Pacific Ridge Capital Partners LLC Sells 11,429 Shares of Capital Bancorp, Inc. (NASDAQ:CBNK)

Key Points

• Pacific Ridge Capital Partners LLC reduced its holdings in Capital Bancorp by 4.8%, now owning 225,818 shares valued at approximately $6.4 million, making it their 19th largest investment.
• Analysts have differing opinions on the stock, with Keefe, Bruyette & Woods raising the price target to $35, while Wall Street Zen downgraded it from "buy" to "hold."
• Capital Bancorp has announced an increase in its quarterly dividend from $0.10 to $0.12 per share, effective August 27, representing a dividend yield of 1.6%.

Pacific Ridge Capital Partners LLC reduced its stake in Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 225,818 shares of the financial services provider's stock after selling 11,429 shares during the period. Capital Bancorp makes up approximately 1.7% of Pacific Ridge Capital Partners LLC's holdings, making the stock its 19th largest holding. Pacific Ridge Capital Partners LLC owned approximately 1.36% of Capital Bancorp worth $6,397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. lifted its holdings in Capital Bancorp by 79.1% during the 4th quarter. American Century Companies Inc. now owns 85,449 shares of the financial services provider's stock worth $2,435,000 after buying an additional 37,746 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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 buying an additional 70,420 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Capital Bancorp by 118.4% during the 4th quarter. JPMorgan Chase & Co. now owns 42,491 shares of the financial services provider's stock worth $1,211,000 after purchasing an additional 23,033 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Capital Bancorp by 6.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 66,348 shares of the financial services provider's stock worth $1,891,000 after purchasing an additional 3,949 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Capital Bancorp by 70.4% during the 4th quarter. Alliancebernstein L.P. now owns 614,473 shares of the financial services provider's stock worth $17,512,000 after purchasing an additional 253,819 shares in the last quarter. 56.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Capital Bancorp

In other Capital Bancorp news, COO Steven M. Poynot bought 750 shares of the stock in a transaction dated Wednesday, May 14th. The shares were bought at an average cost of $33.35 per share, with a total value of $25,012.50. Following the completion of the acquisition, the chief operating officer owned 5,253 shares of the company's stock, valued at $175,187.55. This trade represents a 16.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 32.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CBNK shares. Hovde Group raised their price objective on Capital Bancorp from $35.00 to $39.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Wall Street Zen downgraded shares of Capital Bancorp from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods raised their target price on shares of Capital Bancorp from $33.00 to $35.00 and gave the company a "market perform" rating in a research note on Monday, May 12th.

Capital Bancorp Stock Performance

NASDAQ:CBNK traded up $0.08 during mid-day trading on Wednesday, hitting $31.45. The stock had a trading volume of 21,973 shares, compared to its average volume of 61,307. Capital Bancorp, Inc. has a twelve month low of $22.77 and a twelve month high of $36.40. The stock has a market cap of $523.96 million, a price-to-earnings ratio of 11.78 and a beta of 0.70. The company's 50 day simple moving average is $33.17 and its 200 day simple moving average is $31.02. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.01 and a current ratio of 1.03.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.04). The company 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 16.06% and a net margin of 15.14%. On average, equities research analysts forecast that Capital Bancorp, Inc. will post 3.17 earnings per share for the current year.

Capital Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Monday, August 11th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.5%. This is a boost from Capital Bancorp's previous quarterly dividend of $0.10. The ex-dividend date is Monday, August 11th. Capital Bancorp's dividend payout ratio (DPR) is 14.98%.

About Capital Bancorp

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.