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

Cambridge Bancorp (NASDAQ:CATC) shares 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 trading hands.

Cambridge Bancorp Stock Performance

The business has a 50-day simple moving average of $64.24 and a two-hundred day simple moving average of $63.86. The stock 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 announced 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 company had revenue of $38.53 million for the quarter, compared to analysts’ expectations of $37.70 million. On average, analysts expect that Cambridge Bancorp will post 4.33 earnings per share for the current fiscal year.

Cambridge Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 4.23%. The ex-dividend date is Wednesday, May 8th. Cambridge Bancorp’s dividend payout ratio is 73.83%.

Insider Buying and Selling at Cambridge Bancorp

In other news, Director Robert Gregg Stone III sold 3,669 shares of the firm’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 owns 10,708 shares in the company, valued at approximately $703,836.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Cambridge Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Longfellow Investment Management Co. LLC acquired a new stake in Cambridge Bancorp in the 4th quarter worth about $66,000. Quest Partners LLC acquired a new stake in Cambridge Bancorp in the 4th quarter worth about $104,000. Quadrant Capital Group LLC raised its stake in Cambridge Bancorp by 30.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,691 shares of the bank’s stock worth $117,000 after purchasing an additional 397 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Cambridge Bancorp by 36.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,405 shares of the bank’s stock worth $150,000 after purchasing an additional 645 shares in the last quarter. Finally, Kingsview Wealth Management LLC acquired a new stake in Cambridge Bancorp in the 4th quarter worth about $205,000. Institutional investors and hedge funds own 55.53% of the company’s stock.

Cambridge Bancorp Company Profile

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.