Camden National (NASDAQ:CAC) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of Camden National (NASDAQ:CAC) from a hold rating to a sell rating in a report published on Friday.

Camden National Stock Up 0.1 %

NASDAQ:CAC opened at $32.32 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $472.20 million, a price-to-earnings ratio of 10.74 and a beta of 0.74. The business’s fifty day moving average price is $31.53 and its 200 day moving average price is $33.69. Camden National has a 1-year low of $26.52 and a 1-year high of $39.70.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.14. The company had revenue of $41.60 million during the quarter, compared to analysts’ expectations of $41.72 million. Camden National had a return on equity of 10.66% and a net margin of 16.56%. On average, sell-side analysts forecast that Camden National will post 3.04 earnings per share for the current fiscal year.

Camden National Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.68 annualized dividend and a yield of 5.20%. Camden National’s dividend payout ratio is 55.81%.

Hedge Funds Weigh In On Camden National

A number of large investors have recently made changes to their positions in CAC. Swiss National Bank grew its position in Camden National by 1.9% during the third quarter. Swiss National Bank now owns 32,061 shares of the financial services provider’s stock worth $905,000 after buying an additional 600 shares in the last quarter. Signaturefd LLC grew its position in Camden National by 147.1% during the fourth quarter. Signaturefd LLC now owns 1,248 shares of the financial services provider’s stock worth $47,000 after buying an additional 743 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Camden National by 201.7% during the third quarter. PNC Financial Services Group Inc. now owns 1,243 shares of the financial services provider’s stock worth $35,000 after buying an additional 831 shares in the last quarter. Hanson & Doremus Investment Management acquired a new stake in Camden National during the first quarter worth approximately $35,000. Finally, Assenagon Asset Management S.A. grew its position in Camden National by 10.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 15,249 shares of the financial services provider’s stock worth $574,000 after buying an additional 1,456 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.