Elizabeth Park Capital Advisors Ltd. Cuts Holdings in Capital Bancorp, Inc. $CBNK

Elizabeth Park Capital Advisors Ltd. cut its stake in shares of Capital Bancorp, Inc. (NASDAQ:CBNK) by 17.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,265 shares of the financial services provider’s stock after selling 21,948 shares during the quarter. Capital Bancorp makes up 3.1% of Elizabeth Park Capital Advisors Ltd.’s portfolio, making the stock its 7th largest holding. Elizabeth Park Capital Advisors Ltd. owned about 0.62% of Capital Bancorp worth $3,468,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey boosted its position in Capital Bancorp by 46.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 2,701 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 852 shares during the period. Federated Hermes Inc. lifted its stake in 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 buying an additional 449 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Capital Bancorp during the second quarter valued at $201,000. Allspring Global Investments Holdings LLC bought a new position in shares of Capital Bancorp during the second quarter worth about $209,000. Finally, Simplex Trading LLC acquired a new stake in shares of Capital Bancorp in the 2nd quarter worth about $283,000. 56.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Dominic C. Canuso sold 3,400 shares of Capital Bancorp stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $27.95, for a total transaction of $95,030.00. Following the transaction, the chief financial officer directly owned 1,434 shares of the company’s stock, valued at $40,080.30. The trade was a 70.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 31.59% of the stock is owned by corporate insiders.

Capital Bancorp Trading Up 0.1%

Capital Bancorp stock opened at $28.49 on Friday. The firm has a 50 day simple moving average of $28.69 and a 200-day simple moving average of $31.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.02. The stock has a market capitalization of $470.65 million, a PE ratio of 9.69 and a beta of 0.68. Capital Bancorp, Inc. has a 12-month low of $24.69 and a 12-month high of $36.40.

Capital Bancorp (NASDAQ:CBNK) last announced its earnings results on Tuesday, November 12th. The financial services provider reported $0.70 EPS for the quarter. The firm had revenue of $21.01 million for the quarter. Capital Bancorp had a return on equity of 15.13% and a net margin of 16.41%. As a group, equities research analysts expect that Capital Bancorp, Inc. will post 3.17 EPS for the current fiscal year.

Capital Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 10th were issued a $0.12 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.48 annualized dividend and a dividend yield of 1.7%. Capital Bancorp’s dividend payout ratio is 16.33%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Capital Bancorp from $33.00 to $31.00 and set a “market perform” rating for the company in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Capital Bancorp in a report on Tuesday. Zacks Research downgraded Capital Bancorp from a “hold” rating to a “strong sell” rating in a research report on Friday, October 31st. Hovde Group lowered their target price on Capital Bancorp from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Finally, Stephens cut their target price on Capital Bancorp from $40.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Capital Bancorp presently has a consensus rating of “Hold” and an average price target of $34.33.

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.