Cambridge Bancorp (NASDAQ:CATC) Releases Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Cambridge Bancorp (NASDAQ:CATC) released its quarterly earnings data on Monday. The bank reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.18, MarketWatch Earnings reports. Cambridge Bancorp had a return on equity of 12.60% and a net margin of 21.52%.

Shares of CATC stock traded up $1.89 on Wednesday, hitting $85.00. 7,687 shares of the stock traded hands, compared to its average volume of 14,086. The company has a market cap of $591.60 million, a P/E ratio of 15.68 and a beta of 0.52. Cambridge Bancorp has a 1-year low of $47.75 and a 1-year high of $89.50. The stock’s fifty day moving average is $85.01.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 19th. Investors of record on Thursday, August 5th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Wednesday, August 4th. Cambridge Bancorp’s dividend payout ratio is currently 35.36%.

Several research firms recently commented on CATC. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $93.50 price target (down from $105.00) on shares of Cambridge Bancorp in a research report on Monday. Zacks Investment Research raised Cambridge Bancorp from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research report on Wednesday. Five investment analysts have rated the stock with a buy rating, Cambridge Bancorp currently has an average rating of “Buy” and an average price target of $78.30.

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, trust accounts, individual retirement accounts, and time and demand deposits.

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Earnings History for Cambridge Bancorp (NASDAQ:CATC)

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