Cambridge Bancorp (NASDAQ:CATC) Shares Gap Down to $63.71

Cambridge Bancorp (NASDAQ:CATC)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $63.71, but opened at $62.07. Cambridge Bancorp shares last traded at $63.81, with a volume of 1,935 shares traded.

Cambridge Bancorp Stock Down 2.0 %

The company has a 50 day moving average of $64.24 and a 200 day moving average of $63.86. The firm has a market cap of $497.77 million, a price-to-earnings ratio of 17.47 and a beta of 0.58.

Cambridge Bancorp (NASDAQ:CATC) last issued its quarterly earnings data on Tuesday, January 30th. The bank reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.19. Cambridge Bancorp had a return on equity of 6.69% and a net margin of 10.11%. The business had revenue of $38.53 million during the quarter, compared to analyst estimates of $37.70 million. As a group, equities research analysts expect that Cambridge Bancorp will post 4.33 earnings per share for the current fiscal year.

Cambridge Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Wednesday, May 8th. Cambridge Bancorp’s dividend payout ratio (DPR) is presently 73.83%.

Insider Transactions at Cambridge Bancorp

In other Cambridge Bancorp news, Director Robert Gregg Stone III sold 3,669 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $65.73, for a total transaction of $241,163.37. Following the completion of the sale, the director now directly owns 10,708 shares in the company, valued at $703,836.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cambridge Bancorp

A number of hedge funds have recently bought and sold shares of CATC. Gardner Lewis Asset Management L P bought a new stake in shares of Cambridge Bancorp in the fourth quarter valued at about $5,856,000. Versor Investments LP bought a new stake in shares of Cambridge Bancorp in the third quarter valued at about $4,178,000. Cambridge Trust Co. lifted its stake in shares of Cambridge Bancorp by 25.1% in the third quarter. Cambridge Trust Co. now owns 272,837 shares of the bank’s stock valued at $16,995,000 after buying an additional 54,689 shares during the period. Endeavour Capital Advisors Inc. lifted its stake in shares of Cambridge Bancorp by 22.5% in the third quarter. Endeavour Capital Advisors Inc. now owns 208,503 shares of the bank’s stock valued at $12,988,000 after buying an additional 38,365 shares during the period. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Cambridge Bancorp in the third quarter valued at about $2,004,000. 55.53% of the stock is currently owned by institutional investors.

About Cambridge Bancorp

Cambridge Bancorp operates as the bank holding company for Cambridge Trust Company that engages in the provision of 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, as well as time and demand deposits, and certificates of deposit.