Mackenzie Financial Corp Makes New Investment in Capital Bancorp, Inc. (NASDAQ:CBNK)

Mackenzie Financial Corp purchased a new position in shares of Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 17,496 shares of the financial services provider's stock, valued at approximately $499,000. Mackenzie Financial Corp owned about 0.11% of Capital Bancorp as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Picton Mahoney Asset Management grew its stake in Capital Bancorp by 123.0% in 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 during the last quarter. Federated Hermes Inc. grew its stake in Capital Bancorp by 194.7% in the 4th quarter. Federated Hermes Inc. now owns 3,528 shares of the financial services provider's stock valued at $101,000 after buying an additional 2,331 shares during the last quarter. SG Americas Securities LLC acquired a new position in Capital Bancorp in the 4th quarter valued at $109,000. Wells Fargo & Company MN grew its stake 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 buying an additional 1,177 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in Capital Bancorp in the 4th quarter valued at $219,000. Institutional investors and hedge funds own 56.14% of the company's stock.

Capital Bancorp Stock Performance

NASDAQ CBNK traded up $0.80 during midday trading on Friday, hitting $31.62. The company had a trading volume of 38,934 shares, compared to its average volume of 44,726. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. The stock has a market cap of $526.69 million, a price-to-earnings ratio of 14.85 and a beta of 0.68. The firm has a fifty day simple moving average of $30.10 and a two-hundred day simple moving average of $29.68. Capital Bancorp, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $34.31.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.21. The company had revenue of $58.60 million during the quarter, compared to the consensus estimate of $57.54 million. Capital Bancorp had a net margin of 12.66% and a return on equity of 14.89%. Equities analysts forecast that Capital Bancorp, Inc. will post 3.17 earnings per share for the current fiscal year.

Capital Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 12th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Monday, May 12th. Capital Bancorp's payout ratio is 16.13%.

Insider Transactions at Capital Bancorp

In other Capital Bancorp news, COO Steven M. Poynot purchased 750 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was purchased at an average cost of $33.35 per share, with a total value of $25,012.50. Following the acquisition, the chief operating officer now directly owns 5,253 shares of the company's stock, valued at approximately $175,187.55. This trade represents a 16.66% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 31.59% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CBNK has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their price target 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 decreased their price target on shares of Capital Bancorp from $36.00 to $34.00 and set an "outperform" rating on the stock in a research report on Monday, March 17th.

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.