Cambridge Bancorp (NASDAQ:CATC) Sees Large Decrease in Short Interest

Cambridge Bancorp (NASDAQ:CATCGet Free Report) was the target of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 61,300 shares, a drop of 12.4% from the May 15th total of 70,000 shares. Based on an average daily trading volume, of 22,900 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Gardner Lewis Asset Management L P purchased a new position in Cambridge Bancorp during the 4th quarter valued at about $5,856,000. Qube Research & Technologies Ltd bought a new position in Cambridge Bancorp in the 3rd quarter valued at approximately $2,004,000. OMERS ADMINISTRATION Corp purchased a new stake in Cambridge Bancorp during the 3rd quarter valued at $1,040,000. Citigroup Inc. increased its holdings in shares of Cambridge Bancorp by 103.6% in the 3rd quarter. Citigroup Inc. now owns 6,982 shares of the bank’s stock worth $435,000 after purchasing an additional 3,553 shares in the last quarter. Finally, Wade G W & Inc. purchased a new position in shares of Cambridge Bancorp in the fourth quarter worth $851,000. Institutional investors own 55.53% of the company’s stock.

Cambridge Bancorp Stock Performance

Shares of Cambridge Bancorp stock traded up $0.08 during midday trading on Tuesday, reaching $65.19. 50,204 shares of the company’s stock traded hands, compared to its average volume of 26,873. The company has a market cap of $511.74 million, a PE ratio of 18.09 and a beta of 0.63. The stock has a 50 day moving average of $65.03 and a 200-day moving average of $66.04. Cambridge Bancorp has a 12 month low of $48.37 and a 12 month high of $73.68.

Cambridge Bancorp (NASDAQ:CATCGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $1.02 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.03). The company had revenue of $37.46 million during the quarter, compared to the consensus estimate of $38.00 million. Cambridge Bancorp had a return on equity of 6.67% and a net margin of 10.11%. On average, equities analysts anticipate that Cambridge Bancorp will post 4.33 earnings per share for the current fiscal year.

Cambridge Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.11%. Cambridge Bancorp’s dividend payout ratio (DPR) is 73.83%.

About Cambridge Bancorp

(Get Free Report)

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.

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