Welcome to our dedicated page for Cambridge Bancorp news (Ticker: CATC), a resource for investors and traders seeking the latest updates and insights on Cambridge Bancorp stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Cambridge Bancorp's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Cambridge Bancorp's position in the market.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Cambridge Bancorp (NASDAQ: CATC) reported a net income of $12.4 million for Q1 2023, reflecting a 9.7% increase from Q4 2022. Diluted EPS rose to $1.58, up 9.7%. However, operating net income fell 15.4% to $12.7 million compared to the previous quarter. The bank's non-performing loans stand at 0.18% of total loans, maintaining strong asset quality. Total assets decreased slightly by 0.6% to $5.53 billion. Total deposits dropped by 3.3% to $4.66 billion, with significant outflows attributed to clients seeking higher yields. The bank declared a dividend of $0.67 per share, payable May 25, 2023. The effective tax rate was 25.1%.
Cambridge Bancorp (NASDAQ: CATC) will announce its first quarter 2023 financial results on April 25, 2023, before market opening. A conference call will follow at 11:00 am EST on the same day, which will be available via webcast. The company, based in Cambridge, Massachusetts, operates Cambridge Trust Company, with assets totaling approximately $5.6 billion as of December 31, 2022. It also boasts $4.1 billion in managed client assets in wealth management, reflecting its strong position in the private banking sector of New England. Interested participants can pre-register for the call or listen live online.
FAQ
What is the current stock price of Cambridge Bancorp (CATC)?
What is the market cap of Cambridge Bancorp (CATC)?
