Camden National Co. (NASDAQ:CAC) Director Robert D. Merrill Sells 500 Shares of Stock

Camden National Co. (NASDAQ:CAC) Director Robert D. Merrill sold 500 shares of Camden National 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 completion of the transaction, the director now owns 9,615 shares in the company, valued at approximately $422,483.10. This represents a 4.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Camden National Stock Up 1.6 %

NASDAQ CAC opened at $46.52 on Friday. The business’s 50-day moving average is $44.31 and its 200 day moving average is $42.12. 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 stock has a market capitalization of $678.26 million, a PE ratio of 12.85 and a beta of 0.77. Camden National Co. has a 1 year low of $28.62 and a 1 year high of $50.07.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.14. Camden National had a return on equity of 10.38% and a net margin of 18.02%. During the same quarter in the previous year, the business posted $0.85 EPS. Sell-side analysts forecast that Camden National Co. will post 4.16 earnings per share for the current year.

Camden National Announces Dividend

The business also recently declared 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 of this dividend was Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.61%. Camden National’s dividend payout ratio is currently 46.41%.

Analyst Ratings Changes

Several research analysts have recently commented on CAC shares. Raymond James reiterated an “outperform” rating and issued a $53.00 price objective (up previously from $50.00) on shares of Camden National in a report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their target price on Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. Finally, StockNews.com started coverage on Camden National in a research note on Tuesday. They issued a “hold” rating on the stock.

Institutional Trading of Camden National

A number of hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in shares of Camden National in the 4th quarter worth approximately $210,000. Charles Schwab Investment Management Inc. raised its stake in Camden National by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 118,716 shares of the financial services provider’s stock valued at $5,074,000 after buying an additional 721 shares during the last quarter. US Bancorp DE raised its stake in Camden National by 2.8% during the 4th quarter. US Bancorp DE now owns 11,474 shares of the financial services provider’s stock valued at $490,000 after buying an additional 308 shares during the last quarter. Bryn Mawr Capital Management LLC purchased a new stake in Camden National during the 4th quarter valued at $247,000. Finally, Bank of New York Mellon Corp raised its stake in Camden National by 1.7% during the 4th quarter. Bank of New York Mellon Corp now owns 88,236 shares of the financial services provider’s stock valued at $3,771,000 after buying an additional 1,515 shares during the last quarter. 77.41% of the stock is owned by institutional investors.

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.