Wedge Capital Management L L P NC Boosts Holdings in Capital Bancorp, Inc. $CBNK

Wedge Capital Management L L P NC boosted its stake in Capital Bancorp, Inc. (NASDAQ:CBNK) by 51.1% in the second quarter, Holdings Channel.com reports. The firm owned 86,703 shares of the financial services provider’s stock after acquiring an additional 29,325 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Capital Bancorp were worth $3,045,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CBNK. Boston Partners increased its position in Capital Bancorp by 1.8% during the 3rd quarter. Boston Partners now owns 25,974 shares of the financial services provider’s stock worth $829,000 after purchasing an additional 457 shares in the last quarter. Creative Planning increased its stake in Capital Bancorp by 2.3% during the 3rd quarter. Creative Planning now owns 21,018 shares of the financial services provider’s stock worth $670,000 after buying an additional 482 shares during the period. First Trust Advisors LP lifted its stake in shares of Capital Bancorp by 6.4% in the second quarter. First Trust Advisors LP now owns 10,571 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 632 shares in the last quarter. Gator Capital Management LLC raised its position in shares of Capital Bancorp by 0.7% in the 4th quarter. Gator Capital Management LLC now owns 90,170 shares of the financial services provider’s stock valued at $2,540,000 after purchasing an additional 655 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its holdings in Capital Bancorp by 0.3% in the fourth quarter. Kennedy Capital Management LLC now owns 262,462 shares of the financial services provider’s stock valued at $7,394,000 after acquiring an additional 750 shares in the last quarter. 56.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Capital Bancorp Trading Down 0.1%

Shares of CBNK stock opened at $37.84 on Friday. Capital Bancorp, Inc. has a fifty-two week low of $26.40 and a fifty-two week high of $38.83. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The stock has a 50-day simple moving average of $35.46 and a 200 day simple moving average of $32.43. The stock has a market capitalization of $616.41 million, a P/E ratio of 11.13 and a beta of 0.52.

Capital Bancorp (NASDAQ:CBNK) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.05. The company 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%. On average, sell-side analysts expect 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. Shareholders of record on Monday, August 10th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, August 10th. This is a boost from Capital Bancorp’s previous quarterly dividend of $0.12. Capital Bancorp’s dividend payout ratio is presently 16.47%.

Capital Bancorp Profile

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.