Squarepoint Ops LLC Boosts Stock Position in Capital Bancorp, Inc. $CBNK

Squarepoint Ops LLC increased its holdings in Capital Bancorp, Inc. (NASDAQ:CBNK) by 31.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 137,954 shares of the financial services provider’s stock after buying an additional 33,402 shares during the period. Squarepoint Ops LLC’s holdings in Capital Bancorp were worth $4,845,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Advisory Services Network LLC bought a new position in Capital Bancorp during the third quarter valued at $29,000. Legal & General Group Plc bought a new stake in shares of Capital Bancorp in the 2nd quarter worth about $37,000. Aquatic Capital Management LLC bought a new stake in shares of Capital Bancorp in the 3rd quarter worth about $61,000. California State Teachers Retirement System raised its position in shares of Capital Bancorp by 754.3% during the 2nd quarter. California State Teachers Retirement System now owns 5,408 shares of the financial services provider’s stock valued at $190,000 after buying an additional 4,775 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new stake in shares of Capital Bancorp during the 2nd quarter valued at about $201,000. Hedge funds and other institutional investors own 56.14% of the company’s stock.

Capital Bancorp Price Performance

Shares of CBNK stock opened at $36.25 on Friday. The company has a market capitalization of $590.51 million, a P/E ratio of 10.66 and a beta of 0.51. The company’s 50-day simple moving average is $36.52 and its two-hundred day simple moving average is $33.18. Capital Bancorp, Inc. has a one year low of $26.40 and a one year high of $38.83. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.03 and a quick ratio of 1.03.

Capital Bancorp (NASDAQ:CBNK) last posted its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.05. The firm had revenue of $65.29 million during the quarter, compared to the consensus estimate of $66.54 million. Capital Bancorp had a net margin of 17.47% and a return on equity of 13.14%. As a group, equities analysts anticipate that Capital Bancorp, Inc. will post 3.46 EPS for the current year.

Capital Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th were given a dividend of $0.14 per share. This is a boost from Capital Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.56 dividend on an annualized basis and a yield of 1.5%. Capital Bancorp’s dividend payout ratio is presently 16.47%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Raymond James Financial started coverage on shares of Capital Bancorp in a report on Thursday, September 3rd. They issued a “market perform” rating for the company. Weiss Ratings restated a “buy (b)” rating on shares of Capital Bancorp in a research report on Tuesday, June 30th. Finally, Keefe, Bruyette & Woods raised their price objective on Capital Bancorp from $35.00 to $40.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.33.

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. 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.