Cambridge Bancorp (NASDAQ:CATC) Upgraded to Outperform at Keefe, Bruyette & Woods

Cambridge Bancorp (NASDAQ:CATC) was upgraded by Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday, The Fly reports.

Shares of Cambridge Bancorp stock traded up $0.37 on Tuesday, reaching $74.50. 11,999 shares of the company traded hands, compared to its average volume of 6,790. The company has a 50 day moving average of $78.57 and a 200 day moving average of $78.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.89 and a quick ratio of 0.89. Cambridge Bancorp has a 52 week low of $71.24 and a 52 week high of $86.20. The firm has a market capitalization of $360.09 million, a PE ratio of 12.50 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 analysts’ consensus estimates of $1.63 by ($0.02). Cambridge Bancorp had a return on equity of 12.94% and a net margin of 19.09%. The company had revenue of $31.42 million during the quarter.

A number of large investors have recently added to or reduced their stakes in CATC. Acadian Asset Management LLC bought a new stake in shares of Cambridge Bancorp in the second quarter valued at $83,000. Bank of Montreal Can lifted its position in shares of Cambridge Bancorp by 60.1% during the 2nd quarter. Bank of Montreal Can now owns 1,023 shares of the bank’s stock valued at $84,000 after buying an additional 384 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Cambridge Bancorp during the 3rd quarter worth $90,000. JPMorgan Chase & Co. grew its stake in shares of Cambridge Bancorp by 30.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,179 shares of the bank’s stock worth $94,000 after acquiring an additional 278 shares during the period. Finally, Metropolitan Life Insurance Co NY increased its holdings in Cambridge Bancorp by 53.8% in the 3rd 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 during the last quarter. 35.89% of the stock is owned by institutional investors and hedge funds.

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.

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