Cambridge Bancorp (NASDAQ:CATC) to Issue $0.67 Quarterly Dividend

Cambridge Bancorp (NASDAQ:CATC - Get Free Report) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Thursday, May 9th will be paid a dividend of 0.67 per share by the bank on Thursday, May 23rd. This represents a $2.68 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Wednesday, May 8th.

Cambridge Bancorp has raised its dividend by an average of 8.1% annually over the last three years and has raised its dividend every year for the last 25 years. Cambridge Bancorp has a payout ratio of 41.9% indicating that its dividend is sufficiently covered by earnings.

Cambridge Bancorp Stock Performance

Shares of NASDAQ CATC traded up $1.01 during trading on Wednesday, hitting $64.72. The company had a trading volume of 10,210 shares, compared to its average volume of 28,267. The stock has a 50 day simple moving average of $64.26 and a 200 day simple moving average of $63.85. The firm has a market capitalization of $508.05 million, a P/E ratio of 14.91 and a beta of 0.58. Cambridge Bancorp has a 12 month low of $44.62 and a 12 month high of $73.68.

Cambridge Bancorp (NASDAQ:CATC - Get Free Report) last issued its earnings results on Tuesday, January 30th. The bank reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.19. Cambridge Bancorp had a return on equity of 7.59% and a net margin of 12.25%. The firm had revenue of $38.53 million for the quarter, compared to analysts' expectations of $37.70 million. As a group, analysts predict that Cambridge Bancorp will post 4.33 EPS for the current year.

Insider Activity at Cambridge Bancorp

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

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.