California State Teachers Retirement System Has $609,000 Stake in Cambridge Bancorp (NASDAQ:CATC)

California State Teachers Retirement System lifted its position in shares of Cambridge Bancorp (NASDAQ:CATC) by 6.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,389 shares of the bank’s stock after buying an additional 569 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Cambridge Bancorp worth $609,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Cambridge Bancorp by 83.3% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 880 shares of the bank’s stock worth $57,000 after acquiring an additional 400 shares during the period. BNP Paribas Arbitrage SA grew its stake in Cambridge Bancorp by 86.6% during the second quarter. BNP Paribas Arbitrage SA now owns 2,161 shares of the bank’s stock worth $179,000 after purchasing an additional 1,003 shares during the period. Legal & General Group Plc increased its holdings in Cambridge Bancorp by 280.6% in the fourth quarter. Legal & General Group Plc now owns 2,489 shares of the bank’s stock worth $207,000 after purchasing an additional 1,835 shares in the last quarter. SG Americas Securities LLC increased its holdings in Cambridge Bancorp by 28.5% in the fourth quarter. SG Americas Securities LLC now owns 2,738 shares of the bank’s stock worth $227,000 after purchasing an additional 607 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in Cambridge Bancorp in the first quarter valued at approximately $227,000. Institutional investors own 56.69% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lowered shares of Cambridge Bancorp from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 18th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $78.67.

Cambridge Bancorp Stock Performance

Shares of NASDAQ:CATC opened at $54.47 on Tuesday. Cambridge Bancorp has a 52-week low of $44.62 and a 52-week high of $93.00. The business’s 50 day simple moving average is $56.88 and its two-hundred day simple moving average is $59.99. The firm has a market cap of $427.59 million, a P/E ratio of 9.08 and a beta of 0.54.

Cambridge Bancorp (NASDAQ:CATC) last issued its earnings results on Tuesday, July 18th. The bank reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.05. The company had revenue of $64.17 million for the quarter, compared to analysts’ expectations of $39.98 million. Cambridge Bancorp had a return on equity of 10.34% and a net margin of 19.19%. During the same period last year, the business earned $1.90 EPS. On average, equities analysts forecast that Cambridge Bancorp will post 4.92 earnings per share for the current fiscal year.

Cambridge Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Thursday, August 3rd were issued a $0.67 dividend. The ex-dividend date was Wednesday, August 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.92%. Cambridge Bancorp’s dividend payout ratio is presently 44.67%.

Cambridge Bancorp 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.