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

Camden National Co. (NASDAQ:CAC) Director Robert D. Merrill sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were 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 directly owns 9,615 shares of the company’s stock, valued at $422,483.10. This represents a 4.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Camden National Trading Down 2.8 %

NASDAQ:CAC opened at $45.21 on Friday. Camden National Co. has a 52 week low of $28.62 and a 52 week high of $50.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s fifty day moving average is $44.29 and its 200-day moving average is $42.15. The firm has a market cap of $659.16 million, a P/E ratio of 12.49 and a beta of 0.77.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 prior year, the company posted $0.85 earnings per share. Equities analysts expect 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. Shareholders of record on Wednesday, January 15th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.72%. The ex-dividend date was Wednesday, January 15th. Camden National’s dividend payout ratio (DPR) is currently 46.41%.

Institutional Trading of Camden National

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in Camden National in the second quarter valued at approximately $73,000. Nisa Investment Advisors LLC lifted its holdings in shares of Camden National by 18,500.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 1,850 shares in the last quarter. AlphaQuest LLC grew its position in Camden National by 2,615.3% in the 4th quarter. AlphaQuest LLC now owns 4,263 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 4,106 shares during the period. Raymond James Financial Inc. bought a new stake in Camden National during the 4th quarter valued at $210,000. Finally, Bryn Mawr Capital Management LLC acquired a new position in Camden National during the fourth quarter worth $247,000. 77.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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