Cambridge Bancorp (NASDAQ:CATC) Rating Lowered to Neutral at Piper Sandler

Cambridge Bancorp (NASDAQ:CATC) was downgraded by research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued to investors on Wednesday, The Fly reports. They currently have a price target on the bank’s stock. Piper Sandler also issued estimates for Cambridge Bancorp’s FY2020 earnings at $6.08 EPS and FY2021 earnings at $6.80 EPS.

Separately, Keefe, Bruyette & Woods raised shares of Cambridge Bancorp from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $85.00 to $87.00 in a research report on Tuesday, December 10th.

Shares of NASDAQ:CATC traded down $1.01 during mid-day trading on Wednesday, hitting $74.87. 737 shares of the company traded hands, compared to its average volume of 8,477. The firm’s 50 day simple moving average is $77.51 and its 200 day simple moving average is $77.30. The firm has a market cap of $364.80 million, a P/E ratio of 13.93 and a beta of 0.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.89 and a current ratio of 0.89. Cambridge Bancorp has a 52-week low of $71.24 and a 52-week high of $86.20.

Cambridge Bancorp (NASDAQ:CATC) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.04. Cambridge Bancorp had a return on equity of 13.32% and a net margin of 19.03%. The firm had revenue of $31.54 million during the quarter. Equities research analysts expect that Cambridge Bancorp will post 6.25 EPS for the current fiscal year.

In other Cambridge Bancorp news, Director Robert Gregg Stone III bought 1,000 shares of the stock in a transaction dated Tuesday, December 10th. The stock was bought at an average cost of $75.01 per share, for a total transaction of $75,010.00. 2.34% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in CATC. Nisa Investment Advisors LLC boosted its holdings in Cambridge Bancorp by 120.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 330 shares of the bank’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Metropolitan Life Insurance Co NY raised its position in shares of Cambridge Bancorp by 53.8% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 1,521 shares of the bank’s stock valued at $114,000 after purchasing an additional 532 shares in the last quarter. State Street Corp raised its position in shares of Cambridge Bancorp by 4.0% in the 3rd quarter. State Street Corp now owns 70,652 shares of the bank’s stock valued at $5,300,000 after purchasing an additional 2,706 shares in the last quarter. Putnam FL Investment Management Co. boosted its stake in shares of Cambridge Bancorp by 24.6% during the 3rd quarter. Putnam FL Investment Management Co. now owns 27,992 shares of the bank’s stock valued at $2,100,000 after buying an additional 5,523 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Cambridge Bancorp by 50.2% during the 3rd quarter. First Trust Advisors LP now owns 10,014 shares of the bank’s stock valued at $751,000 after buying an additional 3,345 shares during the last quarter. Institutional investors and hedge funds own 35.72% of the company’s stock.

Cambridge Bancorp Company 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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