CapStar Financial Holdings, Inc. (NASDAQ:CSTR) Brief Interest Update
CapStar Financial Holdings, Inc. (NASDAQ:CSTR – Get Rating) benefited from a significant drop in short interest in August. As of August 31, there was short interest totaling 216,400 shares, a decrease of 9.6% from the total of 239,300 shares as of August 15. Currently, 1.2% of the company’s shares are sold short. Based on an average daily trading volume of 42,100 shares, the short-term interest rate ratio is currently 5.1 days.
CapStar Awards Financial Performance
NASDAQ CSTR shares opened at $19.85 on Monday. CapStar Financial has a fifty-two week low of $18.63 and a fifty-two week high of $22.74. The company has a 50-day simple moving average of $20.52 and a two-hundred-day simple moving average of $20.50. The company has a market capitalization of $438.01 million, a price-earnings ratio of 9.54 and a beta of 0.95. The company has a debt ratio of 0.21, a quick ratio of 0.89 and a current ratio of 0.92.
CapStar Financial (NASDAQ:CSTR – Get Rating) last announced its results on Thursday, July 21. The bank reported EPS of $0.45 for the quarter, missing analyst consensus estimates of $0.47 per ($0.02). CapStar Financial had a return on equity of 12.52% and a net margin of 33.89%. During the same period of the previous year, the company made earnings per share of $0.55. Analysts expect CapStar Financial to post EPS of 1.94 for the current fiscal year.
CapStar Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 24. Shareholders of record on Wednesday August 10 received a dividend of $0.10 per share. This represents an annualized dividend of $0.40 and a yield of 2.02%. The ex-dividend date was Tuesday August 9th. CapStar Financial’s payout ratio is 19.23%.
Institutional investors weigh in on CapStar Financial
A number of institutional investors and hedge funds have recently shifted their CSTR holdings. FJ Capital Management LLC increased its equity stake in CapStar Financial by 586.2% in Q1. FJ Capital Management LLC now owns 693,036 shares of the bank valued at $14,609,000 after acquiring an additional 592,036 shares during the period. JPMorgan Chase & Co. increased its stake in CapStar Financial by 78.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 256,045 shares of the bank valued at $5,023,000 after acquiring an additional 112,796 shares during the period. Bank of Montreal Can bought a new position in CapStar Financial in Q4 worth approximately $2,124,000. Russell Investments Group Ltd. increased its stake in CapStar Financial by 21.9% in the 1st quarter. Russell Investments Group Ltd. now owns 351,756 shares of the bank valued at $7,412,000 after purchasing an additional 63,269 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in CapStar Financial by 56.1% during the first quarter. Wellington Management Group LLP now owns 153,609 shares in the bank worth $3,239,000 after acquiring an additional 55,197 shares in the last quarter. 43.55% of the shares are held by institutional investors.
Analyst upgrades and downgrades
Several analysts have published reports on the company. Raymond James downgraded CapStar Financial from an “outperform” rating to a “market performance” rating in a Thursday, July 7 research note. Truist Financial cut its price target on CapStar Financial shares to $21.00 in a research note on Thursday.
About CapStar Financial
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CapStar Financial Holdings, Inc operates as a bank holding company for CapStar Bank which provides consumer and business banking services located primarily in Tennessee, United States. Its deposit products and services include demand deposits, interest-bearing transaction accounts, money market accounts, term and savings deposits, certificates of deposit and CDARS reciprocal products.
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