Cambridge Bancorp (NASDAQ:CATC) Shares Gap Down to $63.71

Shares of Cambridge Bancorp (NASDAQ:CATC) gapped down before the market opened on Wednesday . The stock had previously closed at $63.71, but opened at $62.07. Cambridge Bancorp shares last traded at $63.81, with a volume of 1,935 shares.

Cambridge Bancorp Stock Up 1.6 %

The stock’s 50-day moving average price is $64.26 and its 200-day moving average price is $63.85. The company has a market capitalization of $508.05 million, a price-to-earnings ratio of 14.91 and a beta of 0.58.

Cambridge Bancorp (NASDAQ:CATC) last announced its quarterly earnings data on Tuesday, January 30th. The bank reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.19. The firm had revenue of $38.53 million for the quarter, compared to analyst estimates of $37.70 million. Cambridge Bancorp had a return on equity of 7.59% and a net margin of 12.25%. On average, equities research analysts anticipate that Cambridge Bancorp will post 4.33 EPS for the current year.

Cambridge Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Wednesday, May 8th. Cambridge Bancorp’s dividend payout ratio (DPR) is presently 61.75%.

Insider Transactions at Cambridge Bancorp

In related news, Director Robert Gregg Stone III sold 3,669 shares of the 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 transaction, the director now directly owns 10,708 shares in the company, valued at $703,836.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cambridge Bancorp

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in shares of Cambridge Bancorp during the third quarter worth $223,000. Sentinel Pension Advisors Inc. lifted its stake in Cambridge Bancorp by 27.6% in the 3rd quarter. Sentinel Pension Advisors Inc. now owns 30,804 shares of the bank’s stock valued at $1,919,000 after acquiring an additional 6,668 shares in the last quarter. Sippican Capital Advisors boosted its position in Cambridge Bancorp by 16.0% during the 3rd quarter. Sippican Capital Advisors now owns 35,626 shares of the bank’s stock worth $2,219,000 after acquiring an additional 4,905 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Cambridge Bancorp by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 53,984 shares of the bank’s stock worth $3,363,000 after acquiring an additional 1,231 shares in the last quarter. Finally, Brown Advisory Inc. bought a new position in shares of Cambridge Bancorp during the 3rd quarter worth approximately $1,549,000. 55.53% of the stock is currently 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.