Wedge Capital Management L L P NC Has $2.68 Million Position in Capital Bancorp, Inc. (NASDAQ:CBNK)

Wedge Capital Management L L P NC grew its position in Capital Bancorp, Inc. (NASDAQ:CBNK) by 31.3% during the 4th quarter, Holdings Channel reports. The firm owned 93,993 shares of the financial services provider’s stock after purchasing an additional 22,381 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Capital Bancorp were worth $2,679,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CBNK. Dimensional Fund Advisors LP grew its stake in Capital Bancorp by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 227,234 shares of the financial services provider’s stock worth $4,658,000 after buying an additional 9,461 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Capital Bancorp during the 2nd quarter worth approximately $256,000. Squarepoint Ops LLC bought a new position in Capital Bancorp in the 2nd quarter valued at $304,000. Pacific Ridge Capital Partners LLC boosted its stake in Capital Bancorp by 14.3% in the second quarter. Pacific Ridge Capital Partners LLC now owns 208,364 shares of the financial services provider’s stock worth $4,271,000 after purchasing an additional 26,091 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in Capital Bancorp by 5.2% in the third quarter. Empowered Funds LLC now owns 89,110 shares of the financial services provider’s stock worth $2,291,000 after purchasing an additional 4,422 shares in the last quarter. Institutional investors own 56.14% of the company’s stock.

Insider Activity

In other news, COO Steven M. Poynot purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average cost of $25.36 per share, for a total transaction of $50,720.00. Following the transaction, the chief operating officer now directly owns 4,503 shares of the company’s stock, valued at approximately $114,196.08. The trade was a 79.90 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Dominic C. Canuso acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $25.52 per share, with a total value of $25,520.00. Following the acquisition, the chief financial officer now owns 2,000 shares of the company’s stock, valued at approximately $51,040. This trade represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. 32.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their price target on Capital Bancorp from $28.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Capital Bancorp Trading Up 2.3 %

CBNK stock opened at $29.07 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. Capital Bancorp, Inc. has a twelve month low of $19.02 and a twelve month high of $31.22. The company has a market cap of $481.34 million, a P/E ratio of 12.48 and a beta of 0.51. The business has a fifty day moving average of $28.70 and a 200-day moving average of $26.04.

Capital Bancorp (NASDAQ:CBNK) last released its earnings results on Monday, October 28th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). Capital Bancorp had a net margin of 14.49% and a return on equity of 12.66%. The business had revenue of $59.25 million for the quarter. As a group, equities research analysts expect that Capital Bancorp, Inc. will post 2.37 EPS for the current year.

Capital Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Monday, November 4th. Capital Bancorp’s payout ratio is 17.17%.

About Capital Bancorp

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.