JPMorgan Chase & Co. Raises Stock Holdings in Capital Bancorp, Inc. (NASDAQ:CBNK)

JPMorgan Chase & Co. grew its position in shares of Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) by 118.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,491 shares of the financial services provider's stock after buying an additional 23,033 shares during the quarter. JPMorgan Chase & Co. owned 0.26% of Capital Bancorp worth $1,211,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC lifted its position in Capital Bancorp by 297.3% during the third quarter. Barclays PLC now owns 11,918 shares of the financial services provider's stock valued at $306,000 after purchasing an additional 8,918 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Capital Bancorp by 91.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,537 shares of the financial services provider's stock worth $585,000 after buying an additional 9,798 shares during the last quarter. Wedge Capital Management L L P NC raised its position in Capital Bancorp by 31.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 93,993 shares of the financial services provider's stock worth $2,679,000 after acquiring an additional 22,381 shares during the period. Vanguard Group Inc. boosted its stake in shares of Capital Bancorp by 14.4% during the 4th quarter. Vanguard Group Inc. now owns 558,300 shares of the financial services provider's stock worth $15,912,000 after acquiring an additional 70,420 shares during the last quarter. Finally, Belvedere Trading LLC bought a new stake in shares of Capital Bancorp during the 4th quarter valued at $399,000. Institutional investors own 56.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Capital Bancorp from $32.00 to $35.00 and gave the company a "market perform" rating in a research report on Friday, February 7th. Hovde Group cut their price objective on Capital Bancorp from $36.00 to $34.00 and set an "outperform" rating for the company in a research note on Monday, March 17th.

Capital Bancorp Price Performance

Shares of CBNK traded up $0.14 during trading hours on Thursday, reaching $31.73. 1,809 shares of the stock traded hands, compared to its average volume of 38,638. The company's 50-day moving average price is $28.30 and its two-hundred day moving average price is $28.56. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23. Capital Bancorp, Inc. has a 52-week low of $19.45 and a 52-week high of $32.88. The company has a market cap of $528.44 million, a P/E ratio of 14.89 and a beta of 0.52.

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

Capital Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 12th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Monday, May 12th. Capital Bancorp's payout ratio is presently 16.13%.

Insider Activity at Capital Bancorp

In other news, Director Randall James Levitt sold 14,500 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $32.30, for a total transaction of $468,350.00. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at approximately $3,230,000. This represents a 12.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.59% of the stock is owned by corporate insiders.

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.