JPMorgan Chase & Co. Purchases 23,033 Shares of Capital Bancorp, Inc. (NASDAQ:CBNK)

JPMorgan Chase & Co. raised its stake in Capital Bancorp, Inc. (NASDAQ:CBNK - Free Report) by 118.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,491 shares of the financial services provider's stock after acquiring an additional 23,033 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.26% of Capital Bancorp worth $1,211,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Capital Bancorp by 14.4% during the 4th quarter. Vanguard Group Inc. now owns 558,300 shares of the financial services provider's stock worth $15,912,000 after acquiring an additional 70,420 shares during the period. American Century Companies Inc. boosted its position in Capital Bancorp by 79.1% during the fourth quarter. American Century Companies Inc. now owns 85,449 shares of the financial services provider's stock worth $2,435,000 after purchasing an additional 37,746 shares during the period. Wedge Capital Management L L P NC boosted its position 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 purchasing an additional 22,381 shares during the period. Salzhauer Michael purchased a new position in shares of Capital Bancorp in the fourth quarter worth about $490,000. Finally, Belvedere Trading LLC bought a new stake in shares of Capital Bancorp in the fourth quarter valued at approximately $399,000. 56.14% of the stock is owned by institutional investors.

Capital Bancorp Price Performance

Shares of CBNK stock traded up $1.99 during trading hours on Tuesday, reaching $30.27. The stock had a trading volume of 30,824 shares, compared to its average volume of 38,591. The stock's fifty day simple moving average is $28.33 and its 200 day simple moving average is $28.53. The firm has a market capitalization of $504.21 million, a PE ratio of 14.21 and a beta of 0.52. Capital Bancorp, Inc. has a 12 month low of $19.26 and a 12 month high of $32.88. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23.

Capital Bancorp (NASDAQ:CBNK - Get Free Report) last posted its earnings results on Monday, April 28th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.21. The business had revenue of $58.60 million for the quarter, compared to analysts' expectations of $57.54 million. Capital Bancorp had a net margin of 12.66% and a return on equity of 14.89%. On average, equities research analysts predict that Capital Bancorp, Inc. will post 3.17 EPS for the current year.

Capital Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 12th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Monday, May 12th. Capital Bancorp's payout ratio is 18.78%.

Insiders Place Their Bets

In other news, Director Randall James Levitt sold 14,500 shares of Capital Bancorp stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $32.30, for a total transaction of $468,350.00. Following the completion of the sale, the director now owns 100,000 shares in the company, valued at approximately $3,230,000. This trade represents a 12.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 32.50% of the company's stock.

Wall Street Analyst Weigh In

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

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.