Cambridge Bancorp (NASDAQ:CATC) – Equities researchers at Piper Sandler lifted their Q3 2021 EPS estimates for Cambridge Bancorp in a research report issued on Tuesday, July 20th. Piper Sandler analyst M. Fitzgibbon now expects that the bank will post earnings of $1.81 per share for the quarter, up from their prior forecast of $1.73. Piper Sandler also issued estimates for Cambridge Bancorp’s Q4 2021 earnings at $1.75 EPS, FY2021 earnings at $7.45 EPS, Q1 2022 earnings at $1.81 EPS, Q2 2022 earnings at $1.85 EPS, Q3 2022 earnings at $1.89 EPS, Q4 2022 earnings at $1.92 EPS and FY2022 earnings at $7.47 EPS.
A number of other equities analysts have also recently commented on CATC. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $93.50 target price (down previously from $105.00) on shares of Cambridge Bancorp in a report on Monday. Zacks Investment Research raised Cambridge Bancorp from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a report on Wednesday. Five analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $78.30.
Cambridge Bancorp (NASDAQ:CATC) last announced its earnings results on Monday, July 19th. The bank reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.18. Cambridge Bancorp had a return on equity of 14.00% and a net margin of 29.51%.
Several large investors have recently bought and sold shares of CATC. Bank of New York Mellon Corp increased its holdings in shares of Cambridge Bancorp by 11.7% in the fourth quarter. Bank of New York Mellon Corp now owns 37,498 shares of the bank’s stock valued at $2,615,000 after purchasing an additional 3,915 shares during the last quarter. Rhumbline Advisers grew its position in Cambridge Bancorp by 14.8% in the fourth quarter. Rhumbline Advisers now owns 8,927 shares of the bank’s stock worth $623,000 after acquiring an additional 1,152 shares during the period. Citigroup Inc. grew its position in Cambridge Bancorp by 288.9% in the fourth quarter. Citigroup Inc. now owns 1,194 shares of the bank’s stock worth $83,000 after acquiring an additional 887 shares during the period. The Manufacturers Life Insurance Company grew its position in Cambridge Bancorp by 5.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 215,094 shares of the bank’s stock worth $15,003,000 after acquiring an additional 11,717 shares during the period. Finally, Schroder Investment Management Group grew its position in Cambridge Bancorp by 6.5% in the fourth quarter. Schroder Investment Management Group now owns 114,630 shares of the bank’s stock worth $7,995,000 after acquiring an additional 6,980 shares during the period. 51.29% of the stock is owned by hedge funds and other institutional investors.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 19th. Investors of record on Thursday, August 5th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Wednesday, August 4th. This represents a $2.44 annualized dividend and a dividend yield of 2.87%. Cambridge Bancorp’s dividend payout ratio is presently 35.36%.
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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