Wedge Capital Management L L P NC Boosts Holdings in Capital Bancorp, Inc. (NASDAQ:CBNK)

Wedge Capital Management L L P NC lifted its stake in shares of Capital Bancorp, Inc. (NASDAQ:CBNK) by 35.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,328 shares of the financial services provider’s stock after purchasing an additional 29,147 shares during the period. Wedge Capital Management L L P NC owned about 0.80% of Capital Bancorp worth $2,694,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Ballast Asset Management LP purchased a new stake in Capital Bancorp during the 3rd quarter worth approximately $2,397,000. Hedge funds and other institutional investors own 56.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Hovde Group lowered their price target on Capital Bancorp from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Tuesday. Stephens raised shares of Capital Bancorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $25.00 to $28.00 in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $25.00 target price on shares of Capital Bancorp in a research report on Monday, April 1st.

Capital Bancorp Stock Performance

NASDAQ CBNK opened at $19.50 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s fifty day moving average is $20.30 and its two-hundred day moving average is $21.26. The firm has a market capitalization of $270.86 million, a P/E ratio of 8.33 and a beta of 0.41. Capital Bancorp, Inc. has a fifty-two week low of $15.36 and a fifty-two week high of $25.00.

Capital Bancorp (NASDAQ:CBNK) last announced its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. Capital Bancorp had a net margin of 15.35% and a return on equity of 13.56%. The firm had revenue of $52.91 million for the quarter, compared to analysts’ expectations of $42.48 million. On average, research analysts anticipate that Capital Bancorp, Inc. will post 2.47 earnings per share for the current year.

Capital Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, May 6th will be paid a $0.08 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.32 annualized dividend and a dividend yield of 1.64%. Capital Bancorp’s dividend payout ratio (DPR) is 13.68%.

Capital Bancorp 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.