ValuEngine upgraded shares of Camden National (NASDAQ:CAC) from a sell rating to a hold rating in a research note released on Monday morning.
A number of other research firms have also weighed in on CAC. Zacks Investment Research raised Camden National from a hold rating to a strong-buy rating and set a $47.00 target price for the company in a research note on Friday, February 1st. BidaskClub lowered Camden National from a buy rating to a hold rating in a research note on Wednesday, November 28th.
CAC stock traded down $0.07 during mid-day trading on Monday, hitting $42.31. 376 shares of the stock were exchanged, compared to its average volume of 28,460. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.17. Camden National has a 12 month low of $33.49 and a 12 month high of $47.86. The firm has a market cap of $657.05 million, a P/E ratio of 12.48 and a beta of 0.79.
Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, January 29th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.05. Camden National had a return on equity of 12.93% and a net margin of 28.00%. The firm had revenue of $41.07 million during the quarter, compared to analyst estimates of $40.30 million. As a group, research analysts expect that Camden National will post 3.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 31st. Stockholders of record on Tuesday, January 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Monday, January 14th. Camden National’s dividend payout ratio (DPR) is presently 35.40%.
In other Camden National news, EVP Joanne T. Campbell sold 2,923 shares of the company’s stock in a transaction that occurred on Monday, December 10th. The stock was sold at an average price of $36.27, for a total transaction of $106,017.21. Following the completion of the transaction, the executive vice president now owns 20,914 shares of the company’s stock, valued at approximately $758,550.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carl John Soderberg purchased 3,000 shares of the stock in a transaction on Tuesday, December 11th. The shares were acquired at an average cost of $36.71 per share, with a total value of $110,130.00. Following the transaction, the director now directly owns 64,393 shares in the company, valued at $2,363,867.03. The disclosure for this purchase can be found here. Insiders own 2.02% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Walthausen & Co. LLC purchased a new stake in shares of Camden National in the 3rd quarter worth approximately $6,684,000. BlackRock Inc. grew its stake in shares of Camden National by 4.3% in the 2nd quarter. BlackRock Inc. now owns 1,125,346 shares of the financial services provider’s stock worth $51,438,000 after buying an additional 46,401 shares during the last quarter. Royce & Associates LP grew its stake in shares of Camden National by 7.5% in the 3rd quarter. Royce & Associates LP now owns 563,070 shares of the financial services provider’s stock worth $24,460,000 after buying an additional 39,420 shares during the last quarter. Eagle Asset Management Inc. grew its stake in shares of Camden National by 46.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 84,687 shares of the financial services provider’s stock worth $3,678,000 after buying an additional 26,706 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Camden National by 3.2% in the 3rd quarter. Renaissance Technologies LLC now owns 461,949 shares of the financial services provider’s stock worth $20,067,000 after buying an additional 14,500 shares during the last quarter. 65.66% of the stock is owned by institutional investors and hedge funds.
Camden National Company Profile
Camden National Corporation operates as the holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit, and commercial customers. It offers various deposit products, including demand, checking, saving, and money market accounts; and time deposits.
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