Cambridge Bancorp (NASDAQ:CATC – Get Free Report) 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 is Wednesday, May 8th.
Cambridge Bancorp has raised its dividend payment by an average of 8.1% annually over the last three years and has increased its dividend annually for the last 25 consecutive years. Cambridge Bancorp has a dividend payout ratio of 41.9% indicating that its dividend is sufficiently covered by earnings.
Cambridge Bancorp Stock Performance
CATC traded down $1.64 during trading on Wednesday, reaching $62.07. The company’s stock had a trading volume of 906 shares, compared to its average volume of 28,148. The company’s fifty day moving average price is $64.27 and its 200-day moving average price is $63.83. Cambridge Bancorp has a 52-week low of $44.62 and a 52-week high of $73.68. The company has a market capitalization of $487.25 million, a price-to-earnings ratio of 14.30 and a beta of 0.58.
Insiders Place Their Bets
In other news, Director Robert Gregg Stone III sold 3,669 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $65.73, for a total value of $241,163.37. Following the sale, the director now directly owns 10,708 shares in the company, valued at $703,836.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.50% of the stock is owned by company insiders.
About Cambridge Bancorp
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.
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