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Cambridge Bancorp Announces First Quarter 2024 Results and Declares Quarterly Dividend
PRNewswire (Tue, 23-Apr 7:00 AM ET)
Cambridge Bancorp Sets First Quarter 2024 Earnings Release Date
PRNewswire (Mon, 8-Apr 7:00 AM ET)
Cambridge Bancorp is a United States-based bank holding company. Its core services include Wealth Management, Commercial Banking, Residential Lending, and Personal Banking. It provides banking services such as deposit accounts, online and mobile banking, business banking, wealth planning and other services. The company's loan portfolio comprises of Residential & commercial mortgages, Home equity, Commercial & Industrial and Consumer.
Cambridge Bancorp trades on the NASDAQ stock market under the symbol CATC.
As of May 21, 2024, CATC stock price climbed to $68.51 with 3,113 million shares trading.
CATC has a beta of 0.50, meaning it tends to be less sensitive to market movements. CATC has a correlation of 0.03 to the broad based SPY ETF.
CATC has a market cap of $537.52 million. This is considered a Small Cap stock.
Last quarter Cambridge Bancorp reported $38 million in Revenue and $1.02 earnings per share. This fell short of revenue expectation by $-412,000 and exceeded earnings estimates by $.01.
In the last 3 years, CATC stock traded as high as $97.57 and as low as $44.62.
The top ETF exchange traded funds that CATC belongs to (by Net Assets): VTI, IWM, SMDV, AVUV, VXF.
CATC has outperformed the market in the last year with a price return of +38.8% while the SPY ETF gained +28.2%. However, in the short term, CATC had mixed performance relative to the market. It has underperformed in the last 3 months, returning +5.2% vs +7.0% return in SPY. But in the last 2 weeks, CATC shares have fared better than the market returning +3.6% compared to SPY +2.6%.
CATC support price is $66.21 and resistance is $69.47 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CATC stock will trade within this expected range on the day.