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

StockNews.com downgraded shares of Camden National (NASDAQ:CAC) from a hold rating to a sell rating in a research report sent to investors on Friday.

Camden National Price Performance

CAC stock opened at $30.31 on Friday. The firm has a market cap of $443.44 million, a P/E ratio of 10.21 and a beta of 0.74. The firm’s fifty day moving average is $31.59 and its 200 day moving average is $33.13. Camden National has a 52 week low of $26.52 and a 52 week high of $39.70. 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 (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. The business had revenue of $65.78 million for the quarter, compared to analysts’ expectations of $42.75 million. Camden National had a return on equity of 10.90% and a net margin of 16.86%. During the same period in the previous year, the firm earned $1.05 EPS. Research analysts predict that Camden National will post 3.08 earnings per share for the current year.

Camden National Dividend Announcement

The business 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 $0.42 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.68 annualized dividend and a yield of 5.54%. Camden National’s dividend payout ratio (DPR) is presently 56.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in Camden National by 12.3% during 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 acquiring an additional 135,944 shares during the period. Trexquant Investment LP bought a new position in shares of Camden National during the fourth quarter valued at approximately $294,000. Quadrant Capital Group LLC lifted its holdings in shares of Camden National by 364.7% during the fourth quarter. Quadrant Capital Group LLC now owns 4,545 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 3,567 shares during the last quarter. Lmcg Investments LLC bought a new stake in shares of Camden National in the 4th quarter worth approximately $288,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Camden National by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 775,647 shares of the financial services provider’s stock worth $29,189,000 after buying an additional 8,046 shares during the last quarter. 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.