Geode Capital Management LLC Buys 424 Shares of Capital Bancorp, Inc. (NASDAQ:CBNK)

Geode Capital Management LLC raised its stake in shares of Capital Bancorp, Inc. (NASDAQ:CBNK) by 0.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 207,884 shares of the financial services provider’s stock after purchasing an additional 424 shares during the quarter. Geode Capital Management LLC’s holdings in Capital Bancorp were worth $5,345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BNP Paribas Financial Markets increased its position in shares of Capital Bancorp by 317.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,809 shares of the financial services provider’s stock valued at $201,000 after buying an additional 5,937 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Capital Bancorp during the 2nd quarter valued at about $256,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Capital Bancorp in the 3rd quarter valued at approximately $276,000. Squarepoint Ops LLC acquired a new position in shares of Capital Bancorp in the 2nd quarter valued at approximately $304,000. Finally, Barclays PLC increased its stake in Capital Bancorp by 297.3% during the 3rd quarter. Barclays PLC now owns 11,918 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 8,918 shares in the last quarter. 56.14% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Steven M. Poynot bought 2,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $25.36 per share, with a total value of $50,720.00. Following the acquisition, the chief operating officer now directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dominic C. Canuso acquired 1,000 shares of the stock in a transaction on Monday, November 4th. The shares were purchased at an average price of $25.52 per share, with a total value of $25,520.00. Following the completion of the transaction, the chief financial officer now owns 2,000 shares of the company’s stock, valued at approximately $51,040. This represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.50% of the stock is owned by company insiders.

Capital Bancorp Price Performance

NASDAQ:CBNK opened at $28.03 on Friday. Capital Bancorp, Inc. has a 12-month low of $19.02 and a 12-month high of $31.22. The firm has a market capitalization of $464.12 million, a price-to-earnings ratio of 12.03 and a beta of 0.51. The stock’s 50 day moving average price is $28.44 and its two-hundred day moving average price is $25.46. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.23.

Capital Bancorp (NASDAQ:CBNK) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.66 EPS 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. On average, analysts anticipate that Capital Bancorp, Inc. will post 2.37 earnings per share for the current year.

Capital Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, November 4th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.43%. Capital Bancorp’s dividend payout ratio is presently 17.17%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised their price objective on shares of Capital Bancorp from $28.00 to $32.00 and gave the stock a “market perform” rating in a report 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.