Cambridge Trust Co. Has $17.74 Million Stock Holdings in Cambridge Bancorp (NASDAQ:CATC)

Cambridge Trust Co. cut its stake in shares of Cambridge Bancorp (NASDAQ:CATC - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 255,650 shares of the bank's stock after selling 17,187 shares during the quarter. Cambridge Trust Co. owned about 3.26% of Cambridge Bancorp worth $17,742,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Qube Research & Technologies Ltd acquired a new stake in Cambridge Bancorp in the 3rd quarter valued at about $2,004,000. SG Americas Securities LLC acquired a new stake in Cambridge Bancorp in the 3rd quarter valued at about $223,000. OMERS ADMINISTRATION Corp acquired a new stake in Cambridge Bancorp in the 3rd quarter valued at about $1,040,000. Citigroup Inc. grew its stake in Cambridge Bancorp by 103.6% in the 3rd quarter. Citigroup Inc. now owns 6,982 shares of the bank's stock valued at $435,000 after acquiring an additional 3,553 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in Cambridge Bancorp in the 3rd quarter valued at about $4,178,000. 55.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cambridge Bancorp news, Director Robert Gregg Stone III sold 3,669 shares of the firm'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 sale, the director now directly owns 10,708 shares of the company's stock, valued at approximately $703,836.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is owned by corporate insiders.

Cambridge Bancorp Stock Performance

NASDAQ CATC traded up $1.04 during trading hours on Thursday, reaching $60.65. The company's stock had a trading volume of 17,977 shares, compared to its average volume of 29,212. The stock has a market cap of $476.10 million, a PE ratio of 13.97 and a beta of 0.58. Cambridge Bancorp has a fifty-two week low of $44.62 and a fifty-two week high of $73.68. The company's 50-day moving average is $64.50 and its two-hundred day moving average is $63.72.

Cambridge Bancorp (NASDAQ:CATC - Get Free Report) last released 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 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. Equities analysts expect that Cambridge Bancorp will post 4.33 earnings per share for the current fiscal year.

Cambridge Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $2.68 annualized dividend and a dividend yield of 4.42%. Cambridge Bancorp's dividend payout ratio is currently 61.75%.

Cambridge Bancorp 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.