Cambridge Bancorp (NASDAQ:CATC - Get Free Report) saw a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 100,800 shares, a decline of 9.0% from the March 31st total of 110,800 shares. Based on an average daily trading volume, of 27,600 shares, the days-to-cover ratio is presently 3.7 days.
Insider Transactions at Cambridge Bancorp
In related news, Director Robert Gregg Stone III sold 3,669 shares of the company's stock in a transaction on Wednesday, March 13th. The stock was 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 directly 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 accessible through the SEC website. Corporate insiders own 4.50% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Cambridge Bancorp during the third quarter valued at approximately $223,000. Sentinel Pension Advisors Inc. grew its stake in shares of Cambridge Bancorp by 27.6% in the third quarter. Sentinel Pension Advisors Inc. now owns 30,804 shares of the bank's stock valued at $1,919,000 after buying an additional 6,668 shares in the last quarter. Sippican Capital Advisors increased its holdings in Cambridge Bancorp by 16.0% during the third quarter. Sippican Capital Advisors now owns 35,626 shares of the bank's stock worth $2,219,000 after buying an additional 4,905 shares during the last quarter. Bank of New York Mellon Corp raised its position in Cambridge Bancorp by 2.3% during the third 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. acquired a new stake in Cambridge Bancorp in the third quarter valued at $1,549,000. Institutional investors own 55.53% of the company's stock.
Cambridge Bancorp Price Performance
Shares of NASDAQ CATC traded down $1.62 during mid-day trading on Monday, hitting $62.66. The company's stock had a trading volume of 25,125 shares, compared to its average volume of 27,823. The company's fifty day simple moving average is $64.08 and its 200-day simple moving average is $63.92. Cambridge Bancorp has a one year low of $44.62 and a one year high of $73.68. The stock has a market cap of $491.88 million, a price-to-earnings ratio of 17.64 and a beta of 0.58.
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, topping the consensus estimate of $0.92 by $0.19. Cambridge Bancorp had a return on equity of 6.69% and a net margin of 10.11%. The company had revenue of $38.53 million during the quarter, compared to the consensus estimate of $37.70 million. On average, sell-side analysts predict that Cambridge Bancorp will post 4.33 EPS for the current year.
Cambridge Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be issued a $0.67 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.28%. Cambridge Bancorp's dividend payout ratio (DPR) is presently 73.83%.
Cambridge Bancorp Company Profile
(
Get Free Report)
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.
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