The Vanguard Group, Inc. recently announced the acquisition of new stake in Cambridge Bancorp (NASDAQ:CATC). The institutional investor has increased its shareholding in the Financial company by 2.22% to 0.33 million shares with purchase of 7168.0 shares. This fresh investment now brings its stake to 4.23% valued currently at $27.38 million. In addition, SSgA Funds Management, Inc. raised its holdings by 1881.0 to 0.14 million shares. And Geode Capital Management LLC has lifted its position by 0.53% or 641.0 shares – to 0.12 million shares.
With over 0.15 million Cambridge Bancorp (CATC) shares trading Tuesday and a closing price of $77.93 on the day, the dollar volume was approximately $11.89 million. The shares have shown a negative half year performance of -5.88% and its price on 01/24/23 lost nearly -6.56%. Currently, there are 7.80M common shares owned by the public and among those 7.46M shares have been available to trade.
Insiders at the company have transacted a total of 49 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 34 of these insider trades were purchases, accounting for 32,233 shares. Insider sales of the common stock occurred on 15 occasions, with total insider shares sold totaling 5,293 shares.
The top 3 mutual fund holders in Cambridge Bancorp are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and John Hancock Regional Bank Fund. Vanguard Total Stock Market Index owns 0.22 million shares of the company’s stock, all valued at over $18.45 million. The company bought an additional 34400.0 shares recently to bring their total holdings to about 2.85% of the shares outstanding. iShares Russell 2000 ETF sold 1708.0 shares to see its total holdings shrink to 0.16 million shares valued at over $13.52 million and representing 2.09% of the shares outstanding. John Hancock Regional Bank Fund bought 2357.0 shares to bring its total holdings to over 0.14 million shares at a value of $11.93 million. John Hancock Regional Bank Fund now owns shares totaling to 1.84% of the shares outstanding.
Shares of Cambridge Bancorp (NASDAQ: CATC) opened at $82.68, down -$0.72 from a prior closing price of $83.40. However, the script later moved the day high at 82.95, down -6.56%. The company’s stock has a 5-day price change of -6.94% and -7.09% over the past three months. CATC shares are trading -6.18% year to date (YTD), with the 12-month market performance down to -15.29% lower. It has a 12-month low price of $77.62 and touched a high of $93.54 over the same period. CATC has an average intraday trading volume of 29.51K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.04%, -9.20%, and -6.55% respectively.
Institutional ownership of Cambridge Bancorp (NASDAQ: CATC) shares accounts for 50.50% of the company’s 7.80M shares outstanding. Mutual fund holders own 26.43%, while other institutional holders and individual stakeholders account for 4.22% and 22.89% respectively.
It has a market capitalization of $603.18M and a beta (3y monthly) value of 0.51. The stock’s trailing 12-month PE ratio is 10.01, while the earnings-per-share (ttm) stands at $7.79. The company has a debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.09% over the week and 2.65% over the month.
Analysts forecast that Cambridge Bancorp (CATC) will achieve an EPS of $2.12 for the current quarter, $2.15 for the next quarter and $9.22 for 2023. The lowest estimate earnings-per-share for the quarter is $2.1 while analysts give the company a high EPS estimate of $2.14. Comparatively, EPS for the current quarter was $1.92 a year ago. Earnings per share for the fiscal year are expected to increase by 52.90%, and 13.15% over the next financial year.
Janney was of a view on October 13, 2021 that the stock is Buy, while Keefe Bruyette gave the stock Outperform rating on July 19, 2021, issuing a price target of $105. DA Davidson on their part issued Buy rating on October 22, 2020.