Ackerman Asset Management LLC Makes New $1.02 Million Investment in Capital Bancorp, Inc. (NASDAQ:CBNK)

Ackerman Asset Management LLC bought a new stake in Capital Bancorp, Inc. (NASDAQ:CBNK) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 36,000 shares of the financial services provider’s stock, valued at approximately $1,020,000. Capital Bancorp accounts for about 0.9% of Ackerman Asset Management LLC’s investment portfolio, making the stock its 11th biggest holding.

Several other large investors have also recently bought and sold shares of the stock. Federated Hermes Inc. grew its position in shares of Capital Bancorp by 12.7% during the 1st quarter. Federated Hermes Inc. now owns 3,977 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 449 shares in the last quarter. Wells Fargo & Company MN increased its position in Capital Bancorp by 27.9% during the 4th 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 period. Jacobs Levy Equity Management Inc. increased its position in Capital Bancorp by 19.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 10,749 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 1,754 shares during the period. Bank of America Corp DE lifted its holdings in Capital Bancorp by 33.8% in the fourth quarter. Bank of America Corp DE now owns 11,365 shares of the financial services provider’s stock valued at $324,000 after buying an additional 2,873 shares during the period. Finally, Barclays PLC lifted its holdings in Capital Bancorp by 27.6% in the fourth 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 during the period. 56.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CBNK has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Capital Bancorp from $33.00 to $35.00 and gave the company a “market perform” rating in a research note on Monday, May 12th. Hovde Group upped their price objective on shares of Capital Bancorp from $35.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday.

Capital Bancorp Stock Performance

Shares of CBNK stock opened at $31.62 on Thursday. The stock has a market capitalization of $526.79 million, a P/E ratio of 11.84 and a beta of 0.69. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average is $33.28 and its 200 day moving average is $30.91. Capital Bancorp, Inc. has a 12 month low of $22.68 and a 12 month high of $36.40.

Capital Bancorp (NASDAQ:CBNK) last posted its earnings results on Monday, July 28th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.04). Capital Bancorp had a return on equity of 16.06% and a net margin of 15.14%. The firm had revenue of $60.75 million during the quarter, compared to analysts’ expectations of $61.29 million. On average, sell-side analysts anticipate that Capital Bancorp, Inc. will post 3.17 earnings per share for the current year.

Capital Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Monday, August 11th will be issued a $0.12 dividend. This is a positive change from Capital Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, August 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.52%. Capital Bancorp’s dividend payout ratio is presently 14.98%.

Insider Activity at Capital Bancorp

In other Capital Bancorp news, COO Steven M. Poynot bought 750 shares of Capital Bancorp stock in a transaction that occurred on Wednesday, May 14th. The shares were bought at an average price of $33.35 per share, with a total value of $25,012.50. Following the acquisition, the chief operating officer owned 5,253 shares in the company, valued at approximately $175,187.55. This trade represents a 16.66% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 31.59% of the company’s stock.

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.