Short Interest in Cambridge Bancorp (NASDAQ:CATC) Decreases By 12.4%

Cambridge Bancorp (NASDAQ:CATC - Get Free Report) was the target of a significant decrease in short interest in May. As of May 31st, there was short interest totalling 61,300 shares, a decrease of 12.4% from the May 15th total of 70,000 shares. Based on an average daily volume of 22,900 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Trading of Cambridge Bancorp

A number of large investors have recently made changes to their positions in the company. Sentinel Pension Advisors Inc. increased its stake in shares of Cambridge Bancorp by 0.8% during the first quarter. Sentinel Pension Advisors Inc. now owns 28,115 shares of the bank's stock worth $1,916,000 after buying an additional 222 shares during the period. Kingsview Wealth Management LLC increased its stake in Cambridge Bancorp by 6.7% in the first quarter. Kingsview Wealth Management LLC now owns 3,150 shares of the bank's stock valued at $215,000 after purchasing an additional 199 shares during the last quarter. Empowered Funds LLC increased its stake in Cambridge Bancorp by 7.7% in the first quarter. Empowered Funds LLC now owns 19,554 shares of the bank's stock valued at $1,333,000 after purchasing an additional 1,400 shares during the last quarter. Howland Capital Management LLC purchased a new position in Cambridge Bancorp in the first quarter valued at approximately $348,000. Finally, BNP Paribas Financial Markets increased its stake in Cambridge Bancorp by 78.5% in the first quarter. BNP Paribas Financial Markets now owns 3,752 shares of the bank's stock valued at $256,000 after purchasing an additional 1,650 shares during the last quarter. 55.53% of the stock is currently owned by hedge funds and other institutional investors.

Cambridge Bancorp Stock Performance

Shares of CATC traded down $0.28 during mid-day trading on Friday, hitting $64.58. 39,252 shares of the company's stock were exchanged, compared to its average volume of 19,972. The company has a market cap of $506.95 million, a price-to-earnings ratio of 17.79 and a beta of 0.63. Cambridge Bancorp has a fifty-two week low of $48.37 and a fifty-two week high of $73.68. The stock's 50-day moving average is $65.03 and its 200-day moving average is $65.99.

Cambridge Bancorp (NASDAQ:CATC - Get Free Report) 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 return on equity of 6.67% and a net margin of 10.11%. The business had revenue of $37.46 million for the quarter, compared to analyst estimates of $38.00 million. As a group, equities research analysts anticipate that Cambridge Bancorp will post 4.33 EPS for the current year.

Cambridge Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.15%. Cambridge Bancorp's payout ratio is 73.83%.

Cambridge Bancorp Company Profile

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.