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

Camden National Co. (NASDAQ:CAC - Get Free Report) 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 sale, the director now directly owns 9,615 shares of the company's stock, valued at $422,483.10. This represents a 4.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Camden National Stock Down 0.9 %

NASDAQ:CAC traded down $0.39 on Monday, hitting $44.82. 72,229 shares of the company's stock were exchanged, compared to its average volume of 81,824. 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 50-day moving average price of $44.25 and a 200-day moving average price of $42.25. The company has a market cap of $653.48 million, a P/E ratio of 12.38 and a beta of 0.77. Camden National Co. has a 52 week low of $28.62 and a 52 week high of $50.07.

Camden National (NASDAQ:CAC - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, beating 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 in the previous year, the company earned $0.85 earnings per share. As a group, analysts expect that Camden National Co. will post 4.25 EPS for the current fiscal year.

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Camden National Dividend Announcement

The firm 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. The ex-dividend date was Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.75%. Camden National's payout ratio is 46.41%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bryn Mawr Capital Management LLC bought a new position in shares of Camden National in the fourth quarter valued at about $6,811,000. 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 valued at $11,731,000 after acquiring an additional 99,097 shares during the period. Davis R M Inc. acquired a new stake in Camden National during the fourth quarter worth approximately $4,059,000. Segall Bryant & Hamill LLC bought a new stake in shares of Camden National during the third quarter worth approximately $1,729,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Camden National by 194.1% during the third quarter. Assenagon Asset Management S.A. now owns 33,344 shares of the financial services provider's stock worth $1,378,000 after acquiring an additional 22,007 shares during the period. 77.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on CAC. Keefe, Bruyette & Woods boosted their target price on Camden National from $48.00 to $50.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 29th. 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. Finally, StockNews.com began coverage on Camden National in a research report on Tuesday, February 4th. They set a "hold" rating for the company.

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.