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

Wedge Capital Management L L P NC lessened its holdings in Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) by 26.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 approximately 0.42% of Capital Bancorp worth $1,966,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CBNK. Empowered Funds LLC grew its position in shares of Capital Bancorp by 0.4% during the fourth quarter. Empowered Funds LLC now owns 89,479 shares of the financial services provider's stock worth $2,550,000 after acquiring an additional 369 shares during the last quarter. Picton Mahoney Asset Management raised its stake in shares of Capital Bancorp by 123.0% during the 4th quarter. Picton Mahoney Asset Management now owns 1,135 shares of the financial services provider's stock worth $32,000 after buying an additional 626 shares during the last quarter. Rhumbline Advisers lifted its stake in Capital Bancorp by 5.9% in the 4th quarter. Rhumbline Advisers now owns 15,407 shares of the financial services provider's stock valued at $439,000 after buying an additional 854 shares in the last quarter. Wealthspire Advisors LLC grew its holdings in shares of Capital Bancorp by 1.5% during the fourth quarter. Wealthspire Advisors LLC now owns 78,172 shares of the financial services provider's stock worth $2,228,000 after buying an additional 1,130 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Capital Bancorp by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 5,400 shares of the financial services provider's stock valued at $154,000 after purchasing an additional 1,177 shares during the last quarter. Hedge funds and other institutional investors own 56.14% of the company's stock.

Insider Buying and Selling

In related news, COO Steven M. Poynot bought 750 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was purchased at an average price of $33.35 per share, with a total value of $25,012.50. Following the completion of the transaction, the chief operating officer now directly owns 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 32.50% of the stock is currently owned by corporate insiders.

Capital Bancorp Trading Down 2.7%

Shares of NASDAQ CBNK traded down $0.86 during mid-day trading on Friday, hitting $31.57. 62,374 shares of the company traded hands, compared to its average volume of 45,461. The business has a 50 day moving average of $30.63 and a two-hundred day moving average of $29.80. Capital Bancorp, Inc. has a 1 year low of $19.45 and a 1 year high of $34.31. 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 capitalization of $525.86 million, a price-to-earnings ratio of 14.82 and a beta of 0.68.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.67 by $0.21. Capital Bancorp had a net margin of 12.66% and a return on equity of 14.89%. The business had revenue of $58.60 million for the quarter, compared to analysts' expectations of $57.54 million. On average, sell-side analysts anticipate that Capital Bancorp, Inc. will post 3.17 earnings per share for the current fiscal year.

Capital Bancorp Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.27%. Capital Bancorp's dividend payout ratio is currently 16.13%.

Analysts Set New Price Targets

Several research firms have commented on CBNK. Keefe, Bruyette & Woods raised their price objective on Capital Bancorp from $33.00 to $35.00 and gave the company a "market perform" rating in a research report on Monday, May 12th. Hovde Group dropped their price objective on shares of Capital Bancorp from $36.00 to $34.00 and set an "outperform" rating on the stock in a report on Monday, March 17th.

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.