Comerica Bank Reduces Position in Capital Bancorp, Inc. $CBNK

Comerica Bank lessened its holdings in shares of Capital Bancorp, Inc. (NASDAQ:CBNK) by 62.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,470 shares of the financial services provider’s stock after selling 20,928 shares during the period. Comerica Bank owned about 0.07% of Capital Bancorp worth $353,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CBNK. Federated Hermes Inc. boosted its holdings in shares of Capital Bancorp by 12.7% in the first 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 during the period. Janus Henderson Group PLC purchased a new stake in shares of Capital Bancorp in the fourth quarter valued at approximately $219,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Capital Bancorp by 19.5% in the fourth 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 boosted its holdings in shares of 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 purchasing an additional 2,873 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Capital Bancorp in the first quarter valued at approximately $464,000. Hedge funds and other institutional investors own 56.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CBNK shares. Wall Street Zen lowered Capital Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Hovde Group boosted their price target on Capital Bancorp from $35.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods boosted their price target on Capital Bancorp from $33.00 to $35.00 and gave the company a “market perform” rating in a report on Monday, May 12th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Capital Bancorp presently has an average rating of “Moderate Buy” and an average target price of $37.00.

Capital Bancorp Stock Performance

Shares of CBNK stock opened at $34.17 on Tuesday. The business’s fifty day simple moving average is $33.75 and its 200-day simple moving average is $31.38. The company has a market cap of $566.68 million, a PE ratio of 12.80 and a beta of 0.74. 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 12-month low of $24.10 and a 12-month high of $36.40.

Capital Bancorp (NASDAQ:CBNK) last issued its quarterly 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). The business had revenue of $60.75 million for the quarter, compared to analyst estimates of $61.29 million. Capital Bancorp had a return on equity of 15.54% and a net margin of 15.14%. Analysts expect that Capital Bancorp, Inc. will post 3.17 earnings per share for the current fiscal year.

Capital Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Monday, August 11th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, August 11th. This is a boost from Capital Bancorp’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.4%. Capital Bancorp’s payout ratio is currently 17.98%.

Insider Activity

In other news, Director Randall James Levitt sold 37,338 shares of the company’s stock in a transaction on 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 directly owned 60,000 shares of the company’s stock, valued at approximately $2,062,200. This represents a 38.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 31.59% of the company’s stock.

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.