Camden National Co. (NASDAQ:CAC) Director Sells $21,970.00 in Stock

Camden National Co. (NASDAQ:CAC) Director Robert D. Merrill sold 500 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $43.94, for a total value of $21,970.00. Following the completion of the transaction, the director now directly owns 9,615 shares of the company’s stock, valued at approximately $422,483.10. This trade represents a 4.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Camden National Trading Up 1.1 %

Shares of CAC traded up $0.53 during midday trading on Thursday, hitting $46.33. The stock had a trading volume of 18,597 shares, compared to its average volume of 81,120. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $675.28 million, a PE ratio of 12.79 and a beta of 0.77. The stock’s 50 day moving average is $44.31 and its 200 day moving average is $42.12. Camden National Co. has a 1 year low of $28.62 and a 1 year high of $50.07.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same period last year, the firm earned $0.85 earnings per share. As a group, analysts forecast that Camden National Co. will post 4.16 EPS for the current fiscal year.

Camden National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Wednesday, January 15th. Camden National’s payout ratio is currently 46.41%.

Institutional Investors Weigh In On Camden National

Several hedge funds have recently added to or reduced their stakes in CAC. JPMorgan Chase & Co. raised its holdings in Camden National by 53.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock worth $11,731,000 after purchasing an additional 99,097 shares during the period. Barclays PLC lifted its holdings in shares of Camden National by 38.9% in the 3rd quarter. Barclays PLC now owns 48,339 shares of the financial services provider’s stock worth $1,998,000 after acquiring an additional 13,542 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Camden National in the 3rd quarter valued at approximately $659,000. Creative Planning raised its position in Camden National by 65.3% in the third quarter. Creative Planning now owns 34,590 shares of the financial services provider’s stock valued at $1,429,000 after purchasing an additional 13,663 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Camden National by 1.2% during the third quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock worth $14,236,000 after purchasing an additional 4,067 shares in the last quarter. 77.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CAC shares. Keefe, Bruyette & Woods raised their price objective on shares of Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, January 29th. StockNews.com began coverage on Camden National in a research note on Tuesday. They issued a “hold” rating for the company. Finally, Raymond James reissued an “outperform” rating and issued a $53.00 target price (up previously from $50.00) on shares of Camden National in a report on Wednesday, January 29th.

Camden National Company Profile

Camden National Corporation operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers in Maine, New Hampshire, and Massachusetts. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system.