Penobscot Investment Management Company Inc. purchased a new position in Cambridge Bancorp (NASDAQ:CATC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,728 shares of the bank’s stock, valued at approximately $385,000.

A number of other hedge funds also recently made changes to their positions in CATC. Northern Trust Corp raised its position in shares of Cambridge Bancorp by 0.6% during the 4th quarter. Northern Trust Corp now owns 40,367 shares of the bank’s stock valued at $3,361,000 after buying an additional 236 shares in the last quarter. Martingale Asset Management L P raised its position in shares of Cambridge Bancorp by 6.2% during the 1st quarter. Martingale Asset Management L P now owns 6,801 shares of the bank’s stock valued at $564,000 after buying an additional 400 shares in the last quarter. Amica Retiree Medical Trust raised its position in shares of Cambridge Bancorp by 10.5% during the 1st quarter. Amica Retiree Medical Trust now owns 6,209 shares of the bank’s stock valued at $514,000 after buying an additional 591 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Cambridge Bancorp by 768.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 782 shares of the bank’s stock valued at $65,000 after buying an additional 692 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Cambridge Bancorp by 183.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 1,189 shares of the bank’s stock valued at $99,000 after buying an additional 770 shares in the last quarter. Institutional investors and hedge funds own 38.73% of the company’s stock.

Several analysts have recently issued reports on CATC shares. Sandler O’Neill started coverage on shares of Cambridge Bancorp in a research report on Thursday, May 2nd. They set a “buy” rating and a $93.00 target price on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Cambridge Bancorp in a report on Monday, July 22nd. They set a “market perform” rating and a $90.00 price target on the stock.

NASDAQ:CATC traded down $1.11 during mid-day trading on Friday, hitting $74.89. 8,300 shares of the stock traded hands, compared to its average volume of 6,277. The stock has a market capitalization of $350.15 million, a price-to-earnings ratio of 12.19 and a beta of 0.11. Cambridge Bancorp has a 52 week low of $71.24 and a 52 week high of $92.89. The firm’s 50 day moving average is $78.60 and its two-hundred day moving average is $80.91. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 0.01.

Cambridge Bancorp (NASDAQ:CATC) last issued its quarterly earnings results on Tuesday, July 16th. The bank reported $1.47 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.10). The firm had revenue of $27.92 million for the quarter. Cambridge Bancorp had a net margin of 19.92% and a return on equity of 13.72%.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $2.04 annualized dividend and a yield of 2.72%.

Cambridge Bancorp 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, individual retirement accounts, and time and demand deposits.

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Institutional Ownership by Quarter for Cambridge Bancorp (NASDAQ:CATC)

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