104,336 Shares in Capital Bancorp, Inc. $CBNK Acquired by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 104,336 Capital Bancorp shares worth approximately $3.664 million, giving it a 0.64% stake. Institutional investors collectively own 56.14% of the company.
• Capital Bancorp reported quarterly EPS of $0.87, exceeding the $0.82 consensus estimate, while revenue of $65.29 million fell slightly short of expectations. Analysts project full-year EPS of $3.43.
• The company raised its quarterly dividend from $0.12 to $0.14 per share, representing an annualized dividend of $0.56 and a 1.6% yield. Analysts maintain a “Moderate Buy” consensus with a $37.33 target price.

Empowered Funds LLC acquired a new stake in shares of Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 104,336 shares of the financial services provider's stock, valued at approximately $3,664,000. Empowered Funds LLC owned 0.64% of Capital Bancorp at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new stake in Capital Bancorp in the third quarter worth $29,000. Legal & General Group Plc acquired a new position in shares of Capital Bancorp during the second quarter valued at $37,000. Aquatic Capital Management LLC acquired a new position in shares of Capital Bancorp during the third quarter valued at $61,000. Franklin Resources Inc. bought a new position in shares of Capital Bancorp during the second quarter worth about $201,000. Finally, HRT Financial LP bought a new position in shares of Capital Bancorp during the fourth quarter worth about $205,000. 56.14% of the stock is currently owned by institutional investors.

Capital Bancorp Price Performance

Shares of CBNK opened at $35.95 on Wednesday. Capital Bancorp, Inc. has a one year low of $26.40 and a one year high of $38.83. The stock's fifty day moving average is $36.31 and its 200-day moving average is $32.91. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $585.63 million, a price-to-earnings ratio of 10.57 and a beta of 0.51.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.05. The business had revenue of $65.29 million during the quarter, compared to the consensus estimate of $66.54 million. Capital Bancorp had a net margin of 17.47% and a return on equity of 13.14%. Equities analysts anticipate that Capital Bancorp, Inc. will post 3.43 EPS for the current year.

Capital Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th were given a dividend of $0.14 per share. This is a positive change from Capital Bancorp's previous quarterly dividend of $0.12. The ex-dividend date was Monday, August 10th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.6%. Capital Bancorp's payout ratio is presently 16.47%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CBNK shares. Keefe, Bruyette & Woods lifted their price objective on shares of Capital Bancorp from $35.00 to $40.00 and gave the company a "market perform" rating in a research report on Monday, August 3rd. Weiss Ratings restated a "buy (b)" rating on shares of Capital Bancorp in a research report on Tuesday, June 30th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.33.

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. The company offers a range of deposit products, including checking and savings, time, interest bearing and noninterest-bearing demand, and money market accounts, as well as certificates of deposit; and credit cards.

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