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

Cambridge Bancorp (NASDAQ:CATC - Get 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 trading hands.

Cambridge Bancorp Price Performance

The stock has a market capitalization of $514.80 million, a P/E ratio of 15.71 and a beta of 0.58. The firm's 50 day moving average price is $66.00 and its 200 day moving average price is $63.34.

Cambridge Bancorp (NASDAQ:CATC - Get Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The bank reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.19. Cambridge Bancorp had a net margin of 12.25% and a return on equity of 7.59%. The company had revenue of $38.53 million for the quarter, compared to analysts' expectations of $37.70 million. On average, equities research analysts forecast that Cambridge Bancorp will post 3.91 earnings per share for the current year.

Cambridge Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Wednesday, February 7th. Cambridge Bancorp's dividend payout ratio is currently 61.75%.

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 dated Wednesday, March 13th. The shares were sold at an average price of $65.73, for a total transaction of $241,163.37. Following the transaction, the director now owns 10,708 shares in the company, valued at $703,836.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cambridge Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of CATC. Wellington Management Group LLP grew its holdings in Cambridge Bancorp by 89.0% in the first quarter. Wellington Management Group LLP now owns 209,099 shares of the bank's stock worth $13,552,000 after purchasing an additional 98,480 shares during the period. BlackRock Inc. grew its holdings in Cambridge Bancorp by 16.0% in the second quarter. BlackRock Inc. now owns 617,636 shares of the bank's stock worth $33,544,000 after purchasing an additional 84,986 shares during the period. Gardner Lewis Asset Management L P purchased a new stake in shares of Cambridge Bancorp during the fourth quarter valued at approximately $5,856,000. Versor Investments LP purchased a new stake in shares of Cambridge Bancorp during the third quarter valued at approximately $4,178,000. Finally, Dimensional Fund Advisors LP grew 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 valued at $10,937,000 after buying an additional 56,508 shares during the last quarter. Hedge funds and other institutional investors own 55.53% of the company's stock.

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.