Wedge Capital Management L L P NC Has $2.68 Million Stock 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 - Free Report) by 31.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,993 shares of the financial services provider's stock after purchasing an additional 22,381 shares during the quarter. Wedge Capital Management L L P NC owned about 0.57% of Capital Bancorp worth $2,679,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in shares of Capital Bancorp by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 227,234 shares of the financial services provider's stock valued at $4,658,000 after purchasing an additional 9,461 shares during the period. Renaissance Technologies LLC bought a new position in Capital Bancorp during the second quarter valued at about $256,000. Squarepoint Ops LLC acquired a new position in Capital Bancorp during the second quarter worth about $304,000. Pacific Ridge Capital Partners LLC raised its position in Capital Bancorp by 14.3% in the second quarter. Pacific Ridge Capital Partners LLC now owns 208,364 shares of the financial services provider's stock worth $4,271,000 after acquiring an additional 26,091 shares in the last quarter. Finally, Empowered Funds LLC raised its position in Capital Bancorp by 5.2% in the third quarter. Empowered Funds LLC now owns 89,110 shares of the financial services provider's stock worth $2,291,000 after acquiring an additional 4,422 shares in the last quarter. Institutional investors and hedge funds own 56.14% of the company's stock.

Insider Buying and Selling

In related news, CFO Dominic C. Canuso bought 1,000 shares of the business's stock in a transaction on Monday, November 4th. The stock was bought at an average price of $25.52 per share, for a total transaction of $25,520.00. Following the transaction, the chief financial officer now directly owns 2,000 shares in the company, valued at $51,040. This represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Steven M. Poynot purchased 2,000 shares of the stock in a transaction dated Friday, November 1st. The shares were bought at an average price of $25.36 per share, for a total transaction of $50,720.00. Following the completion of the acquisition, the chief operating officer now owns 4,503 shares in the company, valued at $114,196.08. This represents a 79.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 32.50% of the company's stock.

Capital Bancorp Price Performance

Shares of CBNK traded up $0.64 during trading hours on Monday, hitting $29.07. 51,865 shares of the company were exchanged, compared to its average volume of 52,441. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 1.02. The company has a market capitalization of $481.40 million, a PE ratio of 12.48 and a beta of 0.51. The firm has a fifty day simple moving average of $28.71 and a 200-day simple moving average of $26.10. Capital Bancorp, Inc. has a one year low of $19.02 and a one year high of $31.22.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.68 by ($0.02). Capital Bancorp had a net margin of 14.49% and a return on equity of 12.66%. The company had revenue of $59.25 million during the quarter. As a group, sell-side analysts predict that Capital Bancorp, Inc. will post 2.37 earnings per share for the current year.

Capital Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, November 4th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Monday, November 4th. Capital Bancorp's payout ratio is 17.17%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their price objective on shares of Capital Bancorp from $28.00 to $32.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th.

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.