Cambridge Bancorp (NASDAQ:CATC) Announces Quarterly Dividend of $0.67

Cambridge Bancorp (NASDAQ:CATCGet Free Report) declared a quarterly dividend on Monday, January 29th, investing.com reports. Investors of record on Thursday, February 8th will be given a dividend of 0.67 per share by the bank on Thursday, February 22nd. This represents a $2.68 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Wednesday, February 7th.

Cambridge Bancorp has raised its dividend payment by an average of 8.1% annually over the last three years and has raised its dividend annually for the last 25 consecutive years. Cambridge Bancorp has a payout ratio of 42.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cambridge Bancorp to earn $3.71 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 72.2%.

Cambridge Bancorp Stock Performance

NASDAQ:CATC opened at $72.80 on Wednesday. The company has a market capitalization of $571.48 million, a price-to-earnings ratio of 15.29 and a beta of 0.55. Cambridge Bancorp has a one year low of $44.62 and a one year high of $85.07. The stock has a 50-day simple moving average of $66.80 and a 200 day simple moving average of $60.69.

Institutional Trading of Cambridge Bancorp

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Cambridge Bancorp by 16.0% during the 2nd quarter. BlackRock Inc. now owns 617,636 shares of the bank’s stock worth $33,544,000 after acquiring an additional 84,986 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Cambridge Bancorp by 12.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 360,230 shares of the bank’s stock worth $30,620,000 after acquiring an additional 39,717 shares during the period. Vanguard Group Inc. grew its holdings in Cambridge Bancorp by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 335,840 shares of the bank’s stock worth $26,781,000 after acquiring an additional 7,168 shares during the period. Wellington Management Group LLP grew its holdings in Cambridge Bancorp by 89.0% during the 1st quarter. Wellington Management Group LLP now owns 209,099 shares of the bank’s stock worth $13,552,000 after acquiring an additional 98,480 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Cambridge Bancorp by 50.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 168,756 shares of the bank’s stock worth $10,937,000 after acquiring an additional 56,508 shares during the period. Institutional investors and hedge funds own 56.69% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upgraded Cambridge Bancorp from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $56.00 to $79.30 in a research note on Thursday, October 5th.

Read Our Latest Research Report on CATC

Cambridge Bancorp Company Profile

(Get Free Report)

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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Dividend History for Cambridge Bancorp (NASDAQ:CATC)

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