Cambridge Bancorp (NASDAQ:CATC) Expected to Announce Earnings of $1.79 Per Share

Equities analysts predict that Cambridge Bancorp (NASDAQ:CATC) will report earnings per share of $1.79 for the current quarter, according to Zacks. Two analysts have made estimates for Cambridge Bancorp’s earnings. The highest EPS estimate is $1.81 and the lowest is $1.77. Cambridge Bancorp posted earnings of $2.06 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 13.1%. The business is expected to issue its next earnings results on Tuesday, October 19th.

According to Zacks, analysts expect that Cambridge Bancorp will report full-year earnings of $7.40 per share for the current financial year, with EPS estimates ranging from $7.35 to $7.45. For the next fiscal year, analysts anticipate that the company will post earnings of $7.06 per share, with EPS estimates ranging from $6.65 to $7.47. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Cambridge Bancorp.

Cambridge Bancorp (NASDAQ:CATC) last released its quarterly earnings data on Monday, July 19th. The bank reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.18. The business had revenue of $43.29 million during the quarter, compared to analyst estimates of $42.13 million. Cambridge Bancorp had a net margin of 29.51% and a return on equity of 13.84%.

CATC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $93.50 price objective (down from $105.00) on shares of Cambridge Bancorp in a research note on Monday, July 19th. Zacks Investment Research upgraded shares of Cambridge Bancorp from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Wednesday, July 21st. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $82.88.

NASDAQ:CATC opened at $83.00 on Friday. The firm has a market cap of $578.18 million, a P/E ratio of 10.79 and a beta of 0.53. Cambridge Bancorp has a fifty-two week low of $47.75 and a fifty-two week high of $89.50. The firm has a 50-day simple moving average of $84.30 and a two-hundred day simple moving average of $84.44.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 19th. Stockholders of record on Thursday, August 5th were paid a $0.61 dividend. The ex-dividend date of this dividend was Wednesday, August 4th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.94%. Cambridge Bancorp’s dividend payout ratio is presently 35.36%.

Hedge funds have recently made changes to their positions in the company. Invesco Ltd. grew its position in Cambridge Bancorp by 2.4% during the second quarter. Invesco Ltd. now owns 7,482 shares of the bank’s stock valued at $621,000 after buying an additional 177 shares during the period. Morgan Stanley grew its position in Cambridge Bancorp by 1.7% during the second quarter. Morgan Stanley now owns 13,949 shares of the bank’s stock valued at $1,157,000 after buying an additional 230 shares during the period. First Trust Advisors LP grew its position in Cambridge Bancorp by 7.0% during the second quarter. First Trust Advisors LP now owns 3,609 shares of the bank’s stock valued at $300,000 after buying an additional 237 shares during the period. Boit C F David bought a new stake in Cambridge Bancorp during the second quarter valued at approximately $27,000. Finally, Goldman Sachs Group Inc. grew its position in Cambridge Bancorp by 1.9% during the first quarter. Goldman Sachs Group Inc. now owns 20,254 shares of the bank’s stock valued at $1,708,000 after buying an additional 374 shares during the period. Hedge funds and other institutional investors own 51.62% of the company’s stock.

About Cambridge Bancorp

Cambridge Bancorp is a holding company, which engages in the provision of private banking services. It focuses on the wealth management, commercial banking, residential lending, and personal banking services. The company was founded in 1983 and is headquartered in Cambridge, MA.

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Earnings History and Estimates for Cambridge Bancorp (NASDAQ:CATC)

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