Ategra Capital Management LLC Purchases New Shares in Capital Bancorp, Inc. $CBNK

Key Points

• Ategra Capital Management purchased 231,256 shares of Capital Bancorp in the second quarter, worth approximately $8.1 million and representing a 1.42% stake. Institutional investors collectively own 56.14% of the company.
• Analysts maintain a “Moderate Buy” consensus rating, with a $37.33 average price target. Capital Bancorp recently reported quarterly EPS of $0.87, beating estimates by $0.05.
• The company increased its quarterly dividend from $0.12 to $0.14 per share, equivalent to a $0.56 annualized payout and a 1.5% yield.

Ategra Capital Management LLC bought a new position in Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 231,256 shares of the financial services provider's stock, valued at approximately $8,122,000. Capital Bancorp makes up approximately 3.7% of Ategra Capital Management LLC's investment portfolio, making the stock its 11th largest position. Ategra Capital Management LLC owned 1.42% of Capital Bancorp at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Militia Capital Management LLC bought a new stake in shares of Capital Bancorp during the first quarter valued at approximately $1,398,000. Wedge Capital Management L L P NC grew its holdings in shares of Capital Bancorp by 51.1% in the second quarter. Wedge Capital Management L L P NC now owns 86,703 shares of the financial services provider's stock worth $3,045,000 after acquiring an additional 29,325 shares during the period. De Lisle Partners LLP bought a new stake in shares of Capital Bancorp during the 2nd quarter valued at about $2,667,000. Kendall Capital Management bought a new position in shares of Capital Bancorp in the 2nd quarter worth approximately $1,861,000. Finally, Sei Investments Co. increased its holdings in Capital Bancorp by 104.1% during the first quarter. Sei Investments Co. now owns 167,222 shares of the financial services provider's stock valued at $4,973,000 after buying an additional 85,293 shares during the last quarter. 56.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Capital Bancorp Stock Up 0.1%

NASDAQ CBNK opened at $36.56 on Tuesday. Capital Bancorp, Inc. has a 52 week low of $26.40 and a 52 week high of $38.83. The firm has a market cap of $595.56 million, a PE ratio of 10.75 and a beta of 0.52. The business's fifty day simple moving average is $35.97 and its 200-day simple moving average is $32.74. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.12.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.05. The business had revenue of $65.29 million for 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%. As a group, equities analysts anticipate that Capital Bancorp, Inc. will post 3.43 earnings per share for the current year.

Capital Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 10th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.5%. This is a positive change from Capital Bancorp's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Monday, August 10th. Capital Bancorp's dividend payout ratio (DPR) is currently 16.47%.

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. 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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