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 business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $43.94, for a total transaction of $21,970.00. Following the sale, the director now directly owns 9,615 shares of the company’s stock, valued at approximately $422,483.10. The trade was a 4.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Camden National Trading Up 1.6 %

Shares of Camden National stock opened at $46.52 on Friday. The company has a market capitalization of $678.26 million, a P/E ratio of 12.85 and a beta of 0.77. 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 company has a fifty day moving average of $44.31 and a 200 day moving average of $42.12. Camden National Co. has a fifty-two week low of $28.62 and a fifty-two week high of $50.07.

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

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Wednesday, January 15th. Camden National’s dividend payout ratio (DPR) is presently 46.41%.

Analyst Upgrades and Downgrades

CAC has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Camden National in a research report on Tuesday. They set a “hold” rating for the company. Raymond James reissued an “outperform” rating and set a $53.00 price objective (up previously from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Camden National by 53.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock valued at $11,731,000 after purchasing an additional 99,097 shares during the last quarter. Barclays PLC raised its position in shares of Camden National by 38.9% during the 3rd quarter. Barclays PLC now owns 48,339 shares of the financial services provider’s stock valued at $1,998,000 after buying an additional 13,542 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Camden National during the 3rd quarter valued at about $659,000. Creative Planning raised its position in shares of Camden National by 65.3% during the 3rd quarter. Creative Planning now owns 34,590 shares of the financial services provider’s stock valued at $1,429,000 after buying an additional 13,663 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Camden National by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock valued at $14,236,000 after buying an additional 4,067 shares in the last quarter. 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.