American Century Companies Inc. Grows Stock Holdings in Capital Bancorp, Inc. $CBNK

Key Points

• American Century Companies Inc. increased its stake in Capital Bancorp, now owning 149,662 shares, a 75.1% increase in Q1, valued at approximately $4.24 million.
• Despite the increase in institutional holdings, Capital Bancorp's stock recently opened at $33.99, reflecting a 1.5% decrease.
• The company raised its quarterly dividend from $0.10 to $0.12, translating to an annualized yield of 1.4% for shareholders.

American Century Companies Inc. lifted its position in Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) by 75.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,662 shares of the financial services provider's stock after acquiring an additional 64,213 shares during the quarter. American Century Companies Inc. owned 0.90% of Capital Bancorp worth $4,240,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Federated Hermes Inc. increased its position in Capital Bancorp by 12.7% during the 1st quarter. Federated Hermes Inc. now owns 3,977 shares of the financial services provider's stock valued at $113,000 after purchasing an additional 449 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Capital Bancorp by 5.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,664 shares of the financial services provider's stock valued at $614,000 after purchasing an additional 1,127 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Capital Bancorp by 27.9% during the fourth quarter. Wells Fargo & Company MN now owns 5,400 shares of the financial services provider's stock valued at $154,000 after buying an additional 1,177 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Capital Bancorp by 19.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 10,749 shares of the financial services provider's stock valued at $306,000 after buying an additional 1,754 shares during the period. Finally, Bank of America Corp DE raised its stake in Capital Bancorp by 33.8% in the fourth quarter. Bank of America Corp DE now owns 11,365 shares of the financial services provider's stock worth $324,000 after buying an additional 2,873 shares in the last quarter. 56.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Capital Bancorp

In related news, Director Randall James Levitt sold 37,338 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $34.37, for a total value of $1,283,307.06. Following the completion of the transaction, the director owned 60,000 shares in the company, valued at $2,062,200. This trade represents a 38.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 32.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CBNK. Hovde Group increased their target price on Capital Bancorp from $35.00 to $39.00 and gave the company an "outperform" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods upped their price objective 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. Finally, Wall Street Zen downgraded Capital Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

Capital Bancorp Stock Down 0.5%

Shares of CBNK stock traded down $0.19 during trading hours on Wednesday, reaching $33.70. 13,535 shares of the company's stock were exchanged, compared to its average volume of 60,973. The stock has a market cap of $558.66 million, a PE ratio of 12.62 and a beta of 0.74. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.09. The stock's fifty day moving average price is $33.66 and its two-hundred day moving average price is $31.32. Capital Bancorp, Inc. has a 1 year low of $24.10 and a 1 year high of $36.40.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.85 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.04). The company had revenue of $60.75 million during the quarter, compared to analysts' expectations of $61.29 million. Capital Bancorp had a net margin of 15.14% and a return on equity of 15.54%. Research analysts predict that Capital Bancorp, Inc. will post 3.17 EPS for the current year.

Capital Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Monday, August 11th were paid a dividend of $0.12 per share. The ex-dividend date was Monday, August 11th. This is an increase from Capital Bancorp's previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. Capital Bancorp's payout ratio is presently 17.98%.

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.