Connor Clark & Lunn Investment Management Ltd. Grows Stake in Capital Bancorp, Inc. (NASDAQ:CBNK)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) by 91.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,537 shares of the financial services provider's stock after acquiring an additional 9,798 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of Capital Bancorp worth $585,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Fourthstone LLC increased its holdings in shares of Capital Bancorp by 104.6% in the third quarter. Fourthstone LLC now owns 51,551 shares of the financial services provider's stock worth $1,325,000 after purchasing an additional 26,358 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in Capital Bancorp by 31.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 93,993 shares of the financial services provider's stock worth $2,679,000 after acquiring an additional 22,381 shares during the last quarter. Salzhauer Michael purchased a new stake in Capital Bancorp during the fourth quarter valued at approximately $490,000. Belvedere Trading LLC bought a new stake in shares of Capital Bancorp in the 4th quarter valued at approximately $399,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Capital Bancorp by 17.5% in the 4th quarter. Bank of New York Mellon Corp now owns 61,699 shares of the financial services provider's stock worth $1,758,000 after purchasing an additional 9,173 shares during the period. Hedge funds and other institutional investors own 56.14% of the company's stock.

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Capital Bancorp Trading Down 1.2 %

NASDAQ CBNK traded down $0.35 during trading on Wednesday, hitting $28.82. The stock had a trading volume of 49,234 shares, compared to its average volume of 35,586. Capital Bancorp, Inc. has a one year low of $19.02 and a one year high of $32.88. The stock has a 50 day simple moving average of $30.04 and a 200 day simple moving average of $28.10. The stock has a market capitalization of $479.97 million, a price-to-earnings ratio of 13.53 and a beta of 0.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.02 and a current ratio of 1.03.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.26. Capital Bancorp had a return on equity of 14.89% and a net margin of 12.66%. During the same period in the prior year, the business earned $0.65 EPS. Sell-side analysts predict that Capital Bancorp, Inc. will post 3.17 earnings per share for the current year.

Capital Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.40 annualized dividend and a dividend yield of 1.39%. Capital Bancorp's dividend payout ratio (DPR) is 18.78%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CBNK shares. Hovde Group cut their target price on Capital Bancorp from $36.00 to $34.00 and set an "outperform" rating on the stock in a research report on Monday, March 17th. Keefe, Bruyette & Woods boosted their price objective on shares of Capital Bancorp from $32.00 to $35.00 and gave the company a "market perform" rating in a research report on Friday, February 7th.

Insider Activity

In related news, Director Randall James Levitt sold 14,500 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.30, for a total value of $468,350.00. Following the transaction, the director now owns 100,000 shares of the company's stock, valued at $3,230,000. This trade represents a 12.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 32.50% of the company's stock.

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.