Camden National Co. (NASDAQ:CAC) Director Robert D. Merrill Sells 500 Shares

Camden National Co. (NASDAQ:CAC) Director Robert D. Merrill sold 500 shares of the stock in a transaction on 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 owns 9,615 shares of the company’s stock, valued at $422,483.10. The trade was a 4.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Camden National Stock Performance

CAC traded up $0.53 during trading hours on Thursday, hitting $46.33. 18,597 shares of the stock were exchanged, compared to its average volume of 81,120. The stock has a market cap of $675.28 million, a price-to-earnings ratio of 12.79 and a beta of 0.77. The stock has a 50-day simple moving average of $44.31 and a 200-day simple moving average of $42.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. Camden National Co. has a 12 month low of $28.62 and a 12 month high of $50.07.

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

Camden National Dividend Announcement

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

Institutional Trading of Camden National

Several institutional investors and hedge funds have recently bought and sold shares of CAC. Charles Schwab Investment Management Inc. grew its holdings in shares of Camden National by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 118,716 shares of the financial services provider’s stock valued at $5,074,000 after buying an additional 721 shares in the last quarter. US Bancorp DE grew its stake in shares of Camden National by 2.8% in the 4th quarter. US Bancorp DE now owns 11,474 shares of the financial services provider’s stock valued at $490,000 after buying an additional 308 shares in the last quarter. Bryn Mawr Capital Management LLC acquired a new position in Camden National during the fourth quarter valued at approximately $247,000. Bank of New York Mellon Corp grew its stake in shares of Camden National by 1.7% in the fourth quarter. Bank of New York Mellon Corp now owns 88,236 shares of the financial services provider’s stock worth $3,771,000 after acquiring an additional 1,515 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Camden National by 1.8% during the 4th quarter. Rhumbline Advisers now owns 23,204 shares of the financial services provider’s stock valued at $992,000 after purchasing an additional 415 shares during the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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