Russell Investments Group Ltd. Buys 7,157 Shares of Capital Bancorp, Inc. $CBNK

Russell Investments Group Ltd. grew its stake in shares of Capital Bancorp, Inc. (NASDAQ:CBNK) by 6.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,276 shares of the financial services provider’s stock after acquiring an additional 7,157 shares during the quarter. Russell Investments Group Ltd. owned about 0.69% of Capital Bancorp worth $3,237,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Federated Hermes Inc. increased its stake in Capital Bancorp by 12.7% during the 1st quarter. Federated Hermes Inc. now owns 3,977 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 449 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Capital Bancorp by 5.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,664 shares of the financial services provider’s stock valued at $614,000 after acquiring an additional 1,127 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Capital Bancorp by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 5,400 shares of the financial services provider’s stock worth $154,000 after acquiring an additional 1,177 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Capital Bancorp by 19.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 10,749 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 1,754 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Capital Bancorp by 33.8% in the 4th quarter. Bank of America Corp DE now owns 11,365 shares of the financial services provider’s stock valued at $324,000 after acquiring an additional 2,873 shares in the last quarter. Institutional investors own 56.14% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CBNK. Wall Street Zen lowered Capital Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Keefe, Bruyette & Woods lifted their price objective on Capital Bancorp from $33.00 to $35.00 and gave the stock a “market perform” rating in a report on Monday, May 12th. Finally, Hovde Group upped their target price on shares of Capital Bancorp from $35.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.00.

Capital Bancorp Stock Performance

CBNK opened at $34.48 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.01 and a current ratio of 1.02. The stock has a market capitalization of $571.82 million, a price-to-earnings ratio of 12.91 and a beta of 0.70. The company has a fifty day moving average of $33.31 and a 200 day moving average of $31.22. Capital Bancorp, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $36.40.

Capital Bancorp (NASDAQ:CBNK) last released its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.85 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.04). Capital Bancorp had a net margin of 15.14% and a return on equity of 15.54%. The company had revenue of $60.75 million for the quarter, compared to the consensus estimate of $61.29 million. As a group, sell-side analysts forecast that Capital Bancorp, Inc. will post 3.17 earnings per share for the current fiscal year.

Capital Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Monday, August 11th will be issued a dividend of $0.12 per share. The ex-dividend date is Monday, August 11th. This represents a $0.48 annualized dividend and a yield of 1.4%. This is a boost from Capital Bancorp’s previous quarterly dividend of $0.10. Capital Bancorp’s dividend payout ratio (DPR) is 17.98%.

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.