Camden National (CAC) Lifted to Sell at BidaskClub

BidaskClub upgraded shares of Camden National (NASDAQ:CAC) from a strong sell rating to a sell rating in a report issued on Monday.

CAC has been the topic of a number of other research reports. Keefe, Bruyette & Woods lowered shares of Camden National from an outperform rating to a market perform rating in a research note on Wednesday, November 1st. Piper Jaffray Companies upped their price target on shares of Camden National from $50.50 to $51.00 and gave the company an overweight rating in a research note on Friday, February 2nd.

Camden National (CAC) opened at $41.91 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.79 and a current ratio of 0.79. Camden National has a 52 week low of $37.10 and a 52 week high of $47.41. The stock has a market cap of $662.13, a P/E ratio of 15.62 and a beta of 0.80.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. Camden National had a net margin of 16.30% and a return on equity of 10.52%. The business had revenue of $39.50 million for the quarter. equities research analysts expect that Camden National will post 3.42 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Monday, January 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.39%. This is a positive change from Camden National’s previous quarterly dividend of $0.23. Camden National’s dividend payout ratio is presently 54.95%.

In other news, EVP Joanne T. Campbell sold 2,271 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $44.05, for a total value of $100,037.55. Following the sale, the executive vice president now owns 17,916 shares in the company, valued at $789,199.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edmund M. Hayden sold 2,340 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $45.56, for a total transaction of $106,610.40. Following the completion of the sale, the executive vice president now owns 7,958 shares in the company, valued at approximately $362,566.48. The disclosure for this sale can be found here. 2.34% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in shares of Camden National by 9.2% in the fourth quarter. Wells Fargo & Company MN now owns 51,390 shares of the financial services provider’s stock worth $2,165,000 after acquiring an additional 4,348 shares during the period. Putnam FL Investment Management Co. acquired a new stake in Camden National during the fourth quarter valued at $399,000. Teacher Retirement System of Texas acquired a new stake in Camden National during the fourth quarter valued at $225,000. Monarch Partners Asset Management LLC grew its position in Camden National by 14.9% during the fourth quarter. Monarch Partners Asset Management LLC now owns 15,260 shares of the financial services provider’s stock valued at $643,000 after buying an additional 1,980 shares during the period. Finally, Bowling Portfolio Management LLC grew its position in Camden National by 118.9% during the fourth quarter. Bowling Portfolio Management LLC now owns 37,860 shares of the financial services provider’s stock valued at $1,595,000 after buying an additional 20,564 shares during the period. Hedge funds and other institutional investors own 63.54% of the company’s stock.

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Camden National Company Profile

Camden National Corporation is a bank holding company. The Company is a diversified financial services provider. The primary business of the Company and its subsidiary, Camden National Bank (the Bank), is to attract deposits from, and to extend loans to, consumer, institutional, municipal, non-profit and commercial customers.

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