Cambridge Bancorp (NASDAQ:CATC) – Investment analysts at Piper Sandler increased their Q3 2020 earnings estimates for Cambridge Bancorp in a research note issued to investors on Tuesday, July 28th. Piper Sandler analyst M. Fitzgibbon now expects that the bank will post earnings of $1.65 per share for the quarter, up from their prior forecast of $1.40. Piper Sandler has a “Neutral” rating and a $62.00 price objective on the stock. Piper Sandler also issued estimates for Cambridge Bancorp’s Q4 2020 earnings at $1.51 EPS, FY2020 earnings at $5.85 EPS, Q1 2021 earnings at $1.18 EPS and Q2 2021 earnings at $1.24 EPS.
Cambridge Bancorp (NASDAQ:CATC) last posted its quarterly earnings data on Tuesday, July 28th. The bank reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.65. Cambridge Bancorp had a return on equity of 11.24% and a net margin of 13.77%. The business had revenue of $37.76 million for the quarter, compared to analyst estimates of $36.90 million.
CATC has been the topic of a number of other research reports. ValuEngine lowered Cambridge Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, April 7th. Zacks Investment Research raised Cambridge Bancorp from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Friday, May 22nd. Finally, BidaskClub lowered Cambridge Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $70.00.
Cambridge Bancorp stock opened at $54.19 on Friday. Cambridge Bancorp has a twelve month low of $44.20 and a twelve month high of $82.80. The stock’s fifty day simple moving average is $55.01 and its 200-day simple moving average is $58.94. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $293.71 million, a P/E ratio of 13.45 and a beta of 0.54.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.91%. The ex-dividend date is Wednesday, August 12th. Cambridge Bancorp’s dividend payout ratio (DPR) is presently 34.19%.
In related news, CEO Denis K. Sheahan acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was bought at an average price of $50.46 per share, for a total transaction of $50,460.00. Also, Director Leon Aghababai Palandjian acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was bought at an average price of $50.46 per share, with a total value of $151,380.00. Corporate insiders own 2.58% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its stake in Cambridge Bancorp by 44.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,126 shares of the bank’s stock valued at $90,000 after purchasing an additional 349 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Cambridge Bancorp by 146.5% in the 4th quarter. Renaissance Technologies LLC now owns 31,300 shares of the bank’s stock valued at $2,509,000 after purchasing an additional 18,600 shares during the period. UBS Group AG boosted its holdings in Cambridge Bancorp by 14.8% in the 4th quarter. UBS Group AG now owns 7,723 shares of the bank’s stock valued at $619,000 after purchasing an additional 994 shares during the period. Bank of New York Mellon Corp boosted its holdings in Cambridge Bancorp by 59.2% in the 4th quarter. Bank of New York Mellon Corp now owns 29,261 shares of the bank’s stock valued at $2,345,000 after purchasing an additional 10,886 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Cambridge Bancorp by 26.7% in the 4th quarter. Geode Capital Management LLC now owns 61,860 shares of the bank’s stock valued at $4,958,000 after purchasing an additional 13,052 shares during the period. Institutional investors own 47.69% of the company’s 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 and savings accounts, certificates of deposit, money market accounts, individual retirement accounts, and time and demand deposits.
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