Squarepoint Ops LLC Purchases 33,402 Shares of Capital Bancorp, Inc. $CBNK

Key Points

• Squarepoint Ops LLC increased its Capital Bancorp stake by 31.9% in the second quarter, purchasing 33,402 additional shares and bringing its holdings to 137,954 shares, or 0.85% of the company. Institutional investors collectively own 56.14% of CBNK.
• Capital Bancorp reported quarterly EPS of $0.87, exceeding analyst expectations of $0.82, although revenue of $65.29 million fell short of the $66.54 million estimate.
• The company raised its quarterly dividend from $0.12 to $0.14 per share, representing an annualized dividend of $0.56 and a 1.5% yield. Analysts maintain a “Moderate Buy” consensus rating with a $37.33 average price target.

Squarepoint Ops LLC raised its position in shares of Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) by 31.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 137,954 shares of the financial services provider's stock after purchasing an additional 33,402 shares during the quarter. Squarepoint Ops LLC owned 0.85% of Capital Bancorp worth $4,845,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CBNK. Advisory Services Network LLC purchased a new position in shares of Capital Bancorp during the 3rd quarter valued at $29,000. Legal & General Group Plc bought a new position in Capital Bancorp in the 2nd quarter worth $37,000. Aquatic Capital Management LLC purchased a new stake in Capital Bancorp in the 3rd quarter worth $61,000. California State Teachers Retirement System increased its stake in Capital Bancorp by 754.3% in the 2nd quarter. California State Teachers Retirement System now owns 5,408 shares of the financial services provider's stock worth $190,000 after buying an additional 4,775 shares in the last quarter. Finally, Franklin Resources Inc. bought a new stake in Capital Bancorp during the second quarter valued at about $201,000. 56.14% of the stock is owned by hedge funds and other institutional investors.

Capital Bancorp Stock Performance

CBNK opened at $36.25 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $590.51 million, a price-to-earnings ratio of 10.66 and a beta of 0.51. The company has a fifty day moving average of $36.52 and a 200 day moving average of $33.18. Capital Bancorp, Inc. has a fifty-two week low of $26.40 and a fifty-two week high of $38.83.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.82 by $0.05. The business had revenue of $65.29 million for the quarter, compared to analysts' expectations of $66.54 million. Capital Bancorp had a net margin of 17.47% and a return on equity of 13.14%. As a group, sell-side analysts forecast that Capital Bancorp, Inc. will post 3.46 earnings per share for the current fiscal year.

Capital Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 10th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, August 10th. This is a boost from Capital Bancorp's previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 1.5%. Capital Bancorp's dividend payout ratio is currently 16.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CBNK shares. Raymond James Financial assumed coverage on Capital Bancorp in a research note on Thursday, September 3rd. They issued a "market perform" rating for the company. Keefe, Bruyette & Woods lifted their target price on Capital Bancorp from $35.00 to $40.00 and gave the company a "market perform" rating in a research note on Monday, August 3rd. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Capital Bancorp in a report on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $37.33.

Capital Bancorp 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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