Ballast Asset Management LP Reduces Holdings in Capital Bancorp, Inc. (NASDAQ:CBNK)

Ballast Asset Management LP cut its position in Capital Bancorp, Inc. (NASDAQ:CBNK) by 3.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 190,345 shares of the financial services provider’s stock after selling 6,948 shares during the period. Capital Bancorp accounts for approximately 2.8% of Ballast Asset Management LP’s investment portfolio, making the stock its 9th biggest holding. Ballast Asset Management LP’s holdings in Capital Bancorp were worth $5,425,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Capital Bancorp during the 3rd quarter valued at $276,000. BNP Paribas Financial Markets increased its position in Capital Bancorp by 317.1% during 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. Martingale Asset Management L P raised its stake in Capital Bancorp by 10.1% in the third quarter. Martingale Asset Management L P now owns 27,369 shares of the financial services provider’s stock valued at $704,000 after buying an additional 2,511 shares during the last quarter. State Street Corp boosted its holdings in Capital Bancorp by 0.9% in the third quarter. State Street Corp now owns 175,639 shares of the financial services provider’s stock worth $4,516,000 after acquiring an additional 1,526 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Capital Bancorp by 297.3% during the third quarter. Barclays PLC now owns 11,918 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 8,918 shares during the last quarter. 56.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Capital Bancorp

In other Capital Bancorp news, Director Randall James Levitt sold 14,500 shares of Capital Bancorp stock in a transaction on Friday, February 7th. The stock was sold at an average price of $32.30, for a total value of $468,350.00. Following the sale, the director now owns 100,000 shares in the company, valued at $3,230,000. The trade was a 12.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 32.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Hovde Group decreased their price target 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 raised their target price on Capital Bancorp from $32.00 to $35.00 and gave the stock a “market perform” rating in a research note on Friday, February 7th.

Capital Bancorp Trading Up 0.9 %

Shares of NASDAQ:CBNK opened at $28.33 on Tuesday. The business’s 50 day moving average price is $30.02 and its 200-day moving average price is $28.21. Capital Bancorp, Inc. has a 1 year low of $19.02 and a 1 year high of $32.88. The firm has a market capitalization of $471.81 million, a price-to-earnings ratio of 13.30 and a beta of 0.54. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 1.02.

Capital Bancorp (NASDAQ:CBNK) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.65 earnings per share. On average, equities research analysts forecast that Capital Bancorp, Inc. will post 3.17 earnings per share for the current fiscal year.

Capital Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Monday, February 10th. Capital Bancorp’s dividend payout ratio (DPR) is currently 18.78%.

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.