Camden National (NASDAQ:CAC) Lowered to Sell at StockNews.com

StockNews.com lowered shares of Camden National (NASDAQ:CAC) from a hold rating to a sell rating in a research note released on Friday.

Camden National Price Performance

CAC stock opened at $30.31 on Friday. The business has a 50 day moving average price of $31.59 and a 200 day moving average price of $33.13. 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 has a market cap of $443.44 million, a price-to-earnings ratio of 10.21 and a beta of 0.74. Camden National has a fifty-two week low of $26.52 and a fifty-two week high of $39.70.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $65.78 million during the quarter, compared to the consensus estimate of $42.75 million. Camden National had a net margin of 16.86% and a return on equity of 10.90%. During the same quarter in the previous year, the firm earned $1.05 EPS. Equities research analysts anticipate that Camden National will post 3.08 earnings per share for the current fiscal year.

Camden National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.54%. The ex-dividend date of this dividend is Friday, April 12th. Camden National’s payout ratio is 56.57%.

Institutional Investors Weigh In On Camden National

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAC. PNC Financial Services Group Inc. raised its holdings in shares of Camden National by 201.7% in the third quarter. PNC Financial Services Group Inc. now owns 1,243 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 831 shares during the last quarter. Signaturefd LLC increased its holdings in Camden National by 147.1% in the 4th quarter. Signaturefd LLC now owns 1,248 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 743 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Camden National by 364.7% in the fourth quarter. Quadrant Capital Group LLC now owns 4,545 shares of the financial services provider’s stock worth $171,000 after buying an additional 3,567 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Camden National during the third quarter valued at about $210,000. Finally, First National Corp MA ADV bought a new stake in shares of Camden National in the fourth quarter worth about $265,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.

About Camden National

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.