Gator Capital Management LLC Acquires 54,129 Shares of Capital Bancorp, Inc. $CBNK

Key Points

• Gator Capital Management LLC increased its stake in Capital Bancorp, Inc. by 155.6%, acquiring an additional 54,129 shares, bringing its total ownership to 88,925 shares valued at approximately $2.5 million.
• Capital Bancorp's stock has a current ratio of 1.02 and a market cap of $547.14 million, with shares trading at around $33.00, reflecting a 1-year low of $22.77 and a high of $36.40.
• The company recently declared a quarterly dividend of $0.12 per share, an increase from the previous $0.10, with a projected annual yield of 1.5%.

Gator Capital Management LLC lifted its position in shares of Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) by 155.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,925 shares of the financial services provider's stock after purchasing an additional 54,129 shares during the quarter. Gator Capital Management LLC owned 0.53% of Capital Bancorp worth $2,519,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Capital Bancorp by 14.4% in the 4th quarter. Vanguard Group Inc. now owns 558,300 shares of the financial services provider's stock valued at $15,912,000 after acquiring an additional 70,420 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Capital Bancorp by 118.4% in the 4th quarter. JPMorgan Chase & Co. now owns 42,491 shares of the financial services provider's stock valued at $1,211,000 after acquiring an additional 23,033 shares in the last quarter. Geode Capital Management LLC lifted its position in Capital Bancorp by 15.9% in the 4th quarter. Geode Capital Management LLC now owns 240,893 shares of the financial services provider's stock valued at $6,867,000 after acquiring an additional 33,009 shares in the last quarter. Wells Fargo & Company MN lifted its position 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 valued at $154,000 after acquiring an additional 1,177 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Capital Bancorp by 8.1% in the 4th quarter. Russell Investments Group Ltd. now owns 107,119 shares of the financial services provider's stock valued at $3,053,000 after acquiring an additional 8,044 shares in the last quarter. 56.14% of the stock is owned by institutional investors.

Capital Bancorp Stock Performance

Shares of Capital Bancorp stock traded up $0.03 during trading on Tuesday, hitting $32.49. 39,613 shares of the stock were exchanged, compared to its average volume of 61,854. The company has a fifty day moving average price of $33.23 and a 200-day moving average price of $31.17. Capital Bancorp, Inc. has a 1-year low of $24.10 and a 1-year high of $36.40. The stock has a market capitalization of $538.68 million, a price-to-earnings ratio of 12.17 and a beta of 0.70. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.09.

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

Capital Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Monday, August 11th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, August 11th. This is a positive change from Capital Bancorp's previous quarterly dividend of $0.10. Capital Bancorp's payout ratio is currently 17.98%.

Analyst Ratings Changes

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

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.