CAMBRIDGE, Mass. (AP) — Cambridge Bancorp (CATC) on Tuesday reported fourth-quarter earnings of $13 million.
The Cambridge, Massachusetts-based bank said it had earnings of $1.86 per share. Earnings, adjusted for one-time gains and costs, came to $2.05 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.95 per share.
The bank posted revenue of $46.7 million in the period. Its revenue net of interest expense was $44.9 million, which also beat Street forecasts.
For the year, the company reported profit of $32 million, or $5.03 per share. Revenue was reported as $159.8 million.
Cambridge shares have increased 10% since the beginning of the year. The stock has increased 2% in the last 12 months.
—————
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CATC at https://www.zacks.com/ap/CATC
Regulators authorized AstraZeneca’s coronavirus vaccine for use in adults throughout the European Union on Friday, amid criticism the bloc is not moving fast enough to vaccinate its population.
WASHINGTON (AP) — A former FBI lawyer was sentenced to probation for altering an email that the Justice Department relied on during its surveillance of an aide to President Donald Trump during the Russia investigation.
MADISON, Wis. (AP) — Democratic Gov. Tony Evers lashed out Friday at rival Republicans who tried to repeal his statewide mask mandate, saying killing the order would be a ridiculous move comparable to abolishing speed limits.
COLUMBIA, S.C. (AP) — As some conservatives in South Carolina celebrated getting a bill that would ban almost all abortions in the state past a legislative barrier and likely becoming law, they said they are not finished trying to end all abortions.
A Moscow court on Friday put the brother and several allies of Russian opposition leader Alexei Navalny under house arrest for two months as authorities sought to stymie more protests over the jailing of the top Kremlin foe.