Cambridge Bancorp (NASDAQ:CATC) Short Interest Down 11.4% in March

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

Insider Buying and Selling at Cambridge Bancorp

In other Cambridge Bancorp news, Director Robert Gregg Stone III sold 3,669 shares of Cambridge Bancorp stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $65.73, for a total value of $241,163.37. Following the transaction, 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 SEC, which is accessible through this link. Insiders own 4.50% of the company’s stock.

Institutional Trading of Cambridge Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in CATC. Bank of New York Mellon Corp raised its position in Cambridge Bancorp by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 43,232 shares of the bank’s stock worth $3,674,000 after acquiring an additional 563 shares in the last quarter. MetLife Investment Management LLC raised its position in Cambridge Bancorp by 56.0% during the first quarter. MetLife Investment Management LLC now owns 4,132 shares of the bank’s stock worth $351,000 after acquiring an additional 1,484 shares in the last quarter. Panagora Asset Management Inc. raised its position in Cambridge Bancorp by 2.2% during the first quarter. Panagora Asset Management Inc. now owns 12,490 shares of the bank’s stock worth $1,062,000 after acquiring an additional 273 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Cambridge Bancorp by 9.4% during the first quarter. Dimensional Fund Advisors LP now owns 82,302 shares of the bank’s stock worth $6,995,000 after acquiring an additional 7,074 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Cambridge Bancorp by 9.8% in the first quarter. First Trust Advisors LP now owns 3,548 shares of the bank’s stock valued at $302,000 after purchasing an additional 316 shares during the last quarter. 55.53% of the stock is owned by institutional investors.

Cambridge Bancorp Stock Down 0.5 %

Shares of CATC stock traded down $0.30 during trading on Tuesday, reaching $61.09. The company’s stock had a trading volume of 20,029 shares, compared to its average volume of 29,631. The business has a fifty day moving average price of $64.71 and a 200-day moving average price of $63.77. The company has a market cap of $479.56 million, a price-to-earnings ratio of 14.08 and a beta of 0.58. Cambridge Bancorp has a one year low of $44.62 and a one year high of $73.68.

Cambridge Bancorp (NASDAQ:CATC) last announced its quarterly earnings data on Tuesday, January 30th. The bank reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.19. The business had revenue of $38.53 million for the quarter, compared to analyst estimates of $37.70 million. Cambridge Bancorp had a net margin of 12.25% and a return on equity of 7.59%. Research analysts anticipate that Cambridge Bancorp will post 4.33 EPS for the current year.

Cambridge Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 4.39%. The ex-dividend date was Wednesday, February 7th. Cambridge Bancorp’s dividend payout ratio (DPR) is currently 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.