Cambridge Bancorp (NASDAQ:CATC) Shares Gap Down to $68.16

Cambridge Bancorp (NASDAQ:CATCGet Free Report)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $68.16, but opened at $66.29. Cambridge Bancorp shares last traded at $66.46, with a volume of 3,089 shares traded.

Cambridge Bancorp Stock Down 1.9 %

The stock has a market cap of $504.91 million, a P/E ratio of 14.82 and a beta of 0.58. The company’s 50 day moving average price is $65.82 and its two-hundred day moving average price is $63.53.

Cambridge Bancorp (NASDAQ:CATCGet Free Report) last released its quarterly earnings data on Tuesday, January 30th. The bank reported $1.11 EPS for the quarter, topping the consensus estimate of $0.92 by $0.19. The company had revenue of $38.53 million for the quarter, compared to the consensus estimate of $37.70 million. Cambridge Bancorp had a return on equity of 7.59% and a net margin of 12.25%. As a group, equities research analysts forecast that Cambridge Bancorp will post 3.91 earnings per share for the current year.

Cambridge Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were paid a dividend of $0.67 per share. The ex-dividend date was Wednesday, February 7th. This represents a $2.68 annualized dividend and a dividend yield of 4.17%. Cambridge Bancorp’s dividend payout ratio is currently 61.75%.

Insider Activity at Cambridge Bancorp

In other news, Director Robert Gregg Stone III sold 3,669 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $65.73, for a total value of $241,163.37. Following the completion of the sale, the director now owns 10,708 shares of the company’s stock, valued at approximately $703,836.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in Cambridge Bancorp by 89.0% during the first quarter. Wellington Management Group LLP now owns 209,099 shares of the bank’s stock valued at $13,552,000 after purchasing an additional 98,480 shares in the last quarter. BlackRock Inc. lifted its position in shares of Cambridge Bancorp by 16.0% during the second quarter. BlackRock Inc. now owns 617,636 shares of the bank’s stock valued at $33,544,000 after buying an additional 84,986 shares during the last quarter. Gardner Lewis Asset Management L P bought a new stake in shares of Cambridge Bancorp in the 4th quarter valued at about $5,856,000. Versor Investments LP purchased a new position in shares of Cambridge Bancorp in the 3rd quarter worth approximately $4,178,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Cambridge Bancorp by 50.3% during the first quarter. Dimensional Fund Advisors LP now owns 168,756 shares of the bank’s stock worth $10,937,000 after purchasing an additional 56,508 shares during the last quarter. 55.53% of the stock is currently owned by hedge funds and other institutional investors.

About Cambridge Bancorp

(Get Free Report)

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.

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