Bank of New York Mellon Corp Boosts Holdings in Capital Bancorp, Inc. (NASDAQ:CBNK)

Bank of New York Mellon Corp lifted its position in shares of Capital Bancorp, Inc. (NASDAQ:CBNK) by 6.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,111 shares of the financial services provider’s stock after purchasing an additional 3,331 shares during the period. Bank of New York Mellon Corp owned about 0.43% of Capital Bancorp worth $1,212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Kennedy Capital Management LLC lifted its stake in shares of Capital Bancorp by 3.7% in the first quarter. Kennedy Capital Management LLC now owns 38,210 shares of the financial services provider’s stock worth $796,000 after acquiring an additional 1,361 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Capital Bancorp in the 1st quarter valued at approximately $26,000. Acadian Asset Management LLC boosted its stake in shares of Capital Bancorp by 11.9% during the 1st quarter. Acadian Asset Management LLC now owns 55,567 shares of the financial services provider’s stock valued at $1,155,000 after buying an additional 5,893 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Capital Bancorp by 0.9% during the first quarter. Vanguard Group Inc. now owns 437,034 shares of the financial services provider’s stock worth $9,103,000 after buying an additional 4,019 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Capital Bancorp by 3.5% in the first quarter. Russell Investments Group Ltd. now owns 101,302 shares of the financial services provider’s stock worth $2,110,000 after buying an additional 3,454 shares during the last quarter. 56.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Capital Bancorp

In other news, Director Mary Ann Scully purchased 2,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were bought at an average price of $25.14 per share, for a total transaction of $50,280.00. Following the completion of the purchase, the director now owns 13,536 shares of the company’s stock, valued at $340,295.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 32.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods increased 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 increased their price target 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.

Capital Bancorp Stock Performance

CBNK stock opened at $25.94 on Friday. The stock’s 50 day simple moving average is $24.62 and its 200 day simple moving average is $21.70. Capital Bancorp, Inc. has a 12-month low of $18.56 and a 12-month high of $26.20. The firm has a market cap of $360.36 million, a P/E ratio of 11.09 and a beta of 0.47. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.05.

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 analysts’ consensus estimates of $0.60 by ($0.01). The company had revenue of $57.51 million for the quarter, compared to the consensus estimate of $42.70 million. Capital Bancorp had a return on equity of 13.34% and a net margin of 15.35%. As a group, equities research analysts predict that Capital Bancorp, Inc. will post 1.89 EPS for the current year.

Capital Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Monday, August 5th were given a $0.10 dividend. 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. This represents a $0.40 annualized dividend and a yield of 1.54%. Capital Bancorp’s dividend payout ratio (DPR) is currently 17.09%.

Capital Bancorp Company 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.