Cambridge Bancorp (NASDAQ:CATC) has earned an average broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. Cambridge Bancorp’s rating score has declined by 100% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 1 year consensus price target of $93.00 for the company, according to Zacks. Zacks has also assigned Cambridge Bancorp an industry rank of 219 out of 255 based on the ratings given to related companies.
Separately, Keefe, Bruyette & Woods initiated coverage on shares of Cambridge Bancorp in a research note on Monday, July 22nd. They set a “market perform” rating and a $90.00 price target for the company.
Cambridge Bancorp (NASDAQ:CATC) last issued its quarterly earnings results on Tuesday, July 16th. The bank reported $1.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.10). Cambridge Bancorp had a return on equity of 13.72% and a net margin of 19.92%. The company had revenue of $27.92 million for the quarter.
Hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its holdings in Cambridge Bancorp by 768.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 782 shares of the bank’s stock worth $65,000 after buying an additional 692 shares during the period. Bank of Montreal Can boosted its holdings in Cambridge Bancorp by 60.1% in the 2nd quarter. Bank of Montreal Can now owns 1,023 shares of the bank’s stock worth $84,000 after buying an additional 384 shares during the period. Acadian Asset Management LLC bought a new position in Cambridge Bancorp in the 2nd quarter worth approximately $83,000. JPMorgan Chase & Co. boosted its holdings in Cambridge Bancorp by 30.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,179 shares of the bank’s stock worth $94,000 after buying an additional 278 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in Cambridge Bancorp by 57.3% in the 2nd quarter. Captrust Financial Advisors now owns 1,785 shares of the bank’s stock worth $145,000 after buying an additional 650 shares during the period. Institutional investors own 34.78% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cambridge Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cambridge Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.