$1.79 Earnings Per Share Expected for Cambridge Bancorp (NASDAQ:CATC) This Quarter

Analysts forecast that Cambridge Bancorp (NASDAQ:CATC) will post earnings per share of $1.79 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Cambridge Bancorp’s earnings, with estimates ranging from $1.77 to $1.81. Cambridge Bancorp reported earnings of $2.06 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 13.1%. The firm is expected to report its next earnings report on Tuesday, October 19th.

According to Zacks, analysts expect that Cambridge Bancorp will report full year earnings of $7.40 per share for the current financial year, with EPS estimates ranging from $7.35 to $7.45. For the next financial year, analysts forecast that the business will post earnings of $7.06 per share, with EPS estimates ranging from $6.65 to $7.47. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Cambridge Bancorp.

Cambridge Bancorp (NASDAQ:CATC) last released its quarterly earnings data on Monday, July 19th. The bank reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.18. The firm had revenue of $43.29 million during the quarter, compared to analyst estimates of $42.13 million. Cambridge Bancorp had a return on equity of 13.84% and a net margin of 29.51%.

A number of analysts have recently weighed in on CATC shares. Zacks Investment Research raised Cambridge Bancorp from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Wednesday, July 21st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $93.50 price target (down previously from $105.00) on shares of Cambridge Bancorp in a research note on Monday, July 19th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $82.88.

Institutional investors and hedge funds have recently bought and sold shares of the business. Boit C F David bought a new position in Cambridge Bancorp in the second quarter worth $27,000. Metropolitan Life Insurance Co NY raised its holdings in Cambridge Bancorp by 94,750.0% in the second quarter. Metropolitan Life Insurance Co NY now owns 1,897 shares of the bank’s stock worth $157,000 after purchasing an additional 1,895 shares in the last quarter. Eaton Vance Management bought a new position in Cambridge Bancorp in the first quarter worth $176,000. BNP Paribas Arbitrage SA increased its holdings in shares of Cambridge Bancorp by 57.1% during the first quarter. BNP Paribas Arbitrage SA now owns 2,375 shares of the bank’s stock valued at $200,000 after acquiring an additional 863 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Cambridge Bancorp during the first quarter valued at $201,000. Institutional investors and hedge funds own 51.62% of the company’s stock.

Shares of NASDAQ:CATC traded up $1.80 during trading on Friday, reaching $83.81. 103,436 shares of the company traded hands, compared to its average volume of 13,748. The firm has a market capitalization of $583.82 million, a price-to-earnings ratio of 10.90 and a beta of 0.53. Cambridge Bancorp has a 52-week low of $47.75 and a 52-week high of $89.50. The business’s fifty day moving average is $84.42 and its 200-day moving average is $84.53.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 19th. Investors of record on Thursday, August 5th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Wednesday, August 4th. Cambridge Bancorp’s payout ratio is 35.36%.

Cambridge Bancorp Company Profile

Cambridge Bancorp is a holding company, which engages in the provision of private banking services. It focuses on the wealth management, commercial banking, residential lending, and personal banking services. The company was founded in 1983 and is headquartered in Cambridge, MA.

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Earnings History and Estimates for Cambridge Bancorp (NASDAQ:CATC)

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