Capital Bancorp, Inc. $CBNK Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its holdings in Capital Bancorp, Inc. (NASDAQ:CBNK) by 51.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,703 shares of the financial services provider’s stock after acquiring an additional 29,325 shares during the period. Wedge Capital Management L L P NC owned 0.53% of Capital Bancorp worth $3,045,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Militia Capital Management LLC purchased a new position in shares of Capital Bancorp during the 1st quarter worth approximately $1,398,000. Sei Investments Co. grew its stake in Capital Bancorp by 104.1% during the 1st quarter. Sei Investments Co. now owns 167,222 shares of the financial services provider’s stock worth $4,973,000 after purchasing an additional 85,293 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Capital Bancorp by 5.1% during the first quarter. Dimensional Fund Advisors LP now owns 355,466 shares of the financial services provider’s stock worth $10,571,000 after buying an additional 17,264 shares in the last quarter. Militia Capital Partners LP acquired a new position in Capital Bancorp during the 4th quarter worth approximately $1,324,000. Finally, HRT Financial LP acquired a new position in shares of Capital Bancorp during the fourth quarter worth $205,000. Hedge funds and other institutional investors own 56.14% of the company’s stock.

Wall Street Analyst Weigh In

CBNK has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price target on Capital Bancorp from $35.00 to $40.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Capital Bancorp in a research report on Tuesday, June 30th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Capital Bancorp currently has an average rating of “Moderate Buy” and an average target price of $37.33.

Capital Bancorp Stock Performance

Shares of CBNK stock opened at $37.84 on Friday. The stock has a market cap of $616.41 million, a PE ratio of 11.13 and a beta of 0.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.03. Capital Bancorp, Inc. has a 1 year low of $26.40 and a 1 year high of $38.83. The stock has a fifty day moving average price of $35.46 and a 200 day moving average price of $32.43.

Capital Bancorp (NASDAQ:CBNK) last issued its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. The firm had revenue of $65.29 million for the quarter, compared to analysts’ expectations of $66.54 million. Capital Bancorp had a net margin of 17.47% and a return on equity of 13.30%. Sell-side analysts forecast that Capital Bancorp, Inc. will post 3.43 earnings per share for the current fiscal year.

Capital Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 10th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, August 10th. This is an increase from Capital Bancorp’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. Capital Bancorp’s dividend payout ratio is 16.47%.

About Capital Bancorp

Capital Bancorp, Inc operates as the bank holding company for Capital Bank, N.A. that provides various banking products and services to businesses, not-for-profit associations, and entrepreneurs in Maryland, Virginia, and the District of Columbia. It operates through Commercial Banking, Capital Bank Home Loans, and OpenSky segments. The company offers a range of deposit products, including checking and savings, time, interest bearing and noninterest-bearing demand, and money market accounts, as well as certificates of deposit; and credit cards.