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

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

Insider Transactions at Cambridge Bancorp

In other news, Director Robert Gregg Stone III sold 3,669 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $65.73, for a total transaction of $241,163.37. Following the completion of the transaction, the director now directly owns 10,708 shares of the company’s stock, valued at approximately $703,836.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Cambridge Bancorp

Hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd acquired a new position in shares of Cambridge Bancorp in the 4th quarter valued at $239,000. Hennessy Advisors Inc. acquired a new position in shares of Cambridge Bancorp in the 4th quarter valued at $2,221,000. Vanguard Group Inc. boosted its holdings in shares of Cambridge Bancorp by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 410,645 shares of the bank’s stock valued at $28,499,000 after purchasing an additional 9,252 shares during the last quarter. Barclays PLC acquired a new position in shares of Cambridge Bancorp in the 4th quarter valued at $824,000. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Cambridge Bancorp by 9.6% in the 4th quarter. Nuveen Asset Management LLC now owns 27,032 shares of the bank’s stock valued at $1,876,000 after purchasing an additional 2,359 shares during the last quarter. Institutional investors and hedge funds own 55.53% of the company’s stock.

Cambridge Bancorp Stock Performance

NASDAQ CATC traded down $0.30 during mid-day trading on Tuesday, reaching $61.09. 20,029 shares of the stock were exchanged, 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 business’s fifty day simple moving average is $64.71 and its 200 day simple moving average is $63.77. The stock has a market capitalization of $479.56 million, a PE 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 analysts’ consensus estimates of $0.92 by $0.19. Cambridge Bancorp had a net margin of 12.25% and a return on equity of 7.59%. The firm had revenue of $38.53 million for the quarter, compared to analyst estimates of $37.70 million. On average, analysts anticipate that Cambridge Bancorp will post 4.33 EPS for the current year.

Cambridge Bancorp Dividend Announcement

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

Cambridge Bancorp Company 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.