Cambridge Bancorp (CATC) Set to Announce Earnings on Tuesday

Cambridge Bancorp (NASDAQ:CATC) is set to issue 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 released its quarterly earnings data on Tuesday, January 30th. The bank reported $1.11 earnings per share (EPS) 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 analyst estimates of $37.70 million.

Cambridge Bancorp Stock Up 3.8 %

Shares of NASDAQ CATC opened at $62.95 on Friday. The company has a market cap of $494.16 million, a P/E ratio of 14.50 and a beta of 0.58. Cambridge Bancorp has a 52 week low of $44.62 and a 52 week high of $73.68. The business has a 50-day simple moving average of $64.41 and a two-hundred day simple moving average of $63.77.

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 issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend was Wednesday, February 7th. Cambridge Bancorp’s payout ratio is 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 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 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. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP raised its stake in Cambridge Bancorp by 89.0% in 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. raised its position in shares of Cambridge Bancorp by 16.0% during the 2nd 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 in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Cambridge Bancorp by 50.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 168,756 shares of the bank’s stock worth $10,937,000 after acquiring an additional 56,508 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Cambridge Bancorp by 12.4% in the first quarter. The Manufacturers Life Insurance Company now owns 360,230 shares of the bank’s stock worth $30,620,000 after acquiring an additional 39,717 shares in the last quarter. Finally, Prelude Capital Management LLC bought a new position in Cambridge Bancorp in the fourth quarter valued at $1,426,000. Hedge funds and other institutional investors own 55.53% of the company’s stock.

About Cambridge Bancorp

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.