Bank of New York Mellon Corp Invests $1.76 Million in Capital Bancorp, Inc. $CBNK

Key Points

• Bank of New York Mellon acquired 50,184 Capital Bancorp shares worth approximately $1.76 million, giving it a 0.31% stake. Institutional investors collectively own 56.14% of CBNK.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $37.33; Keefe, Bruyette & Woods raised its target to $40 while retaining a market-perform rating.
• Capital Bancorp exceeded quarterly EPS estimates, reporting $0.87 versus the expected $0.82, and increased its quarterly dividend to $0.14 from $0.12, implying a 1.5% annualized yield.

Bank of New York Mellon Corp purchased a new position in Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 50,184 shares of the financial services provider's stock, valued at approximately $1,762,000. Bank of New York Mellon Corp owned approximately 0.31% of Capital Bancorp at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CBNK. Advisory Services Network LLC purchased a new stake in Capital Bancorp during the 3rd quarter valued at about $29,000. Aquatic Capital Management LLC purchased a new stake in shares of Capital Bancorp during the third quarter valued at approximately $61,000. Franklin Resources Inc. bought a new stake in shares of Capital Bancorp during the second quarter valued at approximately $201,000. HRT Financial LP bought a new stake in shares of Capital Bancorp during the fourth quarter valued at approximately $205,000. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of Capital Bancorp during the fourth quarter valued at approximately $209,000. 56.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CBNK shares. Weiss Ratings restated a "buy (b)" rating on shares of Capital Bancorp in a report on Tuesday, June 30th. Raymond James Financial began coverage on Capital Bancorp in a report on Thursday, September 3rd. They issued a "market perform" rating for the company. Finally, Keefe, Bruyette & Woods boosted their price target on 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 equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $37.33.

Capital Bancorp Stock Down 1.7%

CBNK opened at $36.36 on Wednesday. Capital Bancorp, Inc. has a twelve month low of $26.40 and a twelve month high of $38.83. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average price of $36.49 and a 200-day moving average price of $33.08. The stock has a market capitalization of $592.30 million, a price-to-earnings ratio of 10.69 and a beta of 0.51.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last posted its earnings results on Monday, July 27th. The financial services provider reported $0.87 EPS for the quarter, topping analysts' consensus estimates 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 research analysts forecast that Capital Bancorp, Inc. will post 3.43 earnings per share for the current year.

Capital Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th were paid a $0.14 dividend. This is an increase 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 1.5%. Capital Bancorp's dividend payout ratio (DPR) is 16.47%.

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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