Ameriprise Financial Inc. lessened its position in Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) by 62.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 135,078 shares of the financial services provider's stock after selling 229,232 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.82% of Capital Bancorp worth $3,850,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC lifted its stake in shares of Capital Bancorp by 0.4% in the 4th quarter. Empowered Funds LLC now owns 89,479 shares of the financial services provider's stock valued at $2,550,000 after purchasing an additional 369 shares during the period. Picton Mahoney Asset Management increased its position in Capital Bancorp by 123.0% during the 4th quarter. Picton Mahoney Asset Management now owns 1,135 shares of the financial services provider's stock valued at $32,000 after buying an additional 626 shares in the last quarter. Rhumbline Advisers increased its position in Capital Bancorp by 5.9% during the 4th quarter. Rhumbline Advisers now owns 15,407 shares of the financial services provider's stock valued at $439,000 after buying an additional 854 shares in the last quarter. Wealthspire Advisors LLC increased its position in Capital Bancorp by 1.5% during the 4th quarter. Wealthspire Advisors LLC now owns 78,172 shares of the financial services provider's stock valued at $2,228,000 after buying an additional 1,130 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Capital Bancorp by 27.9% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 56.14% of the company's stock.
Capital Bancorp Stock Down 0.3%
CBNK stock traded down $0.10 on Friday, reaching $32.39. 55,178 shares of the company traded hands, compared to its average volume of 44,016. Capital Bancorp, Inc. has a one year low of $19.45 and a one year high of $34.31. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 1.02. The company has a market cap of $539.52 million, a P/E ratio of 15.21 and a beta of 0.70. The firm has a fifty day simple moving average of $29.79 and a 200-day simple moving average of $29.55.
Capital Bancorp (NASDAQ:CBNK - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.21. Capital Bancorp had a return on equity of 14.89% and a net margin of 12.66%. The firm had revenue of $58.60 million during the quarter, compared to analysts' expectations of $57.54 million. Research analysts anticipate that Capital Bancorp, Inc. will post 3.17 earnings per share for the current year.
Capital Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 12th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.23%. The ex-dividend date was Monday, May 12th. Capital Bancorp's dividend payout ratio is currently 16.13%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on CBNK. Keefe, Bruyette & Woods raised their price objective on Capital Bancorp from $33.00 to $35.00 and gave the company a "market perform" rating in a research report on Monday, May 12th. Hovde Group reduced their price objective on Capital Bancorp from $36.00 to $34.00 and set an "outperform" rating for the company in a research report on Monday, March 17th.
Get Our Latest Report on Capital Bancorp
Insider Buying and Selling at Capital Bancorp
In related news, COO Steven M. Poynot bought 750 shares of the stock in a transaction on Wednesday, May 14th. The shares were acquired at an average price of $33.35 per share, for a total transaction of $25,012.50. Following the purchase, the chief operating officer now owns 5,253 shares of the company's stock, valued at approximately $175,187.55. The trade was a 16.66% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 31.59% of the company's stock.
Capital Bancorp Profile
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Free Report)
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.
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