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

Cambridge Bancorp (NASDAQ:CATC) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders of record on Thursday, May 9th will be paid a dividend of 0.67 per share by the bank on Thursday, May 23rd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend is Wednesday, May 8th.

Cambridge Bancorp has increased its dividend by an average of 8.1% annually over the last three years and has raised its dividend every year for the last 25 years. Cambridge Bancorp has a dividend payout ratio of 41.9% meaning its dividend is sufficiently covered by earnings.

Cambridge Bancorp Stock Down 2.6 %

Shares of CATC traded down $1.64 during trading hours on Wednesday, reaching $62.07. 906 shares of the company traded hands, compared to its average volume of 28,148. The company’s fifty day moving average price is $64.27 and its two-hundred day moving average price is $63.83. The company has a market capitalization of $487.25 million, a price-to-earnings ratio of 14.30 and a beta of 0.58. Cambridge Bancorp has a 12 month low of $44.62 and a 12 month high of $73.68.

Cambridge Bancorp (NASDAQ:CATC) last issued its quarterly earnings results on Tuesday, January 30th. The bank reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.19. Cambridge Bancorp had a net margin of 12.25% and a return on equity of 7.59%. The company had revenue of $38.53 million during the quarter, compared to analysts’ expectations of $37.70 million. On average, analysts expect that Cambridge Bancorp will post 4.33 EPS for the current year.

Insider Activity at Cambridge Bancorp

In related news, Director Robert Gregg Stone III sold 3,669 shares of Cambridge Bancorp stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $65.73, for a total transaction of $241,163.37. Following the completion of the transaction, the director now directly owns 10,708 shares of the company’s stock, valued at approximately $703,836.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

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.