Cambridge Bancorp (NASDAQ:CATC – Get Rating) declared a quarterly dividend on Monday, January 23rd, Zacks reports. Shareholders of record on Thursday, February 9th will be given a dividend of 0.67 per share by the bank on Thursday, February 23rd. This represents a $2.68 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Wednesday, February 8th. This is a positive change from Cambridge Bancorp’s previous quarterly dividend of $0.64.
Cambridge Bancorp has increased its dividend by an average of 7.9% annually over the last three years and has increased its dividend annually for the last 24 consecutive years. Cambridge Bancorp has a payout ratio of 25.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cambridge Bancorp to earn $9.00 per share next year, which means the company should continue to be able to cover its $2.56 annual dividend with an expected future payout ratio of 28.4%.
Cambridge Bancorp Price Performance
Cambridge Bancorp stock traded up $0.03 during trading hours on Wednesday, hitting $77.96. The company had a trading volume of 2,923 shares, compared to its average volume of 56,383. The firm has a market capitalization of $607.78 million, a P/E ratio of 9.99 and a beta of 0.50. The firm’s fifty day moving average is $85.15 and its 200-day moving average is $83.81. Cambridge Bancorp has a fifty-two week low of $76.50 and a fifty-two week high of $93.25.
Institutional Trading of Cambridge Bancorp
Analysts Set New Price Targets
Separately, Raymond James assumed coverage on shares of Cambridge Bancorp in a research note on Tuesday, December 20th. They issued a “market perform” rating on the stock.
About Cambridge Bancorp
Cambridge Bancorp operates as the bank holding company for Cambridge Trust Company that provides 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; and time and demand deposits, and certificates of deposit.
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