Geode Capital Management LLC Buys 33,009 Shares of Capital Bancorp, Inc. (NASDAQ:CBNK)

Geode Capital Management LLC raised its stake in Capital Bancorp, Inc. (NASDAQ:CBNK) by 15.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 240,893 shares of the financial services provider’s stock after acquiring an additional 33,009 shares during the quarter. Geode Capital Management LLC owned about 1.45% of Capital Bancorp worth $6,867,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CBNK. Alliancebernstein L.P. boosted its stake in Capital Bancorp by 70.4% in the 4th quarter. Alliancebernstein L.P. now owns 614,473 shares of the financial services provider’s stock valued at $17,512,000 after purchasing an additional 253,819 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Capital Bancorp by 14.4% during 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 in the last quarter. HighPoint Advisor Group LLC bought a new stake in shares of Capital Bancorp in the fourth quarter valued at about $1,191,000. American Century Companies Inc. grew its stake in shares of Capital Bancorp by 79.1% in the fourth quarter. American Century Companies Inc. now owns 85,449 shares of the financial services provider’s stock valued at $2,435,000 after acquiring an additional 37,746 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Capital Bancorp by 118.4% during the fourth quarter. JPMorgan Chase & Co. now owns 42,491 shares of the financial services provider’s stock worth $1,211,000 after acquiring an additional 23,033 shares during the period. 56.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Hovde Group decreased their target price on shares of Capital Bancorp from $36.00 to $34.00 and set an “outperform” rating on the stock in a research report on Monday, March 17th. Keefe, Bruyette & Woods increased their price target on Capital Bancorp from $32.00 to $35.00 and gave the stock a “market perform” rating in a research report on Friday, February 7th.

Capital Bancorp Trading Up 0.6 %

Shares of Capital Bancorp stock opened at $28.42 on Friday. 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 12-month low of $19.26 and a 12-month high of $32.88. The company has a market capitalization of $473.39 million, a price-to-earnings ratio of 13.34 and a beta of 0.52. The firm’s 50-day moving average price is $28.50 and its two-hundred day moving average price is $28.43.

Capital Bancorp (NASDAQ:CBNK) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.26. Capital Bancorp had a net margin of 12.66% and a return on equity of 14.89%. During the same period in the previous year, the business earned $0.65 EPS. On average, analysts forecast that Capital Bancorp, Inc. will post 3.17 earnings per share for the current fiscal year.

Capital Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.41%. Capital Bancorp’s dividend payout ratio (DPR) is currently 18.78%.

Insider Buying and Selling

In other news, Director Randall James Levitt sold 14,500 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.30, for a total value of $468,350.00. Following the completion of the transaction, the director now owns 100,000 shares of the company’s stock, valued at approximately $3,230,000. This represents a 12.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 32.50% of the stock is owned by corporate insiders.

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.