Capital Bancorp, Inc. (NASDAQ:CBNK) Shares Purchased by Comerica Bank

Comerica Bank increased its stake in Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) by 30.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,398 shares of the financial services provider's stock after buying an additional 7,707 shares during the period. Comerica Bank owned 0.20% of Capital Bancorp worth $952,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Picton Mahoney Asset Management raised its holdings in Capital Bancorp by 123.0% in the 4th quarter. Picton Mahoney Asset Management now owns 1,135 shares of the financial services provider's stock worth $32,000 after purchasing an additional 626 shares during the period. Federated Hermes Inc. raised its holdings in Capital Bancorp by 194.7% in the 4th quarter. Federated Hermes Inc. now owns 3,528 shares of the financial services provider's stock worth $101,000 after purchasing an additional 2,331 shares during the period. SG Americas Securities LLC bought a new position in Capital Bancorp in the 4th quarter worth $109,000. Wells Fargo & Company MN raised its holdings in Capital Bancorp by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 5,400 shares of the financial services provider's stock worth $154,000 after purchasing an additional 1,177 shares during the period. Finally, First Trust Advisors LP bought a new position in Capital Bancorp in the 4th quarter worth $285,000. Hedge funds and other institutional investors own 56.14% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price target on Capital Bancorp from $33.00 to $35.00 and gave the stock a "market perform" rating in a research note on Monday, May 12th. Hovde Group cut their price objective on Capital Bancorp from $36.00 to $34.00 and set an "outperform" rating for the company in a research report on Monday, March 17th.

Capital Bancorp Trading Down 0.8%

CBNK traded down $0.28 on Friday, hitting $32.71. The company had a trading volume of 149,171 shares, compared to its average volume of 41,945. The company has a market cap of $544.85 million, a PE ratio of 15.36 and a beta of 0.70. Capital Bancorp, Inc. has a 12-month low of $19.45 and a 12-month high of $34.01. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. The business's fifty day simple moving average is $28.99 and its 200 day simple moving average is $29.21.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.21. The business had revenue of $58.60 million during the quarter, compared to the consensus estimate of $57.54 million. Capital Bancorp had a net margin of 12.66% and a return on equity of 14.89%. Equities research analysts expect that Capital Bancorp, Inc. will post 3.17 EPS for the current year.

Capital Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 12th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Monday, May 12th. Capital Bancorp's payout ratio is currently 16.13%.

Insiders Place Their Bets

In other Capital Bancorp news, COO Steven M. Poynot acquired 750 shares of Capital Bancorp stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average price of $33.35 per share, with a total value of $25,012.50. Following the completion of the purchase, the chief operating officer now directly owns 5,253 shares of the company's stock, valued at approximately $175,187.55. This represents a 16.66% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.59% of the stock is owned by insiders.

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.