Several other equities analysts have also recently commented on the stock. Raymond James assumed coverage on shares of Camden National in a research report on Tuesday, November 26th. They set a market perform rating on the stock. Janney Montgomery Scott assumed coverage on shares of Camden National in a research report on Tuesday, January 7th. They set a neutral rating and a $48.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company has a consensus rating of Hold and a consensus target price of $50.00.
Shares of Camden National stock opened at $47.05 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $46.59 and a two-hundred day moving average price of $44.35. Camden National has a 1-year low of $38.68 and a 1-year high of $48.48. The company has a market cap of $718.32 million, a P/E ratio of 12.75 and a beta of 0.79.
Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.10. The company had revenue of $44.19 million during the quarter, compared to the consensus estimate of $42.16 million. Camden National had a return on equity of 12.35% and a net margin of 27.16%. Equities research analysts forecast that Camden National will post 3.46 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Tuesday, January 14th. This is a boost from Camden National’s previous quarterly dividend of $0.30. Camden National’s payout ratio is 35.77%.
In related news, EVP Joanne T. Campbell sold 4,222 shares of Camden National stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.98, for a total value of $202,571.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.04% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in CAC. Royce & Associates LP grew its position in shares of Camden National by 2.5% during the 4th quarter. Royce & Associates LP now owns 507,914 shares of the financial services provider’s stock valued at $23,395,000 after purchasing an additional 12,625 shares in the last quarter. State Street Corp grew its position in shares of Camden National by 2.8% during the 4th quarter. State Street Corp now owns 320,064 shares of the financial services provider’s stock valued at $14,742,000 after purchasing an additional 8,768 shares in the last quarter. BRYN MAWR TRUST Co grew its position in shares of Camden National by 0.4% during the 3rd quarter. BRYN MAWR TRUST Co now owns 205,598 shares of the financial services provider’s stock valued at $8,906,000 after purchasing an additional 788 shares in the last quarter. Boston Trust Walden Corp grew its position in shares of Camden National by 1.7% during the 4th quarter. Boston Trust Walden Corp now owns 182,507 shares of the financial services provider’s stock valued at $8,406,000 after purchasing an additional 3,066 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Camden National by 7.6% during the 4th quarter. Bank of New York Mellon Corp now owns 177,678 shares of the financial services provider’s stock valued at $8,184,000 after purchasing an additional 12,519 shares in the last quarter. Institutional investors and hedge funds own 68.21% of the company’s stock.
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, as well as certificates of deposit.
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