Renaissance Technologies LLC Boosts Position in Capital Bancorp, Inc. (NASDAQ:CBNK)

Renaissance Technologies LLC boosted its stake in Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) by 27.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,500 shares of the financial services provider's stock after purchasing an additional 8,400 shares during the quarter. Renaissance Technologies LLC owned about 0.23% of Capital Bancorp worth $1,097,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its holdings in shares of Capital Bancorp by 70.4% in the 4th quarter. Alliancebernstein L.P. now owns 614,473 shares of the financial services provider's stock worth $17,512,000 after buying an additional 253,819 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Capital Bancorp by 14.4% in the fourth quarter. Vanguard Group Inc. now owns 558,300 shares of the financial services provider's stock worth $15,912,000 after buying an additional 70,420 shares during the period. HighPoint Advisor Group LLC bought a new stake in shares of Capital Bancorp during the fourth quarter worth $1,191,000. 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 valued at $2,435,000 after buying an additional 37,746 shares in the last quarter. Finally, Gator Capital Management LLC purchased a new stake in shares of Capital Bancorp in the fourth quarter valued at approximately $992,000. 56.14% of the stock is owned by institutional investors.

Insider Activity at Capital Bancorp

In other Capital Bancorp 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 owns 100,000 shares of the company's stock, valued at $3,230,000. This represents a 12.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 31.59% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Hovde Group dropped their target price 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. Keefe, Bruyette & Woods increased their price target on Capital Bancorp from $32.00 to $35.00 and gave the company a "market perform" rating in a research note on Friday, February 7th.

Capital Bancorp Stock Performance

NASDAQ CBNK traded up $0.33 during trading hours on Friday, reaching $31.39. The stock had a trading volume of 69,202 shares, compared to its average volume of 39,282. The stock has a market cap of $522.86 million, a P/E ratio of 14.74 and a beta of 0.52. Capital Bancorp, Inc. has a 52-week low of $19.45 and a 52-week high of $32.88. The stock has a fifty day moving average of $28.33 and a 200 day moving average of $28.66. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.02 and a current ratio of 1.03.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last announced its quarterly 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. 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 analysts' expectations of $57.54 million. Sell-side analysts predict 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 will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 12th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, May 12th. Capital Bancorp's payout ratio is currently 16.13%.

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.