Wedge Capital Management L L P NC Sells 24,602 Shares of Capital Bancorp, Inc. (NASDAQ:CBNK)

Wedge Capital Management L L P NC reduced its position in Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) by 26.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 69,391 shares of the financial services provider's stock after selling 24,602 shares during the period. Wedge Capital Management L L P NC owned 0.42% of Capital Bancorp worth $1,966,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Capital Bancorp by 91.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,537 shares of the financial services provider's stock valued at $585,000 after buying an additional 9,798 shares in the last quarter. Northern Trust Corp grew its holdings in Capital Bancorp by 12.9% during the 4th quarter. Northern Trust Corp now owns 89,869 shares of the financial services provider's stock valued at $2,561,000 after buying an additional 10,245 shares in the last quarter. Barclays PLC grew its holdings in Capital Bancorp by 27.6% during the 4th quarter. Barclays PLC now owns 15,208 shares of the financial services provider's stock valued at $433,000 after buying an additional 3,290 shares in the last quarter. JPMorgan Chase & Co. grew 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 valued at $1,211,000 after buying an additional 23,033 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Capital Bancorp by 15.9% during the 4th quarter. Geode Capital Management LLC now owns 240,893 shares of the financial services provider's stock valued at $6,867,000 after buying an additional 33,009 shares in the last quarter. 56.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Capital Bancorp from $33.00 to $35.00 and gave the company a "market perform" rating in a report on Monday, May 12th. Hovde Group reduced their target price on Capital Bancorp from $36.00 to $34.00 and set an "outperform" rating for the company in a report on Monday, March 17th.

Capital Bancorp Price Performance

CBNK stock traded down $0.86 during mid-day trading on Friday, reaching $31.57. 62,374 shares of the company traded hands, compared to its average volume of 45,569. Capital Bancorp, Inc. has a 52-week low of $19.45 and a 52-week high of $34.31. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 1.02. The company has a market capitalization of $525.86 million, a P/E ratio of 14.82 and a beta of 0.68. The company has a fifty day moving average price of $30.63 and a 200-day moving average price of $29.81.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.67 by $0.21. Capital Bancorp had a return on equity of 14.89% and a net margin of 12.66%. The company had revenue of $58.60 million during the quarter, compared to analyst estimates of $57.54 million. As a group, analysts anticipate that Capital Bancorp, Inc. will post 3.17 earnings per share for the current 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 annualized dividend 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 news, COO Steven M. Poynot bought 750 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was acquired at an average price of $33.35 per share, with a total value of $25,012.50. Following the completion of the purchase, the chief operating officer now directly owns 5,253 shares in the company, valued at $175,187.55. This represents a 16.66% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 32.50% of the stock is owned by insiders.

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.