Bank of New York Mellon Corp Grows Holdings in Capital Bancorp, Inc. (NASDAQ:CBNK)

Bank of New York Mellon Corp increased its position in shares of Capital Bancorp, Inc. (NASDAQ:CBNK) by 17.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 61,699 shares of the financial services provider’s stock after purchasing an additional 9,173 shares during the period. Bank of New York Mellon Corp’s holdings in Capital Bancorp were worth $1,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Fourthstone LLC lifted its stake in Capital Bancorp by 104.6% in the third quarter. Fourthstone LLC now owns 51,551 shares of the financial services provider’s stock valued at $1,325,000 after buying an additional 26,358 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake 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 valued at $2,679,000 after buying an additional 22,381 shares during the last quarter. Salzhauer Michael bought a new stake in Capital Bancorp in the fourth quarter valued at $490,000. Belvedere Trading LLC acquired a new position in shares of Capital Bancorp during the fourth quarter valued at $399,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Capital Bancorp during the third quarter valued at $276,000. 56.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Randall James Levitt sold 14,500 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $32.30, for a total value of $468,350.00. Following the completion of the sale, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $3,230,000. This represents a 12.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 32.50% of the company’s stock.

Capital Bancorp Price Performance

NASDAQ CBNK opened at $28.60 on Friday. Capital Bancorp, Inc. has a 1 year low of $19.02 and a 1 year high of $32.88. The business’s fifty day moving average is $29.96 and its two-hundred day moving average is $28.02. The stock has a market capitalization of $476.30 million, a P/E ratio of 13.43 and a beta of 0.54. 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) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.26. Capital Bancorp had a return on equity of 14.89% and a net margin of 12.66%. During the same period last year, the business posted $0.65 earnings per share. On average, research analysts forecast that Capital Bancorp, Inc. will post 3.17 earnings per share for the current fiscal year.

Capital Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were given a $0.10 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.40%. Capital Bancorp’s dividend payout ratio (DPR) is 18.78%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CBNK. Keefe, Bruyette & Woods raised their target price on shares of Capital Bancorp from $32.00 to $35.00 and gave the company a “market perform” rating in a research note on Friday, February 7th. Hovde Group decreased their price objective on shares of 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 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.