Cambridge Bancorp (NASDAQ:CATC) is reporting third quarter earnings results on Tuesday 20th October 2020, before market open.
The consensus estimates from Thomson Reuters are income of $ 1.58 per share.
For the full year, analysts predict revenues of $ 157.02 million, while looking forward to income of $ 6.01 per share.
Previous Quarter Performance
Cambridge Bancorp announced income for the second quarter of $ 1.32 per share, from the revenue of $ 37.76 million. According to street consensus, CATC was expected to report 2Q20 income of $ 0.67 per share from revenue of $ 34.20 million. The bottom line results beat street analysts by $ 0.65 or 97.01 percent, at the same time, top line results outshined analysts by $ 3.56 million or 10.41 percent.
Stock Performance
Shares of Cambridge Bancorp traded low $ -1.69 or -2.74 percent on Monday, reaching $ 60.01 with volume of 7.60 thousand shares. Cambridge Bancorp has traded high as $ 62.00 and has cracked $ 60.01 on the downward trend
According to the previous trading day, closing price of $ 60.01, representing a 39.59 % increase from the 52 week low of $ 44.20 and a 24.76 % decrease over the 52 week high of $ 82.00.
The company has a market capital of $ 415.72 million and is part of the Financial Services sector and Banks – Regional – US industry.
Recent Analyst recommendations
- On 29th September 2020, initiated by Raymond James at Outperform rating, with $ 58.00 target price.
- On 28th September 2020, maintained by Piper Sandler at Overweight rating, with $ 60.00 target price.
- On 27th August 2020, initiated by DA Davidson at Neutral rating, with $ 60.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.53 per share on July 27, 2020. The dividend were payable on August 27, 2020 to holders of record as of the close of business on August 13, 2020 and ex-dividend date on August 12, 2020.
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. Its loan products include residential and commercial real estate loans; home equity lines of credit and term loans; commercial and industrial loans; secured and unsecured loans, lines of credit, and personal installment loans; and construction loans.
