Camden National (CAC) Upgraded at BidaskClub

BidaskClub upgraded shares of Camden National (NASDAQ:CAC) from a buy rating to a strong-buy rating in a research report released on Friday, BidAskClub reports.

Several other equities research analysts have also issued reports on CAC. Zacks Investment Research raised Camden National from a hold rating to a strong-buy rating and set a $47.00 price objective for the company in a research note on Friday, February 1st. ValuEngine raised Camden National from a sell rating to a hold rating in a research note on Monday, February 4th.

NASDAQ:CAC opened at $45.75 on Friday. The firm has a market cap of $714.16 million, a P/E ratio of 13.50 and a beta of 0.80. Camden National has a 52-week low of $33.49 and a 52-week high of $47.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.81 and a quick ratio of 0.81.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.12. The company had revenue of $41.28 million during the quarter, compared to analyst estimates of $40.30 million. Camden National had a return on equity of 12.98% and a net margin of 27.70%. Equities research analysts anticipate that Camden National will post 3.75 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Friday, April 12th. Camden National’s dividend payout ratio (DPR) is currently 35.40%.

In other Camden National news, CEO Gregory A. Dufour sold 1,250 shares of Camden National stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $43.50, for a total transaction of $54,375.00. Following the completion of the sale, the chief executive officer now owns 88,675 shares of the company’s stock, valued at $3,857,362.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Deborah A. Jordan purchased 867 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $32.73 per share, with a total value of $28,376.91. Following the purchase, the chief financial officer now owns 55,500 shares of the company’s stock, valued at $1,816,515. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 2,715 shares of company stock valued at $88,862. Corporate insiders own 2.04% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. FMR LLC increased its holdings in shares of Camden National by 3.5% in the fourth quarter. FMR LLC now owns 1,398,724 shares of the financial services provider’s stock worth $50,312,000 after buying an additional 47,691 shares during the period. BlackRock Inc. increased its holdings in shares of Camden National by 0.5% in the first quarter. BlackRock Inc. now owns 1,178,453 shares of the financial services provider’s stock worth $49,166,000 after buying an additional 6,393 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Camden National by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 818,248 shares of the financial services provider’s stock worth $34,138,000 after buying an additional 11,215 shares during the period. Vanguard Group Inc increased its holdings in shares of Camden National by 0.7% in the third quarter. Vanguard Group Inc now owns 695,987 shares of the financial services provider’s stock worth $30,234,000 after buying an additional 4,849 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Camden National by 0.7% in the third quarter. Vanguard Group Inc. now owns 695,987 shares of the financial services provider’s stock worth $30,234,000 after buying an additional 4,849 shares during the period. 67.51% of the stock is owned by hedge funds and other institutional investors.

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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