Elizabeth Park Capital Advisors Ltd. Has $3.55 Million Holdings in Capital Bancorp, Inc. $CBNK

Key Points

• Elizabeth Park Capital Advisors Ltd. boosted its stake in Capital Bancorp, Inc. by 21.3%, now holding 125,213 shares, making it the firm's 7th largest holding.
• Brokerages have recently adjusted their ratings for Capital Bancorp, with Keefe, Bruyette & Woods raising their price objective to $35.00, while Hovde Group set a new target of $39.00.
• Capital Bancorp announced an increase to its quarterly dividend, raising it from $0.10 to $0.12, resulting in a dividend yield of 1.4%.

Elizabeth Park Capital Advisors Ltd. raised its position in shares of Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) by 21.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,213 shares of the financial services provider's stock after buying an additional 21,948 shares during the period. Capital Bancorp comprises about 3.2% of Elizabeth Park Capital Advisors Ltd.'s investment portfolio, making the stock its 7th biggest holding. Elizabeth Park Capital Advisors Ltd. owned approximately 0.75% of Capital Bancorp worth $3,547,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. boosted 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 buying an additional 449 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Capital Bancorp by 5.5% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,664 shares of the financial services provider's stock worth $614,000 after purchasing an additional 1,127 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Capital Bancorp by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 5,400 shares of the financial services provider's stock worth $154,000 after purchasing an additional 1,177 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Capital Bancorp by 19.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 10,749 shares of the financial services provider's stock worth $306,000 after purchasing an additional 1,754 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Capital Bancorp by 33.8% in the 4th quarter. Bank of America Corp DE now owns 11,365 shares of the financial services provider's stock worth $324,000 after purchasing an additional 2,873 shares in the last quarter. Hedge funds and other institutional investors own 56.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CBNK shares. Hovde Group upped their price objective on shares of Capital Bancorp from $35.00 to $39.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods upped their price objective on shares of Capital Bancorp from $33.00 to $35.00 and gave the stock a "market perform" rating in a report on Monday, May 12th. Finally, Wall Street Zen lowered shares of Capital Bancorp from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

Capital Bancorp Stock Down 1.5%

Shares of Capital Bancorp stock traded down $0.51 during trading on Monday, hitting $33.99. The company's stock had a trading volume of 49,495 shares, compared to its average volume of 60,498. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.01 and a current ratio of 1.02. The company has a fifty day simple moving average of $33.61 and a two-hundred day simple moving average of $31.29. The company has a market capitalization of $563.55 million, a PE ratio of 12.73 and a beta of 0.74. Capital Bancorp, Inc. has a 52 week low of $24.10 and a 52 week high of $36.40.

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

Capital Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Monday, August 11th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, August 11th. This is a positive change from Capital Bancorp's previous quarterly dividend of $0.10. Capital Bancorp's dividend payout ratio (DPR) is 17.98%.

Insider Activity

In related news, Director Randall James Levitt sold 37,338 shares of the stock in a transaction dated Wednesday, August 27th. The shares were 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 directly 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 Securities & Exchange Commission, which is available through this hyperlink. 32.50% of the stock is currently owned by insiders.

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.