Short Interest in Cambridge Bancorp (NASDAQ:CATC) Drops By 12.4%

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

Cambridge Bancorp Price Performance

Shares of CATC stock traded down $0.28 on Friday, hitting $64.58. 39,252 shares of the company’s stock were exchanged, compared to its average volume of 19,972. The stock has a market cap of $506.95 million, a P/E ratio of 17.79 and a beta of 0.63. The company has a 50 day moving average of $65.03 and a 200 day moving average of $65.95. 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 released its quarterly earnings results on Tuesday, April 23rd. The bank reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.03). Cambridge Bancorp had a net margin of 10.11% and a return on equity of 6.67%. The business had revenue of $37.46 million for the quarter, compared to the consensus estimate of $38.00 million. Sell-side analysts predict that Cambridge Bancorp will post 4.33 EPS for the current fiscal year.

Cambridge Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were given a $0.67 dividend. 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 4.15%. Cambridge Bancorp’s dividend payout ratio (DPR) is currently 73.83%.

Hedge Funds Weigh In On Cambridge Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gardner Lewis Asset Management L P acquired a new stake in shares of Cambridge Bancorp during the 4th quarter worth approximately $5,856,000. Endeavour Capital Advisors Inc. raised its holdings in shares of Cambridge Bancorp by 22.5% during the third quarter. Endeavour Capital Advisors Inc. now owns 208,503 shares of the bank’s stock valued at $12,988,000 after purchasing an additional 38,365 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Cambridge Bancorp during the 3rd quarter worth about $2,004,000. Hennessy Advisors Inc. acquired a new stake in shares of Cambridge Bancorp in the 4th quarter valued at about $2,221,000. Finally, New York Life Investment Management LLC acquired a new position in shares of Cambridge Bancorp during the fourth quarter valued at about $1,255,000. Institutional investors and hedge funds own 55.53% of the company’s stock.

Cambridge Bancorp Company Profile

(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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