Cambridge Bancorp (CATC) Set to Announce Quarterly Earnings on Tuesday

Cambridge Bancorp (NASDAQ:CATC) will be issuing its quarterly earnings data before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.88 per share for the quarter.

Cambridge Bancorp (NASDAQ:CATC) last posted its quarterly earnings results on Tuesday, January 30th. The bank reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.19. Cambridge Bancorp had a return on equity of 7.59% and a net margin of 12.25%. The company had revenue of $38.53 million for the quarter, compared to the consensus estimate of $37.70 million.

Cambridge Bancorp Stock Down 0.3 %

NASDAQ:CATC opened at $61.39 on Tuesday. The stock’s fifty day simple moving average is $64.79 and its 200-day simple moving average is $63.78. The firm has a market capitalization of $481.91 million, a P/E ratio of 14.15 and a beta of 0.58. Cambridge Bancorp has a 12-month low of $44.62 and a 12-month high of $73.68.

Cambridge Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $2.68 annualized dividend and a dividend yield of 4.37%. Cambridge Bancorp’s payout ratio is currently 61.75%.

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 stock was sold at an average price of $65.73, for a total transaction of $241,163.37. Following the sale, the director now owns 10,708 shares of the company’s stock, valued at $703,836.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CATC. Bank of New York Mellon Corp grew its holdings in shares of Cambridge Bancorp by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 43,232 shares of the bank’s stock valued at $3,674,000 after acquiring an additional 563 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Cambridge Bancorp by 56.0% during the 1st quarter. MetLife Investment Management LLC now owns 4,132 shares of the bank’s stock worth $351,000 after purchasing an additional 1,484 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Cambridge Bancorp by 2.2% during the 1st quarter. Panagora Asset Management Inc. now owns 12,490 shares of the bank’s stock worth $1,062,000 after acquiring an additional 273 shares during the period. Dimensional Fund Advisors LP raised its stake in Cambridge Bancorp by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 82,302 shares of the bank’s stock valued at $6,995,000 after purchasing an additional 7,074 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Cambridge Bancorp by 9.8% in the 1st quarter. First Trust Advisors LP now owns 3,548 shares of the bank’s stock valued at $302,000 after buying an additional 316 shares in the last quarter. 55.53% of the stock is owned by institutional investors and hedge funds.

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.