Cambridge Bancorp (NASDAQ:CATC) Sees Significant Decline in Short Interest

Cambridge Bancorp (NASDAQ:CATC) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 110,800 shares, a decrease of 11.4% from the March 15th total of 125,000 shares. Based on an average daily volume of 29,700 shares, the days-to-cover ratio is currently 3.7 days.

Insider Buying and Selling at Cambridge Bancorp

In related news, Director Robert Gregg Stone III sold 3,669 shares of Cambridge Bancorp stock in a transaction dated 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 approximately $703,836.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Cambridge Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its holdings in Cambridge Bancorp by 183.3% in the second quarter. Tower Research Capital LLC TRC now owns 663 shares of the bank’s stock worth $36,000 after acquiring an additional 429 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new position in Cambridge Bancorp in the fourth quarter worth about $66,000. Quest Partners LLC bought a new position in shares of Cambridge Bancorp in the fourth quarter worth approximately $104,000. Quadrant Capital Group LLC grew its holdings in shares of Cambridge Bancorp by 30.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,691 shares of the bank’s stock valued at $117,000 after buying an additional 397 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Cambridge Bancorp by 28.2% during the fourth quarter. BNP Paribas Financial Markets now owns 2,102 shares of the bank’s stock valued at $146,000 after acquiring an additional 462 shares in the last quarter. 55.53% of the stock is owned by hedge funds and other institutional investors.

Cambridge Bancorp Price Performance

CATC stock traded down $0.30 during midday trading on Tuesday, reaching $61.09. The company had a trading volume of 20,029 shares, compared to its average volume of 29,631. Cambridge Bancorp has a 1 year low of $44.62 and a 1 year high of $73.68. The firm has a 50-day moving average price of $64.71 and a 200-day moving average price of $63.77. The company has a market capitalization of $479.56 million, a P/E ratio of 14.08 and a beta of 0.58.

Cambridge Bancorp (NASDAQ:CATC) last announced its 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 7.59% and a net margin of 12.25%. The firm had revenue of $38.53 million during the quarter, compared to analyst estimates of $37.70 million. On average, equities analysts predict that Cambridge Bancorp will post 4.33 EPS for the current year.

Cambridge Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date was Wednesday, February 7th. Cambridge Bancorp’s dividend payout ratio (DPR) is presently 61.75%.

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.