Cambridge Bancorp (NASDAQ:CATC) Director Robert Gregg Stone III Buys 1,000 Shares

Cambridge Bancorp (NASDAQ:CATC) Director Robert Gregg Stone III bought 1,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was bought at an average price of $75.01 per share, with a total value of $75,010.00.

CATC stock traded up $0.51 during mid-day trading on Wednesday, reaching $75.01. 40,700 shares of the stock traded hands, compared to its average volume of 6,933. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.89 and a current ratio of 0.89. Cambridge Bancorp has a one year low of $71.24 and a one year high of $86.20. The stock has a market capitalization of $361.81 million, a PE ratio of 12.50 and a beta of 0.12. The business has a 50-day moving average price of $78.55 and a two-hundred day moving average price of $78.04.

Cambridge Bancorp (NASDAQ:CATC) last announced its earnings results on Tuesday, October 22nd. The bank reported $1.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.63 by ($0.02). The firm had revenue of $31.42 million during the quarter. Cambridge Bancorp had a net margin of 19.09% and a return on equity of 12.94%.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $2.04 annualized dividend and a yield of 2.72%.

A number of large investors have recently modified their holdings of CATC. Metropolitan Life Insurance Co NY raised its position in Cambridge Bancorp by 53.8% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 1,521 shares of the bank’s stock worth $114,000 after purchasing an additional 532 shares during the period. State Street Corp grew its stake in shares of Cambridge Bancorp by 4.0% during the third quarter. State Street Corp now owns 70,652 shares of the bank’s stock valued at $5,300,000 after buying an additional 2,706 shares during the last quarter. Putnam FL Investment Management Co. grew its stake in shares of Cambridge Bancorp by 24.6% during the third quarter. Putnam FL Investment Management Co. now owns 27,992 shares of the bank’s stock valued at $2,100,000 after buying an additional 5,523 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Cambridge Bancorp by 50.2% during the third quarter. First Trust Advisors LP now owns 10,014 shares of the bank’s stock valued at $751,000 after buying an additional 3,345 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Cambridge Bancorp in the third quarter worth approximately $90,000. Institutional investors own 35.89% of the company’s stock.

Separately, Keefe, Bruyette & Woods upgraded Cambridge Bancorp from a “market perform” rating to an “outperform” rating and increased their price target for the company from $85.00 to $87.00 in a report on Tuesday.

About Cambridge Bancorp

Cambridge Bancorp operates as the bank holding company for Cambridge Trust Company that provides commercial and consumer banking, and investment management and trust services. The company accepts various deposits, such as checking and savings accounts, certificates of deposit, money market accounts, individual retirement accounts, and time and demand deposits.

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