Zacks: Brokerages Set $93.00 Price Target for Cambridge Bancorp (NASDAQ:CATC)

Cambridge Bancorp (NASDAQ:CATC) has earned a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.

Brokers have set a one year consensus price objective of $93.00 for the company, according to Zacks. Zacks has also assigned Cambridge Bancorp an industry rank of 143 out of 255 based on the ratings given to related companies.

Large investors have recently bought and sold shares of the business. Acadian Asset Management LLC purchased a new position in Cambridge Bancorp during the second quarter worth approximately $83,000. Bank of Montreal Can raised its stake in Cambridge Bancorp by 60.1% during the second quarter. Bank of Montreal Can now owns 1,023 shares of the bank’s stock worth $84,000 after purchasing an additional 384 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Cambridge Bancorp in the third quarter worth $90,000. JPMorgan Chase & Co. increased its position in shares of Cambridge Bancorp by 30.9% in the second quarter. JPMorgan Chase & Co. now owns 1,179 shares of the bank’s stock worth $94,000 after acquiring an additional 278 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY increased its position in shares of Cambridge Bancorp by 53.8% in the third quarter. Metropolitan Life Insurance Co NY now owns 1,521 shares of the bank’s stock worth $114,000 after acquiring an additional 532 shares in the last quarter. Institutional investors and hedge funds own 35.90% of the company’s stock.

Cambridge Bancorp stock traded down $1.14 during trading on Wednesday, hitting $76.36. The company had a trading volume of 4,631 shares, compared to its average volume of 4,145. Cambridge Bancorp has a 1-year low of $71.24 and a 1-year high of $87.48. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.15. The company’s 50 day simple moving average is $78.64 and its 200-day simple moving average is $78.40. The stock has a market cap of $377.80 million, a price-to-earnings ratio of 13.11 and a beta of 0.12.

Cambridge Bancorp (NASDAQ:CATC) last posted its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.63 by ($0.02). The business had revenue of $31.42 million during the quarter. Cambridge Bancorp had a return on equity of 12.94% and a net margin of 19.09%.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.51 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $2.04 annualized dividend and a dividend yield of 2.67%.

Cambridge Bancorp Company Profile

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.

Further Reading: Accumulation/Distribution

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