Cambridge Bancorp (NASDAQ:CATC) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its position in shares of Cambridge Bancorp (NASDAQ:CATC) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,836 shares of the bank’s stock after selling 2,963 shares during the period. ProShare Advisors LLC owned approximately 1.53% of Cambridge Bancorp worth $8,168,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CATC. Citigroup Inc. raised its stake in shares of Cambridge Bancorp by 103.6% in the third quarter. Citigroup Inc. now owns 6,982 shares of the bank’s stock valued at $435,000 after acquiring an additional 3,553 shares in the last quarter. Vanguard Group Inc. raised its stake in Cambridge Bancorp by 0.9% in the third quarter. Vanguard Group Inc. now owns 401,393 shares of the bank’s stock valued at $25,003,000 after buying an additional 3,389 shares in the last quarter. SG Americas Securities LLC raised its stake in Cambridge Bancorp by 22.4% in the fourth quarter. SG Americas Securities LLC now owns 4,380 shares of the bank’s stock valued at $304,000 after buying an additional 803 shares in the last quarter. Crestwood Advisors Group LLC raised its stake in Cambridge Bancorp by 4.3% in the fourth quarter. Crestwood Advisors Group LLC now owns 7,001 shares of the bank’s stock valued at $486,000 after buying an additional 290 shares in the last quarter. Finally, New York Life Investment Management LLC acquired a new stake in Cambridge Bancorp in the fourth quarter valued at $1,255,000. 55.53% of the stock is currently owned by institutional investors and hedge funds.

Cambridge Bancorp Price Performance

Cambridge Bancorp stock remained flat at $73.59 during midday trading on Wednesday. Cambridge Bancorp has a 1-year low of $48.37 and a 1-year high of $75.62. The stock has a market capitalization of $577.68 million, a P/E ratio of 20.27 and a beta of 0.65. The stock’s fifty day simple moving average is $67.25 and its two-hundred day simple moving average is $66.16.

Cambridge Bancorp (NASDAQ:CATC) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.03). Cambridge Bancorp had a net margin of 10.11% and a return on equity of 6.67%. The business had revenue of $37.46 million during the quarter, compared to analyst estimates of $38.00 million. On average, sell-side analysts expect that Cambridge Bancorp will post 4.33 EPS for the current fiscal year.

Cambridge Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Wednesday, May 8th. Cambridge Bancorp’s payout ratio is 73.83%.

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.