Connor Clark & Lunn Investment Management Ltd. Invests $2.26 Million in Capital Bancorp, Inc. $CBNK

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Capital Bancorp, Inc. (NASDAQ:CBNK) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 64,430 shares of the financial services provider’s stock, valued at approximately $2,263,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.40% of Capital Bancorp as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Advisory Services Network LLC acquired a new position in Capital Bancorp during the third quarter valued at $29,000. Aquatic Capital Management LLC acquired a new stake in Capital Bancorp during the 3rd quarter worth about $61,000. Franklin Resources Inc. acquired a new stake in Capital Bancorp during the 2nd quarter worth about $201,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Capital Bancorp by 16.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,410 shares of the financial services provider’s stock valued at $215,000 after buying an additional 884 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Capital Bancorp by 1,198.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,491 shares of the financial services provider’s stock valued at $218,000 after buying an additional 5,991 shares during the last quarter. 56.14% of the stock is owned by institutional investors and hedge funds.

Capital Bancorp Trading Up 0.6%

Shares of Capital Bancorp stock opened at $36.54 on Friday. The firm has a 50-day simple moving average of $36.22 and a two-hundred day simple moving average of $32.85. The company has a market cap of $595.24 million, a P/E ratio of 10.75 and a beta of 0.52. Capital Bancorp, Inc. has a fifty-two week low of $26.40 and a fifty-two week high of $38.83. 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 posted its earnings results on Monday, July 27th. The financial services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. Capital Bancorp had a return on equity of 13.14% and a net margin of 17.47%.The firm had revenue of $65.29 million for the quarter, compared to analysts’ expectations of $66.54 million. As a group, equities analysts predict that Capital Bancorp, Inc. will post 3.43 earnings per share for the current fiscal year.

Capital Bancorp Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods upped their target price on Capital Bancorp from $35.00 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Capital Bancorp in a report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.