Kendall Capital Management Buys Shares of 53,000 Capital Bancorp, Inc. $CBNK

Key Points

• Kendall Capital Management initiated a position in Capital Bancorp by purchasing 53,000 shares valued at approximately $1.86 million, representing about 0.33% of the company. Institutional investors and hedge funds collectively own 56.14% of CBNK.
• Capital Bancorp reported quarterly EPS of $0.87, beating analysts’ $0.82 estimate, while revenue of $65.29 million fell short of the $66.54 million consensus forecast.
• The company raised its quarterly dividend from $0.12 to $0.14 per share, equivalent to a $0.56 annualized dividend and a 1.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $37.33.

Kendall Capital Management bought a new position in shares of Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 53,000 shares of the financial services provider's stock, valued at approximately $1,861,000. Kendall Capital Management owned approximately 0.33% of Capital Bancorp as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Advisory Services Network LLC purchased a new position in shares of Capital Bancorp in the 3rd quarter valued at about $29,000. State of Alaska Department of Revenue boosted its holdings in Capital Bancorp by 135.1% during the fourth quarter. State of Alaska Department of Revenue now owns 1,580 shares of the financial services provider's stock worth $43,000 after buying an additional 908 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in Capital Bancorp during the third quarter worth about $61,000. Franklin Resources Inc. acquired a new position in Capital Bancorp during the second quarter worth about $201,000. Finally, HRT Financial LP acquired a new position in Capital Bancorp during the fourth quarter worth about $205,000. 56.14% of the stock is owned by institutional investors and hedge funds.

Capital Bancorp Trading Down 0.4%

NASDAQ:CBNK opened at $36.53 on Friday. Capital Bancorp, Inc. has a 52-week low of $26.40 and a 52-week high of $38.83. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $35.91 and a 200-day simple moving average of $32.70. The company has a market capitalization of $595.07 million, a PE ratio of 10.74 and a beta of 0.52.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.05. Capital Bancorp had a net margin of 17.47% and a return on equity of 13.14%. The firm had revenue of $65.29 million for the quarter, compared to analysts' expectations of $66.54 million. On average, equities research analysts expect that Capital Bancorp, Inc. will post 3.43 earnings per share for the current fiscal year.

Capital Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.5%. This is a boost from Capital Bancorp's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Monday, August 10th. Capital Bancorp's payout ratio is currently 16.47%.

Analyst Upgrades and Downgrades

CBNK has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Capital Bancorp in a report on Tuesday, June 30th. Keefe, Bruyette & Woods upped their price target on Capital Bancorp from $35.00 to $40.00 and gave the stock a "market perform" rating in a report on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $37.33.

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. The company offers a range of deposit products, including checking and savings, time, interest bearing and noninterest-bearing demand, and money market accounts, as well as certificates of deposit; and credit cards.

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