Gardner Lewis Asset Management L P Purchases New Shares in Cambridge Bancorp (NASDAQ:CATC)

Gardner Lewis Asset Management L P purchased a new stake in Cambridge Bancorp (NASDAQ:CATC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 84,383 shares of the bank's stock, valued at approximately $5,856,000. Cambridge Bancorp comprises 2.0% of Gardner Lewis Asset Management L P's holdings, making the stock its 19th biggest holding. Gardner Lewis Asset Management L P owned about 1.07% of Cambridge Bancorp at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CATC. Endeavour Capital Advisors Inc. raised its holdings in Cambridge Bancorp by 22.5% during the 3rd quarter. Endeavour Capital Advisors Inc. now owns 208,503 shares of the bank's stock worth $12,988,000 after purchasing an additional 38,365 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Cambridge Bancorp during the 3rd quarter worth about $2,004,000. New York Life Investment Management LLC acquired a new position in shares of Cambridge Bancorp during the 4th quarter worth about $1,255,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Cambridge Bancorp during the 3rd quarter worth about $1,040,000. Finally, Wade G W & Inc. acquired a new position in shares of Cambridge Bancorp during the 4th quarter worth about $851,000. 55.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Cambridge Bancorp

In other news, Director Robert Gregg Stone III sold 3,669 shares of the company's stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $65.73, for a total transaction of $241,163.37. Following the sale, the director now owns 10,708 shares in the company, valued at approximately $703,836.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.50% of the company's stock.

Cambridge Bancorp Price Performance

Shares of Cambridge Bancorp stock traded down $0.14 during trading on Monday, hitting $66.80. 31,813 shares of the company were exchanged, compared to its average volume of 26,569. The firm has a market capitalization of $524.38 million, a P/E ratio of 18.40 and a beta of 0.63. Cambridge Bancorp has a 1-year low of $48.37 and a 1-year high of $73.68. The firm's fifty day moving average price is $65.17 and its 200 day moving average price is $65.64.

Cambridge Bancorp (NASDAQ:CATC - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $37.46 million during the quarter, compared to analyst estimates of $38.00 million. As a group, equities research analysts anticipate that Cambridge Bancorp will post 4.33 earnings per share for the current year.

Cambridge Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend was Wednesday, May 8th. 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.

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