Camden National (NASDAQ:CAC) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Camden National (NASDAQ:CACFree Report) from a hold rating to a sell rating in a report issued on Friday morning.

Camden National Trading Up 4.7 %

Shares of NASDAQ CAC opened at $30.06 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average price is $31.65 and its two-hundred day moving average price is $33.12. Camden National has a 52-week low of $26.52 and a 52-week high of $39.70. The stock has a market capitalization of $439.78 million, a P/E ratio of 10.12 and a beta of 0.74.

Camden National (NASDAQ:CACGet Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. Camden National had a return on equity of 10.90% and a net margin of 16.86%. The business had revenue of $65.78 million for the quarter, compared to analyst estimates of $42.75 million. During the same period in the prior year, the company posted $1.05 EPS. On average, analysts anticipate that Camden National will post 3.08 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.59%. The ex-dividend date is Friday, April 12th. Camden National’s dividend payout ratio (DPR) is 56.57%.

Hedge Funds Weigh In On Camden National

Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc grew its holdings in Camden National by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 6,159 shares of the financial services provider’s stock worth $272,000 after buying an additional 241 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Camden National by 2.5% in the fourth quarter. Alliancebernstein L.P. now owns 12,066 shares of the financial services provider’s stock worth $503,000 after purchasing an additional 300 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Camden National by 1.8% during the first quarter. HighTower Advisors LLC now owns 17,250 shares of the financial services provider’s stock valued at $812,000 after purchasing an additional 300 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of Camden National by 36.0% during the first quarter. Great West Life Assurance Co. Can now owns 1,493 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 395 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Camden National by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,973 shares of the financial services provider’s stock worth $4,176,000 after purchasing an additional 397 shares during the period. Institutional investors and hedge funds own 77.41% of the company’s stock.

Camden National Company Profile

(Get Free Report)

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.

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