Cambridge Bancorp (NASDAQ:CATC – Get Rating) declared a quarterly dividend on Monday, January 23rd, Zacks reports. Shareholders of record on Thursday, February 9th will be given a dividend of 0.67 per share by the bank on Thursday, February 23rd. This represents a $2.68 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Wednesday, February 8th. This is an increase from Cambridge Bancorp’s previous quarterly dividend of $0.64.
Cambridge Bancorp has increased its dividend by an average of 7.9% annually over the last three years and has increased its dividend every year for the last 24 years. Cambridge Bancorp has a payout ratio of 25.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cambridge Bancorp to earn $9.00 per share next year, which means the company should continue to be able to cover its $2.56 annual dividend with an expected future payout ratio of 28.4%.
Cambridge Bancorp Stock Performance
Cambridge Bancorp stock opened at $77.75 on Wednesday. The firm has a market cap of $606.14 million, a P/E ratio of 10.02 and a beta of 0.50. The business’s fifty day moving average is $85.15 and its two-hundred day moving average is $83.81. Cambridge Bancorp has a 52 week low of $76.50 and a 52 week high of $93.25.
Institutional Investors Weigh In On Cambridge Bancorp
Analyst Upgrades and Downgrades
Separately, Raymond James assumed coverage on Cambridge Bancorp in a research note on Tuesday, December 20th. They issued a “market perform” rating on the stock.
Cambridge Bancorp Company Profile
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, savings, money market, trust, and individual retirement accounts; and time and demand deposits, and certificates of deposit.
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