Hotchkis & Wiley Capital Management LLC Invests $2.82 Million in Capital Bancorp, Inc. $CBNK

Key Points

• Hotchkis & Wiley Capital Management LLC invested $2.82 million in Capital Bancorp, acquiring 99,400 shares, which represents about 0.60% of the company.
• Analysts have adjusted price targets for Capital Bancorp, with Keefe, Bruyette & Woods increasing their target from $33.00 to $35.00, while Hovde Group raised it to $39.00.
• Capital Bancorp recently declared a quarterly dividend of $0.12 per share, marking an increase from the previous $0.10, resulting in an annualized yield of 1.4%.

Hotchkis & Wiley Capital Management LLC bought a new position in shares of Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 99,400 shares of the financial services provider's stock, valued at approximately $2,816,000. Hotchkis & Wiley Capital Management LLC owned about 0.60% of Capital Bancorp at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC bought a new position in Capital Bancorp during the first quarter worth $464,000. Russell Investments Group Ltd. lifted its stake in shares of Capital Bancorp by 6.7% during the 1st quarter. Russell Investments Group Ltd. now owns 114,276 shares of the financial services provider's stock worth $3,237,000 after buying an additional 7,157 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Capital Bancorp by 12.9% during the 4th quarter. Northern Trust Corp now owns 89,869 shares of the financial services provider's stock worth $2,561,000 after buying an additional 10,245 shares during the period. Ackerman Asset Management LLC bought a new stake in shares of Capital Bancorp during the 1st quarter worth about $1,020,000. Finally, Bank of America Corp DE grew its stake 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 valued at $324,000 after buying an additional 2,873 shares during the last quarter. Institutional investors and hedge funds own 56.14% of the company's stock.

Analysts Set New Price Targets

CBNK has been the subject of several research reports. Keefe, Bruyette & Woods raised their price objective on shares of Capital Bancorp from $33.00 to $35.00 and gave the stock a "market perform" rating in a research report on Monday, May 12th. Hovde Group increased their target price on Capital Bancorp from $35.00 to $39.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen cut Capital Bancorp from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.00.

Capital Bancorp Stock Performance

NASDAQ CBNK opened at $34.31 on Wednesday. The firm has a 50-day moving average price of $33.43 and a two-hundred day moving average price of $31.25. Capital Bancorp, Inc. has a 12-month low of $24.10 and a 12-month high of $36.40. The company has a market capitalization of $569.00 million, a P/E ratio of 12.85 and a beta of 0.70. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.09.

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

Capital Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Monday, August 11th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, August 11th. This is a positive change from Capital Bancorp's previous quarterly dividend of $0.10. Capital Bancorp's dividend payout ratio is currently 17.98%.

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.

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