Cambridge Bancorp (NASDAQ:CATC – Get 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
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.
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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