Flputnam Investment Management Co. Trims Position in Cambridge Bancorp (NASDAQ:CATC)

Flputnam Investment Management Co. trimmed its stake in Cambridge Bancorp (NASDAQ:CATC) by 55.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,128 shares of the bank’s stock after selling 6,500 shares during the period. Flputnam Investment Management Co. owned about 0.07% of Cambridge Bancorp worth $356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in CATC. Royal Bank of Canada boosted its holdings in shares of Cambridge Bancorp by 1.8% in the third quarter. Royal Bank of Canada now owns 8,882 shares of the bank’s stock valued at $709,000 after purchasing an additional 161 shares during the period. Tower Research Capital LLC TRC raised its position in Cambridge Bancorp by 32.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 876 shares of the bank’s stock valued at $55,000 after purchasing an additional 213 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Cambridge Bancorp by 6.2% in the 2nd quarter. Cerity Partners LLC now owns 4,084 shares of the bank’s stock worth $222,000 after buying an additional 239 shares during the period. Captrust Financial Advisors grew its position in shares of Cambridge Bancorp by 7.3% during the 2nd quarter. Captrust Financial Advisors now owns 3,889 shares of the bank’s stock worth $211,000 after buying an additional 264 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in shares of Cambridge Bancorp by 2.2% during the first quarter. Panagora Asset Management Inc. now owns 12,490 shares of the bank’s stock valued at $1,062,000 after buying an additional 273 shares during the period. 55.53% of the stock is currently owned by institutional investors.

Cambridge Bancorp Price Performance

CATC stock opened at $60.65 on Friday. Cambridge Bancorp has a 1-year low of $44.62 and a 1-year high of $73.68. The business has a 50-day moving average price of $64.50 and a 200 day moving average price of $63.72. The company has a market capitalization of $476.10 million, a P/E ratio of 13.97 and a beta of 0.58.

Cambridge Bancorp (NASDAQ:CATC) last posted its quarterly earnings results on Tuesday, January 30th. The bank reported $1.11 EPS for the quarter, beating the consensus estimate of $0.92 by $0.19. Cambridge Bancorp had a net margin of 12.25% and a return on equity of 7.59%. The business had revenue of $38.53 million during the quarter, compared to analyst estimates of $37.70 million. On average, analysts anticipate that Cambridge Bancorp will post 4.33 earnings per share for the current fiscal year.

Cambridge Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $2.68 dividend on an annualized basis and a yield of 4.42%. Cambridge Bancorp’s dividend payout ratio is currently 61.75%.

Insider Buying and Selling at Cambridge Bancorp

In other news, Director Robert Gregg Stone III sold 3,669 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $65.73, for a total value of $241,163.37. Following the completion of the transaction, the director now directly owns 10,708 shares of the company’s stock, valued at approximately $703,836.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.50% of the company’s stock.

About Cambridge Bancorp

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.