Empowered Funds LLC Makes New $3.66 Million Investment in Capital Bancorp, Inc. $CBNK

Empowered Funds LLC purchased a new stake in shares of Capital Bancorp, Inc. (NASDAQ:CBNK) in the second quarter, HoldingsChannel reports. The institutional investor purchased 104,336 shares of the financial services provider’s stock, valued at approximately $3,664,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new position in shares of Capital Bancorp during the 3rd quarter valued at $29,000. Legal & General Group Plc acquired a new stake in shares of Capital Bancorp in the second quarter valued at $37,000. Aquatic Capital Management LLC acquired a new stake in shares of Capital Bancorp in the third quarter valued at $61,000. Franklin Resources Inc. bought a new position in Capital Bancorp during the second quarter valued at about $201,000. Finally, HRT Financial LP bought a new position in Capital Bancorp during the fourth quarter valued at about $205,000. 56.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CBNK has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Capital Bancorp in a report on Tuesday, June 30th. Keefe, Bruyette & Woods upped their price target on shares of Capital Bancorp from $35.00 to $40.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.33.

Capital Bancorp Price Performance

NASDAQ CBNK opened at $35.95 on Wednesday. Capital Bancorp, Inc. has a 1 year low of $26.40 and a 1 year high of $38.83. The business’s fifty day moving average is $36.31 and its two-hundred day moving average is $32.91. The stock has a market capitalization of $585.63 million, a P/E ratio of 10.57 and a beta of 0.51. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.03 and a current ratio of 1.03.

Capital Bancorp (NASDAQ:CBNK) last released its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.05. The business had revenue of $65.29 million during the quarter, compared to analyst estimates of $66.54 million. Capital Bancorp had a return on equity of 13.14% and a net margin of 17.47%. On average, research analysts forecast that Capital Bancorp, Inc. will post 3.43 earnings per share for the current fiscal year.

Capital Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th were issued a dividend of $0.14 per share. This is a positive change from Capital Bancorp’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, August 10th. Capital Bancorp’s dividend payout ratio (DPR) is currently 16.47%.

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. The company offers a range of deposit products, including checking and savings, time, interest bearing and noninterest-bearing demand, and money market accounts, as well as certificates of deposit; and credit cards.