Commonwealth Equity Services LLC Trims Holdings in Cambridge Bancorp (NASDAQ:CATC)

Commonwealth Equity Services LLC decreased its stake in shares of Cambridge Bancorp (NASDAQ:CATC – Get Rating) by 6.7% during the third quarter, HoldingsChannel.com reports. The firm owned 25,277 shares of the bank’s stock after selling 1,804 shares during the period. Commonwealth Equity Services LLC’s holdings in Cambridge Bancorp were worth $2,015,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Polaris Capital Management LLC lifted its holdings in shares of Cambridge Bancorp by 565.2% in the second quarter. Polaris Capital Management LLC now owns 1,203,686 shares of the bank’s stock worth $19,042,000 after buying an additional 1,022,729 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Cambridge Bancorp in the 1st quarter worth approximately $3,581,000. The Manufacturers Life Insurance Company boosted its holdings in Cambridge Bancorp by 12.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 360,230 shares of the bank’s stock valued at $30,620,000 after purchasing an additional 39,717 shares during the period. Renaissance Technologies LLC grew its position in shares of Cambridge Bancorp by 69.2% during the 1st quarter. Renaissance Technologies LLC now owns 33,841 shares of the bank’s stock valued at $2,876,000 after purchasing an additional 13,842 shares in the last quarter. Finally, Keeley Teton Advisors LLC increased its holdings in shares of Cambridge Bancorp by 21.0% in the third quarter. Keeley Teton Advisors LLC now owns 67,998 shares of the bank’s stock worth $5,422,000 after purchasing an additional 11,786 shares during the period. Institutional investors own 49.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CATC. JPMorgan Chase & Co. restated a “neutral” rating and set a $87.00 target price on shares of Cambridge Bancorp in a research report on Thursday, February 16th. Janney Montgomery Scott cut shares of Cambridge Bancorp from a “buy” rating to a “neutral” rating and set a $87.00 price objective on the stock. in a research report on Thursday, February 16th. Finally, Raymond James began coverage on shares of Cambridge Bancorp in a research report on Tuesday, December 20th. They set a “market perform” rating for the company.

Insider Activity at Cambridge Bancorp

In other Cambridge Bancorp news, EVP Martin B. Millane sold 1,226 shares of the business’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $85.00, for a total value of $104,210.00. Following the completion of the sale, the executive vice president now directly owns 15,485 shares of the company’s stock, valued at $1,316,225. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is owned by insiders.

Cambridge Bancorp Stock Down 9.0 %

NASDAQ CATC opened at $62.56 on Tuesday. The stock’s 50-day simple moving average is $80.88 and its two-hundred day simple moving average is $83.10. Cambridge Bancorp has a twelve month low of $62.28 and a twelve month high of $93.00. The company has a market capitalization of $487.97 million, a price-to-earnings ratio of 9.37 and a beta of 0.51.

Cambridge Bancorp (NASDAQ:CATC – Get Rating) last announced its quarterly earnings data on Tuesday, January 24th. The bank reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.11). The firm had revenue of $50.95 million for the quarter, compared to analysts’ expectations of $51.45 million. Cambridge Bancorp had a net margin of 26.06% and a return on equity of 12.79%. On average, equities analysts expect that Cambridge Bancorp will post 7.86 earnings per share for the current fiscal year.

Cambridge Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 23rd. Stockholders of record on Thursday, February 9th were paid a $0.67 dividend. This is a boost from Cambridge Bancorp’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Wednesday, February 8th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.28%. Cambridge Bancorp’s dividend payout ratio is 36.51%.

Cambridge Bancorp Company Profile

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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.