Camden National (NASDAQ:CAC) Issues Earnings Results

Camden National (NASDAQ:CAC) announced its quarterly earnings results on Tuesday. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.01, Zacks reports. Camden National had a net margin of 16.24% and a return on equity of 10.76%.

Camden National Trading Up 3.8%

NASDAQ:CAC opened at $47.28 on Tuesday. The stock has a market cap of $799.99 million, a price-to-earnings ratio of 13.47 and a beta of 0.65. Camden National has a one year low of $34.53 and a one year high of $48.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50-day simple moving average is $43.69 and its 200 day simple moving average is $40.78.

Camden National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 15th will be paid a $0.42 dividend. The ex-dividend date is Thursday, January 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.6%. Camden National’s dividend payout ratio (DPR) is 47.86%.

Analysts Set New Price Targets

Several research firms have weighed in on CAC. Keefe, Bruyette & Woods raised their price target on Camden National from $44.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Camden National in a research note on Monday, December 29th. Janney Montgomery Scott upgraded shares of Camden National to a “hold” rating in a report on Wednesday, October 22nd. Finally, National Bankshares set a $45.00 price objective on shares of Camden National in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.75.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Russell Investments Group Ltd. increased its position in Camden National by 13,790.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 1,379 shares during the period. Advisory Services Network LLC bought a new position in Camden National in the 3rd quarter valued at about $58,000. Aquatic Capital Management LLC increased its stake in Camden National by 33.5% during the 3rd quarter. Aquatic Capital Management LLC now owns 3,153 shares of the financial services provider’s stock valued at $122,000 after buying an additional 791 shares during the period. Quantbot Technologies LP raised its position in shares of Camden National by 45.7% during the 2nd quarter. Quantbot Technologies LP now owns 3,167 shares of the financial services provider’s stock worth $129,000 after buying an additional 993 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Camden National in the 2nd quarter worth approximately $136,000. 77.41% of the stock is currently owned by institutional investors.

About Camden National

Camden National Corporation is a bank holding company headquartered in Camden, Maine. Through its primary subsidiary, Camden National Bank, the company provides a full range of community banking services to individuals and businesses. Its branch network spans much of the State of Maine, with a concentration in the midcoast, central and southern regions.

The company’s offerings include deposit products such as checking, savings and money market accounts, along with consumer and commercial lending services.