CenterBook Partners LP Acquires Shares of 37,038 Capital Bancorp, Inc. $CBNK

CenterBook Partners LP bought a new position in Capital Bancorp, Inc. (NASDAQ:CBNK) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 37,038 shares of the financial services provider’s stock, valued at approximately $1,182,000. CenterBook Partners LP owned 0.22% of Capital Bancorp at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CBNK. AQR Capital Management LLC lifted its position in Capital Bancorp by 48.4% during the 1st quarter. AQR Capital Management LLC now owns 13,299 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 4,336 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Capital Bancorp during the second quarter worth $209,000. First Citizens Bank & Trust Co. purchased a new position in shares of Capital Bancorp in the second quarter valued at $1,376,000. Simplex Trading LLC acquired a new stake in Capital Bancorp during the 2nd quarter valued at $283,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Capital Bancorp by 107.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 45,043 shares of the financial services provider’s stock worth $1,513,000 after buying an additional 23,379 shares during the period. Institutional investors and hedge funds own 56.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CBNK. Weiss Ratings reissued a “hold (c+)” rating on shares of Capital Bancorp in a research report on Monday, December 29th. Stephens reduced their price target on Capital Bancorp from $40.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Hovde Group dropped their price objective on Capital Bancorp from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Zacks Research raised Capital Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods increased their target price on Capital Bancorp from $31.00 to $32.00 and gave the company a “market perform” rating in a research note on Monday, February 2nd. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Capital Bancorp has a consensus rating of “Hold” and a consensus price target of $34.67.

Capital Bancorp Stock Up 0.4%

Shares of Capital Bancorp stock opened at $31.15 on Friday. The business has a 50-day moving average price of $30.00 and a 200 day moving average price of $30.35. Capital Bancorp, Inc. has a fifty-two week low of $24.69 and a fifty-two week high of $36.40. The firm has a market cap of $514.60 million, a P/E ratio of 9.16 and a beta of 0.66. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.09.

Capital Bancorp (NASDAQ:CBNK) last announced its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.08. The firm had revenue of $62.74 million for the quarter, compared to analysts’ expectations of $60.62 million. Capital Bancorp had a return on equity of 14.76% and a net margin of 18.44%. On average, sell-side analysts forecast that Capital Bancorp, Inc. will post 3.17 earnings per share for the current fiscal year.

Capital Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Monday, February 9th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, February 9th. This represents a $0.48 annualized dividend and a yield of 1.5%. Capital Bancorp’s dividend payout ratio (DPR) is presently 14.12%.

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. The company offers a range of deposit products, including checking and savings, time, interest bearing and noninterest-bearing demand, and money market accounts, as well as certificates of deposit; and credit cards.