Kendall Capital Management Buys New Position in Capital Bancorp, Inc. (NASDAQ:CBNK)

Kendall Capital Management bought a new stake in Capital Bancorp, Inc. (NASDAQ:CBNK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 81,190 shares of the financial services provider’s stock, valued at approximately $1,664,000. Kendall Capital Management owned about 0.58% of Capital Bancorp at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CBNK. Comerica Bank raised its stake in Capital Bancorp by 41.3% in the 4th quarter. Comerica Bank now owns 49,356 shares of the financial services provider’s stock valued at $1,194,000 after purchasing an additional 14,427 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Capital Bancorp by 80.9% during the 1st quarter. BNP Paribas Financial Markets now owns 4,942 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 2,210 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Capital Bancorp by 4.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,200 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 575 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Capital Bancorp by 8.1% during the 1st quarter. Empowered Funds LLC now owns 82,066 shares of the financial services provider’s stock valued at $1,709,000 after acquiring an additional 6,125 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Capital Bancorp by 3.5% during the 1st quarter. Russell Investments Group Ltd. now owns 101,302 shares of the financial services provider’s stock valued at $2,110,000 after acquiring an additional 3,454 shares during the last quarter. Institutional investors and hedge funds own 56.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Capital Bancorp from $25.00 to $27.00 and gave the company a “market perform” rating in a research note on Tuesday, July 23rd. Hovde Group upped their price objective on shares of Capital Bancorp from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th.

Insider Buying and Selling

In related news, Director Mary Ann Scully purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was purchased at an average price of $25.14 per share, for a total transaction of $50,280.00. Following the acquisition, the director now directly owns 13,536 shares in the company, valued at $340,295.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 32.50% of the company’s stock.

Capital Bancorp Stock Down 0.4 %

CBNK opened at $25.35 on Thursday. The firm has a 50 day moving average price of $24.44 and a 200 day moving average price of $21.63. The company has a market cap of $352.16 million, a PE ratio of 10.83 and a beta of 0.47. 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 quick ratio of 1.00 and a current ratio of 1.01.

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

Capital Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Monday, August 5th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Monday, August 5th. This is an increase from Capital Bancorp’s previous quarterly dividend of $0.08. Capital Bancorp’s dividend payout ratio is 17.09%.

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.