Los Angeles Capital Management LLC Lowers Stake in Capital Bancorp, Inc. (NASDAQ:CBNK)

Los Angeles Capital Management LLC lessened its holdings in shares of Capital Bancorp, Inc. (NASDAQ:CBNK) by 11.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,425 shares of the financial services provider’s stock after selling 2,100 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Capital Bancorp were worth $422,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pacific Ridge Capital Partners LLC boosted its stake in shares of 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 buying an additional 26,091 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Capital Bancorp during the 2nd quarter valued at approximately $304,000. Kendall Capital Management purchased a new stake in shares of Capital Bancorp during the 2nd quarter valued at approximately $1,664,000. Renaissance Technologies LLC purchased a new stake in shares of Capital Bancorp during the 2nd quarter valued at approximately $256,000. Finally, Dimensional Fund Advisors LP raised 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 buying an additional 9,461 shares during the period. Hedge funds and other institutional investors own 56.14% of the company’s stock.

Insider Activity

In other news, COO Steven M. Poynot bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $25.36 per share, for a total transaction of $50,720.00. Following the completion of the transaction, the chief operating officer now owns 4,503 shares in the company, valued at $114,196.08. The trade was a 79.90 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Dominic C. Canuso bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased 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 owns 2,000 shares of the company’s stock, valued at $51,040. The trade was a 100.00 % increase in their position. 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 NASDAQ:CBNK opened at $27.85 on Monday. The company has a 50-day simple moving average of $25.62 and a 200-day simple moving average of $23.31. Capital Bancorp, Inc. has a one year low of $19.02 and a one year high of $29.59. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.00 and a current ratio of 1.03. The stock has a market capitalization of $461.20 million, a price-to-earnings ratio of 11.95 and a beta of 0.47.

Capital Bancorp (NASDAQ:CBNK) last posted its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.02). Capital Bancorp had a return on equity of 12.66% and a net margin of 14.49%. The firm had revenue of $59.25 million for the quarter. On average, analysts predict that Capital Bancorp, Inc. will post 2.37 EPS for the current year.

Capital Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, November 4th will be issued a $0.10 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.44%. Capital Bancorp’s dividend payout ratio (DPR) is presently 17.17%.

Analysts Set New Price Targets

CBNK has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on Capital Bancorp from $25.00 to $27.00 and gave the company a “market perform” rating in a research report on Tuesday, July 23rd. Hovde Group boosted their price target on shares of Capital Bancorp from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th.

About Capital Bancorp

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.