Sippican Capital Advisors Reduces Stake in Cambridge Bancorp (NASDAQ:CATC)

Sippican Capital Advisors trimmed its position in shares of Cambridge Bancorp (NASDAQ:CATC - Free Report) by 46.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,230 shares of the bank's stock after selling 16,396 shares during the quarter. Sippican Capital Advisors owned approximately 0.24% of Cambridge Bancorp worth $1,335,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Cambridge Bancorp by 16.0% during the second quarter. BlackRock Inc. now owns 617,636 shares of the bank's stock worth $33,544,000 after acquiring an additional 84,986 shares during the last quarter. Vanguard Group Inc. increased its holdings in Cambridge Bancorp by 0.9% in the third quarter. Vanguard Group Inc. now owns 401,393 shares of the bank's stock worth $25,003,000 after purchasing an additional 3,389 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings 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 purchasing an additional 39,717 shares in the last quarter. Cambridge Trust Co. increased its holdings in Cambridge Bancorp by 25.1% in the third quarter. Cambridge Trust Co. now owns 272,837 shares of the bank's stock worth $16,995,000 after purchasing an additional 54,689 shares in the last quarter. Finally, Wellington Management Group LLP increased 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 in the last quarter. 55.53% of the stock is owned by institutional investors and hedge funds.

Cambridge Bancorp Trading Down 0.3 %

CATC stock traded down $0.18 during mid-day trading on Monday, reaching $61.39. The company's stock had a trading volume of 17,853 shares, compared to its average volume of 29,765. The company has a market cap of $481.91 million, a price-to-earnings ratio of 14.19 and a beta of 0.58. The business's 50 day moving average price is $64.89 and its 200 day moving average price is $63.78. 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 for the quarter, topping analysts' consensus estimates of $0.92 by $0.19. The business had revenue of $38.53 million during the quarter, compared to the consensus estimate of $37.70 million. Cambridge Bancorp had a return on equity of 7.59% and a net margin of 12.25%. As a group, equities analysts expect that Cambridge Bancorp will post 4.33 EPS for the current fiscal year.

Cambridge Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were paid a $0.67 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $2.68 dividend on an annualized basis and a yield of 4.37%. Cambridge Bancorp's dividend payout ratio (DPR) is presently 61.75%.

Insider Buying and Selling at Cambridge Bancorp

In other Cambridge Bancorp news, Director Robert Gregg Stone III sold 3,669 shares of the firm's stock in a transaction that occurred 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 sale, 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 available at this hyperlink. Insiders own 4.50% 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.