Cambridge Bancorp (NASDAQ:CATC) – Piper Sandler lifted their Q3 2020 earnings estimates for Cambridge Bancorp in a report issued on Monday, June 29th. Piper Sandler analyst M. Fitzgibbon now anticipates that the bank will post earnings per share of $1.40 for the quarter, up from their prior forecast of $1.00. Piper Sandler currently has a “Neutral” rating and a $62.00 price target on the stock. Piper Sandler also issued estimates for Cambridge Bancorp’s FY2020 earnings at $4.82 EPS.
Cambridge Bancorp (NASDAQ:CATC) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.09. Cambridge Bancorp had a return on equity of 11.34% and a net margin of 18.70%. The firm had revenue of $31.22 million during the quarter, compared to analysts’ expectations of $30.50 million.
NASDAQ CATC opened at $59.24 on Wednesday. Cambridge Bancorp has a fifty-two week low of $44.20 and a fifty-two week high of $82.80. The stock has a market cap of $319.49 million, a price-to-earnings ratio of 11.35 and a beta of 0.53. The business has a fifty day moving average of $54.97 and a 200-day moving average of $62.68. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.11.
A number of hedge funds have recently bought and sold shares of the business. State Street Corp grew its position in Cambridge Bancorp by 17.6% during the first quarter. State Street Corp now owns 88,796 shares of the bank’s stock valued at $4,617,000 after acquiring an additional 13,294 shares during the period. Royal Bank of Canada boosted its position in shares of Cambridge Bancorp by 10.9% in the first quarter. Royal Bank of Canada now owns 14,180 shares of the bank’s stock worth $737,000 after buying an additional 1,390 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Cambridge Bancorp by 22.6% in the first quarter. The Manufacturers Life Insurance Company now owns 161,006 shares of the bank’s stock worth $8,372,000 after buying an additional 29,640 shares during the period. Schroder Investment Management Group purchased a new stake in shares of Cambridge Bancorp in the first quarter worth about $4,220,000. Finally, Polaris Capital Management LLC boosted its position in shares of Cambridge Bancorp by 0.5% in the first quarter. Polaris Capital Management LLC now owns 172,912 shares of the bank’s stock worth $8,991,000 after buying an additional 800 shares during the period. 47.69% of the stock is owned by hedge funds and other institutional investors.
In other Cambridge Bancorp news, CEO Denis K. Sheahan bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average cost of $50.46 per share, for a total transaction of $50,460.00. Also, Director Leon Aghababai Palandjian bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was acquired at an average price of $52.55 per share, with a total value of $157,650.00. Insiders purchased 7,000 shares of company stock valued at $359,490 over the last quarter. Insiders own 2.58% of the company’s 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 and savings accounts, certificates of deposit, money market accounts, individual retirement accounts, and time and demand deposits.
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