Geode Capital Management LLC Purchases 424 Shares of Capital Bancorp, Inc. (NASDAQ:CBNK)

Geode Capital Management LLC raised its position in shares of Capital Bancorp, Inc. (NASDAQ:CBNK) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,884 shares of the financial services provider’s stock after acquiring an additional 424 shares during the period. Geode Capital Management LLC owned approximately 1.26% of Capital Bancorp worth $5,345,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Kendall Capital Management bought a new stake in Capital Bancorp during the 2nd quarter valued at approximately $1,664,000. Wealthspire Advisors LLC bought a new stake in shares of Capital Bancorp in the second quarter valued at approximately $1,577,000. Fourthstone LLC grew its stake in shares of Capital Bancorp by 104.6% in the third quarter. Fourthstone LLC now owns 51,551 shares of the financial services provider’s stock worth $1,325,000 after acquiring an additional 26,358 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its position in Capital Bancorp by 14.3% during the second quarter. Pacific Ridge Capital Partners LLC now owns 208,364 shares of the financial services provider’s stock worth $4,271,000 after acquiring an additional 26,091 shares during the period. Finally, Acadian Asset Management LLC raised its stake in Capital Bancorp by 32.0% during the 2nd quarter. Acadian Asset Management LLC now owns 73,351 shares of the financial services provider’s stock valued at $1,502,000 after purchasing an additional 17,784 shares during the last quarter. 56.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Dominic C. Canuso purchased 1,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average price of $25.52 per share, with a total value of $25,520.00. Following the completion of the acquisition, the chief financial officer now directly owns 2,000 shares in the company, valued at approximately $51,040. This trade represents a 100.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Steven M. Poynot bought 2,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $25.36 per share, with a total value of $50,720.00. Following the transaction, the chief operating officer now owns 4,503 shares of the company’s stock, valued at $114,196.08. The trade was a 79.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 32.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their target price on Capital Bancorp from $28.00 to $32.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Capital Bancorp Price Performance

Capital Bancorp stock opened at $28.03 on Friday. The business has a 50 day simple moving average of $28.44 and a 200 day simple moving average of $25.46. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 1.02. The company has a market capitalization of $464.12 million, a PE ratio of 12.03 and a beta of 0.51. Capital Bancorp, Inc. has a one year low of $19.02 and a one year high of $31.22.

Capital Bancorp (NASDAQ:CBNK) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). Capital Bancorp had a net margin of 14.49% and a return on equity of 12.66%. The company had revenue of $59.25 million for the quarter. On average, sell-side analysts forecast that Capital Bancorp, Inc. will post 2.37 EPS for the current fiscal year.

Capital Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, November 4th. This represents a $0.40 annualized dividend and a yield of 1.43%. Capital Bancorp’s dividend payout ratio is 17.17%.

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.