First Citizens Bank & Trust Co. Takes $1.38 Million Position in Capital Bancorp, Inc. $CBNK

First Citizens Bank & Trust Co. acquired a new stake in shares of Capital Bancorp, Inc. (NASDAQ:CBNK) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 40,990 shares of the financial services provider’s stock, valued at approximately $1,376,000. First Citizens Bank & Trust Co. owned 0.25% of Capital Bancorp at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Federated Hermes Inc. grew its position in shares of Capital Bancorp by 12.7% during the 1st quarter. Federated Hermes Inc. now owns 3,977 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 449 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Capital Bancorp during the 2nd quarter valued at $209,000. AQR Capital Management LLC grew its position in shares of Capital Bancorp by 48.4% during the 1st quarter. AQR Capital Management LLC now owns 13,299 shares of the financial services provider’s stock valued at $377,000 after acquiring an additional 4,336 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Capital Bancorp during the 1st quarter valued at $464,000. Finally, Arcus Capital Partners LLC bought a new stake in shares of Capital Bancorp during the 1st quarter valued at $481,000. Institutional investors own 56.14% of the company’s stock.

Insider Activity at Capital Bancorp

In other Capital Bancorp news, Director Randall James Levitt sold 37,338 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $34.37, for a total transaction of $1,283,307.06. Following the completion of the transaction, the director owned 60,000 shares of the company’s stock, valued at $2,062,200. This represents a 38.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 31.59% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CBNK has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Capital Bancorp in a report on Tuesday, October 14th. Wall Street Zen downgraded shares of Capital Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Hovde Group upped their target price on shares of Capital Bancorp from $35.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Capital Bancorp Trading Up 1.0%

Shares of Capital Bancorp stock opened at $29.73 on Friday. The company has a market capitalization of $492.92 million, a P/E ratio of 11.13 and a beta of 0.69. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.01 and a current ratio of 1.02. The company has a fifty day moving average of $32.01 and a 200 day moving average of $31.95. Capital Bancorp, Inc. has a fifty-two week low of $24.12 and a fifty-two week high of $36.40.

Capital Bancorp (NASDAQ:CBNK) last released its quarterly earnings data on Tuesday, November 12th. The financial services provider reported $0.70 EPS for the quarter. Capital Bancorp had a net margin of 15.14% and a return on equity of 15.54%. The business had revenue of $21.01 million during the quarter. On average, sell-side analysts anticipate that Capital Bancorp, Inc. will post 3.17 earnings per share for the current fiscal year.

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.