Pacific Ridge Capital Partners LLC Sells 2,521 Shares of Capital Bancorp, Inc. (NASDAQ:CBNK)

Pacific Ridge Capital Partners LLC reduced its holdings in Capital Bancorp, Inc. (NASDAQ:CBNK) by 1.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 237,247 shares of the financial services provider’s stock after selling 2,521 shares during the quarter. Capital Bancorp accounts for about 1.6% of Pacific Ridge Capital Partners LLC’s investment portfolio, making the stock its 20th largest holding. Pacific Ridge Capital Partners LLC’s holdings in Capital Bancorp were worth $6,762,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the business. Picton Mahoney Asset Management boosted its holdings in Capital Bancorp by 123.0% in the fourth quarter. Picton Mahoney Asset Management now owns 1,135 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 626 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Capital Bancorp in the 4th quarter worth about $109,000. BNP Paribas Financial Markets boosted its stake in shares of 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 purchasing an additional 5,937 shares in the last quarter. Praetorian Wealth Management Inc. purchased a new position in shares of Capital Bancorp during the fourth quarter valued at about $205,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Capital Bancorp in the third quarter worth about $276,000. 56.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Capital Bancorp from $32.00 to $35.00 and gave the company a “market perform” rating in a research report on Friday, February 7th. Hovde Group reduced their price target on Capital Bancorp from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Monday, March 17th.

Insider Buying and Selling

In related news, Director Randall James Levitt sold 14,500 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $32.30, for a total value of $468,350.00. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at $3,230,000. The trade was a 12.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 32.50% of the stock is currently owned by company insiders.

Capital Bancorp Price Performance

Shares of CBNK opened at $28.82 on Thursday. The firm’s 50-day simple moving average is $30.05 and its two-hundred day simple moving average is $28.11. Capital Bancorp, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $32.88. The stock has a market cap of $479.97 million, a PE ratio of 13.53 and a beta of 0.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.02 and a current ratio of 1.03.

Capital Bancorp (NASDAQ:CBNK) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.92 earnings per share 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 last year, the firm posted $0.65 earnings per share. Analysts anticipate that Capital Bancorp, Inc. will post 3.17 earnings per share for the current fiscal year.

Capital Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Monday, February 10th. Capital Bancorp’s dividend payout ratio is presently 18.78%.

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.