Camden National (NASDAQ:CAC) Rating 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 published on Friday.

Camden National Stock Performance

NASDAQ CAC opened at $30.06 on Friday. The stock’s fifty day moving average is $31.65 and its two-hundred day moving average is $33.04. The firm has a market capitalization of $439.75 million, a P/E ratio of 10.12 and a beta of 0.74. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 0.81. 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 released its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. The company had revenue of $65.78 million for the quarter, compared to analyst estimates of $42.75 million. Camden National had a return on equity of 10.90% and a net margin of 16.86%. During the same quarter in the previous year, the company posted $1.05 earnings per share. On average, research analysts anticipate that Camden National will post 3.08 earnings per share for the current year.

Camden National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be given a $0.42 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.68 dividend on an annualized basis and a yield of 5.59%. Camden National’s dividend payout ratio is currently 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 the business. BlackRock Inc. raised its position in Camden National by 7.6% in the second quarter. BlackRock Inc. now owns 1,377,143 shares of the financial services provider’s stock valued at $42,650,000 after purchasing an additional 96,967 shares during the period. FMR LLC raised its holdings in shares of Camden National by 6.0% in the 3rd quarter. FMR LLC now owns 1,302,357 shares of the financial services provider’s stock valued at $36,753,000 after buying an additional 73,600 shares during the period. Franklin Resources Inc. raised its holdings in shares of Camden National by 12.3% in the 4th quarter. Franklin Resources Inc. now owns 1,236,840 shares of the financial services provider’s stock valued at $46,542,000 after buying an additional 135,944 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Camden National by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 781,241 shares of the financial services provider’s stock valued at $28,272,000 after buying an additional 2,403 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Camden National by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 765,478 shares of the financial services provider’s stock valued at $28,805,000 after buying an additional 18,460 shares during the period. Hedge funds and other institutional investors own 77.41% of the company’s stock.

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.