Cambridge Bancorp (NASDAQ:CATC) has earned a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.
Brokerages have set a 12-month consensus price objective of $93.00 for the company, according to Zacks. Zacks has also assigned Cambridge Bancorp an industry rank of 143 out of 255 based on the ratings given to related companies.
A number of institutional investors have recently made changes to their positions in CATC. BlackRock Inc. grew its stake in Cambridge Bancorp by 20.6% in the second quarter. BlackRock Inc. now owns 220,781 shares of the bank’s stock valued at $17,994,000 after acquiring an additional 37,751 shares during the period. Cambridge Trust Co. lifted its holdings in shares of Cambridge Bancorp by 12.0% in the second quarter. Cambridge Trust Co. now owns 118,446 shares of the bank’s stock valued at $9,654,000 after purchasing an additional 12,717 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Cambridge Bancorp by 23.1% in the second quarter. Northern Trust Corp now owns 50,150 shares of the bank’s stock valued at $4,087,000 after purchasing an additional 9,419 shares in the last quarter. Putnam FL Investment Management Co. lifted its holdings in shares of Cambridge Bancorp by 24.6% in the third quarter. Putnam FL Investment Management Co. now owns 27,992 shares of the bank’s stock valued at $2,100,000 after purchasing an additional 5,523 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. bought a new position in shares of Cambridge Bancorp in the second quarter valued at approximately $385,000. 35.90% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ CATC traded down $1.14 during midday trading on Wednesday, reaching $76.36. 4,631 shares of the stock were exchanged, compared to its average volume of 4,145. The company has a market capitalization of $377.80 million, a P/E ratio of 13.11 and a beta of 0.12. The stock has a 50 day moving average price of $78.64 and a 200-day moving average price of $78.40. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.15. Cambridge Bancorp has a 52-week low of $71.24 and a 52-week high of $87.48.
Cambridge Bancorp (NASDAQ:CATC) last released its earnings results on Tuesday, October 22nd. The bank reported $1.61 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.02). Cambridge Bancorp had a return on equity of 12.94% and a net margin of 19.09%. The business had revenue of $31.42 million for the quarter.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.51 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $2.04 dividend on an annualized basis and a yield of 2.67%.
About Cambridge Bancorp
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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