Profile
Sector:
Financial ServicesIndustry:
Banks - RegionalCountry:
United StatesIPO:
05 January 1999Website:
http://www.cambridgetrust.comNext earnings report:
N/ALast dividends:
08 May 2024Next dividends:
N/AAnalysts recommendations
Institutional Ownership
Included in screeners
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CATC Latest News
Although the revenue and EPS for Cambridge (CATC) give a sense of how its business performed in the quarter ended December 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Cambridge (CATC) came out with quarterly earnings of $1.11 per share, beating the Zacks Consensus Estimate of $0.92 per share. This compares to earnings of $1.92 per share a year ago.
Cambridge Bancorp is 37% below its all-time high and has a dividend yield above the industry median. The bank's loan portfolio, particularly fixed-rate mortgages, has been negatively impacted by high interest rates and low demand. The securities portfolio has also suffered from investments made before the rate hike, resulting in unrealized losses and a reduction in equity.
Cambridge (CATC) came out with quarterly earnings of $1.15 per share, beating the Zacks Consensus Estimate of $1.06 per share. This compares to earnings of $2.09 per share a year ago.
Cambridge Bancorp is merging with Eastern Bank in an all-stock transaction valued at $528 million -- a roughly 24% premium to Cambridge's 30-day volume-weighted average price. The deal still requires regulatory approval and the approval of both companies' shareholders, but is expected to close in early 2024.
Eastern Bankshares (EBC) signs an agreement to merge with Cambridge Bancorp (CATC). The total deal value is $528 million.
Cambridge (CATC) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Although the revenue and EPS for Cambridge (CATC) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Cambridge (CATC) came out with quarterly earnings of $1.23 per share, beating the Zacks Consensus Estimate of $1.18 per share. This compares to earnings of $1.90 per share a year ago.
Cambridge Bancorp, a small bank with a market capitalization of $431 million, is seen as a decent investment prospect despite shares remaining down about 32% compared to previous levels. The bank's loan portfolio has grown from $3.15 billion in 2020 to $4.06 billion by the end of 2022, with 44% of its loan portfolio in the form of commercial real estate. Despite initial concerns about a large portion of its deposits being uninsured, Cambridge Bancorp has managed to handle current market conditions without taking on a great deal of debt.
What type of business is Cambridge Bancorp?
As of July 12, 2024, Cambridge Bancorp was acquired by Eastern Bankshares, Inc. 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. Its loan products include residential and commercial real estate loans; construction loan; residential mortgages and home equity loans; commercial and industrial loans; consumer loans, such as secured and unsecured loans, lines of credit, and personal installment loans; and construction loans. The company also offers cash management, debit and credit cards, online and mobile banking, and payments services. It serves commercial enterprises, non-profit organizations, and individuals. The company operates through a network of banking and wealth management offices located in Massachusetts and New Hampshire. Cambridge Bancorp was founded in 1890 and is headquartered in Cambridge, Massachusetts.
What sector is Cambridge Bancorp in?
Cambridge Bancorp is in the Financial Services sector
What industry is Cambridge Bancorp in?
Cambridge Bancorp is in the Banks - Regional industry
What country is Cambridge Bancorp from?
Cambridge Bancorp is headquartered in United States
When did Cambridge Bancorp go public?
Cambridge Bancorp initial public offering (IPO) was on 05 January 1999
What is Cambridge Bancorp website?
https://www.cambridgetrust.com
Is Cambridge Bancorp in the S&P 500?
No, Cambridge Bancorp is not included in the S&P 500 index
Is Cambridge Bancorp in the NASDAQ 100?
No, Cambridge Bancorp is not included in the NASDAQ 100 index
Is Cambridge Bancorp in the Dow Jones?
No, Cambridge Bancorp is not included in the Dow Jones index
When was Cambridge Bancorp the previous earnings report?
No data
When does Cambridge Bancorp earnings report?
Next earnings report date is not announced yet