Rhumbline Advisers Has $420,000 Position in Capital Bancorp, Inc. $CBNK

Rhumbline Advisers reduced its stake in shares of Capital Bancorp, Inc. (NASDAQ:CBNK) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,833 shares of the financial services provider’s stock after selling 574 shares during the quarter. Rhumbline Advisers’ holdings in Capital Bancorp were worth $420,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. raised its stake in Capital Bancorp by 12.7% during the first quarter. Federated Hermes Inc. now owns 3,977 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 449 shares in the last quarter. Bank of America Corp DE raised its stake in Capital Bancorp by 33.8% during the fourth quarter. Bank of America Corp DE now owns 11,365 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 2,873 shares in the last quarter. AQR Capital Management LLC raised its stake in Capital Bancorp by 48.4% during the first quarter. AQR Capital Management LLC now owns 13,299 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 4,336 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Capital Bancorp in the first quarter valued at $464,000. Finally, Arcus Capital Partners LLC acquired a new stake in shares of Capital Bancorp in the first quarter valued at $481,000. 56.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Capital Bancorp

In other news, Director Randall James Levitt sold 37,338 shares of Capital Bancorp stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $34.37, for a total transaction of $1,283,307.06. Following the transaction, the director owned 60,000 shares in the company, valued at $2,062,200. The trade was a 38.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 32.50% of the stock is owned by company insiders.

Capital Bancorp Price Performance

Shares of CBNK opened at $32.35 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.09. Capital Bancorp, Inc. has a 1 year low of $24.10 and a 1 year high of $36.40. The stock has a market cap of $536.49 million, a P/E ratio of 12.12 and a beta of 0.74. The stock’s 50-day moving average price is $33.29 and its two-hundred day moving average price is $31.62.

Capital Bancorp (NASDAQ:CBNK) last issued its earnings results on Monday, July 28th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.04). Capital Bancorp had a return on equity of 15.54% and a net margin of 15.14%.The company had revenue of $60.75 million for the quarter, compared to the consensus estimate of $61.29 million. On average, equities analysts predict that Capital Bancorp, Inc. will post 3.17 earnings per share for the current year.

Capital Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Monday, August 11th were issued a dividend of $0.12 per share. This is a boost from Capital Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, August 11th. This represents a $0.48 annualized dividend and a dividend yield of 1.5%. Capital Bancorp’s dividend payout ratio (DPR) is presently 17.98%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CBNK. Hovde Group raised their target price on Capital Bancorp from $35.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Wall Street Zen lowered Capital Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Capital Bancorp currently has an average rating of “Moderate Buy” and an average price target of $37.00.

Capital Bancorp 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.