Connor Clark & Lunn Investment Management Ltd. Acquires 9,798 Shares of Capital Bancorp, Inc. (NASDAQ:CBNK)

Connor Clark & Lunn Investment Management Ltd. increased its position in Capital Bancorp, Inc. (NASDAQ:CBNK) by 91.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,537 shares of the financial services provider’s stock after acquiring an additional 9,798 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.12% of Capital Bancorp worth $585,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Fourthstone LLC grew its position in Capital Bancorp by 104.6% during the third quarter. Fourthstone LLC now owns 51,551 shares of the financial services provider’s stock valued at $1,325,000 after buying an additional 26,358 shares during the period. Wedge Capital Management L L P NC boosted its position in shares of Capital Bancorp by 31.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 93,993 shares of the financial services provider’s stock worth $2,679,000 after acquiring an additional 22,381 shares during the last quarter. Salzhauer Michael bought a new stake in shares of Capital Bancorp in the fourth quarter worth about $490,000. Belvedere Trading LLC bought a new position in shares of Capital Bancorp during the 4th quarter valued at approximately $399,000. Finally, Bank of New York Mellon Corp raised its position in shares of Capital Bancorp by 17.5% during the 4th quarter. Bank of New York Mellon Corp now owns 61,699 shares of the financial services provider’s stock valued at $1,758,000 after buying an additional 9,173 shares in the last quarter. 56.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Randall James Levitt sold 14,500 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $32.30, for a total value of $468,350.00. Following the sale, the director now owns 100,000 shares in the company, valued at $3,230,000. This represents a 12.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 32.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CBNK. Hovde Group reduced their target price on shares of Capital Bancorp from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Monday, March 17th. Keefe, Bruyette & Woods boosted their target price on shares of Capital Bancorp from $32.00 to $35.00 and gave the company a “market perform” rating in a research note on Friday, February 7th.

Capital Bancorp Trading Down 1.0 %

NASDAQ CBNK opened at $28.60 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.02 and a current ratio of 1.03. The company has a market capitalization of $476.30 million, a price-to-earnings ratio of 13.43 and a beta of 0.54. The company’s 50-day simple moving average is $29.96 and its two-hundred day simple moving average is $28.02. Capital Bancorp, Inc. has a one year low of $19.02 and a one year high of $32.88.

Capital Bancorp (NASDAQ:CBNK) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.26. Capital Bancorp had a net margin of 12.66% and a return on equity of 14.89%. During the same period in the prior year, the business earned $0.65 earnings per share. Equities analysts forecast that Capital Bancorp, Inc. will post 3.17 EPS for the current fiscal year.

Capital Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, February 10th. Capital Bancorp’s payout ratio is 18.78%.

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.