Capital Bancorp, Inc. (NASDAQ:CBNK) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its holdings in shares of Capital Bancorp, Inc. (NASDAQ:CBNK) by 20.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,612 shares of the financial services provider’s stock after selling 18,457 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.52% of Capital Bancorp worth $1,841,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CBNK. BNP Paribas Financial Markets lifted its stake in Capital Bancorp by 80.9% in the 1st 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 in the last quarter. Janney Montgomery Scott LLC boosted 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 buying an additional 575 shares during the last quarter. Empowered Funds LLC grew its holdings in Capital Bancorp by 8.1% in the 1st quarter. Empowered Funds LLC now owns 82,066 shares of the financial services provider’s stock valued at $1,709,000 after buying an additional 6,125 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Capital Bancorp by 3.5% in the 1st quarter. Russell Investments Group Ltd. now owns 101,302 shares of the financial services provider’s stock worth $2,110,000 after acquiring an additional 3,454 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Capital Bancorp by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 437,034 shares of the financial services provider’s stock worth $9,103,000 after acquiring an additional 4,019 shares during the period. Hedge funds and other institutional investors own 56.14% of the company’s stock.

Capital Bancorp Stock Up 1.1 %

Shares of CBNK opened at $25.87 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.05. The firm has a market cap of $359.39 million, a P/E ratio of 11.06 and a beta of 0.47. The company’s 50-day moving average price is $24.83 and its 200 day moving average price is $22.28. Capital Bancorp, Inc. has a 12-month low of $19.02 and a 12-month high of $26.20.

Capital Bancorp (NASDAQ:CBNK) last issued its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.59 EPS 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, sell-side analysts forecast that Capital Bancorp, Inc. will post 2.59 earnings per share for the current year.

Capital Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Monday, August 5th were paid a $0.10 dividend. The ex-dividend date was Monday, August 5th. This is a boost from Capital Bancorp’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.55%. Capital Bancorp’s payout ratio is presently 17.09%.

Insider Activity at Capital Bancorp

In other news, Director Mary Ann Scully bought 2,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was bought at an average cost of $25.14 per share, for a total transaction of $50,280.00. Following the acquisition, the director now directly owns 13,536 shares of the company’s stock, valued at $340,295.04. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 32.50% of the company’s stock.

Analysts Set New Price Targets

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

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.