting firm for the fiscal year ending December 31, 2025. Additionally, an amendment to the company’s 2017 Stock and Incentive Compensation Plan was approved, which will increase the number of shares available for grant under the plan. The company’s strong financial position is reflected in its consistent dividend growth, having raised dividends for four consecutive years with a 25% increase in the last twelve months.
At the time of the meeting, there were 16,656,649 shares of Capital Bancorp’s common stock issued and outstanding. A majority of these shares, totaling 13,530,916, were represented in person or by proxy at the meeting. The specific vote results for each proposal were detailed in the SEC filing, indicating clear shareholder support for the company’s proposed actions.
The filing did not include any further proposals or business apart from the ones described and no other actions were reported. This information is based on the definitive proxy statement previously provided by the company.
This corporate governance update comes as Capital Bancorp Inc. continues to operate within the regulatory framework of the national commercial banks industry, ensuring transparency and compliance with the SEC’s requirements.
In other recent news, Capital Bancorp reported strong financial results, with an operating earnings per share (EPS) of $0.88, surpassing the consensus estimate of $0.73. The company’s core pre-provision net revenue (PPNR) of $21.8 million also exceeded expectations, driven by higher net interest income and lower-than-expected expenses. Stephens analyst Brody Preston raised the price target for Capital Bancorp to $36.00, maintaining an Overweight rating, following these impressive earnings.
Additionally, Capital Bancorp announced a new $15 million stock repurchase program, allowing the company to buy back approximately 4.1% of its outstanding shares. Keefe, Bruyette & Woods increased the price target for Capital Bancorp to $35.00, citing higher net interest income and successful integration of IFH, which has diversified the company’s revenue streams. The firm’s analysts also raised the 2025 EPS estimates by 6%, reflecting confidence in the company’s financial health.
In a strategic move to enhance its services, Capital Bank, a subsidiary of Capital Bancorp, launched a new digital banking platform in partnership with Q2. This platform aims to offer a secure and modern banking experience for business customers. These developments highlight Capital Bancorp’s ongoing efforts to strengthen its market position and deliver value to its investors.
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