Kendall Capital Management Makes New $1.66 Million Investment in Capital Bancorp, Inc. (NASDAQ:CBNK)

Kendall Capital Management bought a new stake in shares of Capital Bancorp, Inc. (NASDAQ:CBNK) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 81,190 shares of the financial services provider’s stock, valued at approximately $1,664,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CBNK. Lazard Asset Management LLC purchased a new position in shares of Capital Bancorp during the 1st quarter valued at approximately $26,000. BNP Paribas Financial Markets lifted its stake in Capital Bancorp by 80.9% during the first quarter. BNP Paribas Financial Markets now owns 4,942 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 2,210 shares during the last quarter. Renaissance Technologies LLC bought a new position in Capital Bancorp during the second quarter worth $256,000. Janney Montgomery Scott LLC lifted its stake in Capital Bancorp by 4.6% during the first quarter. Janney Montgomery Scott LLC now owns 13,200 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 575 shares during the last quarter. Finally, Kennedy Capital Management LLC lifted its stake in Capital Bancorp by 3.7% during the first quarter. Kennedy Capital Management LLC now owns 38,210 shares of the financial services provider’s stock worth $796,000 after purchasing an additional 1,361 shares during the last quarter. 56.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Hovde Group raised their price objective on Capital Bancorp from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods raised their price objective on Capital Bancorp from $25.00 to $27.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 23rd.

Capital Bancorp Price Performance

Shares of NASDAQ CBNK opened at $25.35 on Thursday. Capital Bancorp, Inc. has a 1-year low of $18.56 and a 1-year high of $26.20. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.01 and a quick ratio of 1.00. The business’s fifty day moving average price is $24.44 and its two-hundred day moving average price is $21.63. The firm has a market capitalization of $352.16 million, a PE ratio of 10.83 and a beta of 0.47.

Capital Bancorp (NASDAQ:CBNK) last issued its earnings results on Monday, July 22nd. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). Capital Bancorp had a return on equity of 13.34% and a net margin of 15.35%. The company had revenue of $57.51 million during the quarter, compared to analyst estimates of $42.70 million. On average, research analysts expect that Capital Bancorp, Inc. will post 1.89 EPS for the current year.

Capital Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Monday, August 5th were given a $0.10 dividend. The ex-dividend date was Monday, August 5th. This is a positive change from Capital Bancorp’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 1.58%. Capital Bancorp’s dividend payout ratio (DPR) is currently 17.09%.

Insiders Place Their Bets

In related news, Director Mary Ann Scully bought 2,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were purchased at an average cost of $25.14 per share, with a total value of $50,280.00. Following the completion of the transaction, the director now directly owns 13,536 shares of the company’s stock, valued at $340,295.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 32.50% of the stock is owned by corporate insiders.

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.