BlackRock Inc. Purchases Shares of 786,588 Capital Bancorp, Inc. $CBNK

Key Points

• BlackRock initiated a significant position in Capital Bancorp, purchasing 786,588 shares valued at approximately $27.6 million, equivalent to about 4.83% of the company. Institutional investors collectively own 56.14% of CBNK.
• Capital Bancorp reported quarterly earnings of $0.87 per share, exceeding analyst expectations of $0.82, while revenue of $65.29 million fell short of estimates. Analysts expect full-year earnings of $3.43 per share.
• The company increased its quarterly dividend from $0.12 to $0.14 per share, representing a $0.56 annualized payout and a 1.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $37.33.

BlackRock Inc. purchased a new position in 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 (SEC). The institutional investor purchased 786,588 shares of the financial services provider's stock, valued at approximately $27,625,000. BlackRock Inc. owned approximately 4.83% of Capital Bancorp as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Alliancebernstein L.P. grew its stake in shares of Capital Bancorp by 1.2% during the 2nd quarter. Alliancebernstein L.P. now owns 622,483 shares of the financial services provider's stock valued at $20,903,000 after acquiring an additional 7,510 shares during the period. Dimensional Fund Advisors LP increased its holdings in Capital Bancorp by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 355,466 shares of the financial services provider's stock worth $10,571,000 after acquiring an additional 17,264 shares in the last quarter. Geode Capital Management LLC raised its stake in Capital Bancorp by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 340,712 shares of the financial services provider's stock worth $9,600,000 after acquiring an additional 5,016 shares during the period. Kennedy Capital Management LLC raised its stake in Capital Bancorp by 0.3% during the 4th quarter. Kennedy Capital Management LLC now owns 262,462 shares of the financial services provider's stock worth $7,394,000 after acquiring an additional 750 shares during the period. Finally, Sei Investments Co. lifted 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 purchasing an additional 85,293 shares in the last quarter. 56.14% of the stock is owned by hedge funds and other institutional investors.

Capital Bancorp Stock Up 1.3%

Shares of CBNK opened at $36.43 on Thursday. The stock has a market capitalization of $593.44 million, a price-to-earnings ratio of 10.71 and a beta of 0.51. Capital Bancorp, Inc. has a 1 year low of $26.40 and a 1 year high of $38.83. The business's 50 day simple moving average is $36.35 and its 200-day simple moving average is $32.94. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.03 and a quick ratio of 1.03.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last posted its earnings results on Monday, July 27th. The financial services provider reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.05. Capital Bancorp had a net margin of 17.47% and a return on equity of 13.14%. The firm had revenue of $65.29 million during the quarter, compared to analyst estimates of $66.54 million. As a group, equities analysts expect that Capital Bancorp, Inc. will post 3.43 earnings per share for the current fiscal year.

Capital Bancorp Increases Dividend

The firm also recently disclosed 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 represents a $0.56 annualized dividend and a yield of 1.5%. This is an increase from Capital Bancorp's previous quarterly dividend of $0.12. The ex-dividend date was Monday, August 10th. Capital Bancorp's dividend payout ratio (DPR) is 16.47%.

Wall Street Analyst Weigh In

CBNK has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Capital Bancorp in a research report on Tuesday, June 30th. Keefe, Bruyette & Woods raised 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. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Capital Bancorp has an average rating of "Moderate Buy" and an average target price of $37.33.

Capital Bancorp 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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