Cambridge Bancorp (NASDAQ:CATC) Short Interest Up 19.1% in June

Cambridge Bancorp (NASDAQ:CATC) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 73,000 shares, a growth of 19.1% from the May 31st total of 61,300 shares. Based on an average daily volume of 23,100 shares, the days-to-cover ratio is currently 3.2 days.

Cambridge Bancorp Trading Down 1.1 %

NASDAQ CATC traded down $0.73 during trading on Monday, reaching $68.27. The company’s stock had a trading volume of 20,734 shares, compared to its average volume of 28,550. Cambridge Bancorp has a 12 month low of $48.37 and a 12 month high of $73.68. The firm has a 50 day moving average price of $65.84 and a 200 day moving average price of $66.16. The firm has a market capitalization of $535.92 million, a price-to-earnings ratio of 18.81 and a beta of 0.65.

Cambridge Bancorp (NASDAQ:CATC) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.03). Cambridge Bancorp had a net margin of 10.11% and a return on equity of 6.67%. The company had revenue of $37.46 million during the quarter, compared to the consensus estimate of $38.00 million. On average, equities analysts forecast that Cambridge Bancorp will post 4.33 EPS for the current fiscal year.

Cambridge Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Wednesday, May 8th. Cambridge Bancorp’s payout ratio is currently 73.83%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Longfellow Investment Management Co. LLC bought a new position in Cambridge Bancorp in the 4th quarter valued at about $66,000. Quest Partners LLC bought a new position in Cambridge Bancorp in the fourth quarter valued at approximately $104,000. Quadrant Capital Group LLC raised its position in Cambridge Bancorp by 30.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,691 shares of the bank’s stock valued at $117,000 after purchasing an additional 397 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Cambridge Bancorp by 36.6% during the third quarter. PNC Financial Services Group Inc. now owns 2,405 shares of the bank’s stock worth $150,000 after purchasing an additional 645 shares during the last quarter. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Cambridge Bancorp in the 4th quarter valued at $205,000. Institutional investors and hedge funds own 55.53% 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.