Camden National Co. (NASDAQ:CAC) Director Purchases $11,287.44 in Stock

Camden National Co. (NASDAQ:CAC) Director Craig N. Denekas bought 244 shares of the firm’s stock in a transaction that occurred on Friday, June 18th. The shares were purchased at an average cost of $46.26 per share, with a total value of $11,287.44. Following the purchase, the director now directly owns 5,796 shares of the company’s stock, valued at $268,122.96. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

NASDAQ:CAC opened at $47.99 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.80 and a quick ratio of 0.79. Camden National Co. has a 1-year low of $28.32 and a 1-year high of $49.65. The firm has a market cap of $717.07 million, a price-to-earnings ratio of 10.98 and a beta of 1.00. The company has a fifty day moving average of $47.37.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Monday, April 26th. The financial services provider reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.30. Camden National had a return on equity of 12.63% and a net margin of 31.81%. The business had revenue of $47.58 million during the quarter, compared to analyst estimates of $45.83 million. On average, analysts anticipate that Camden National Co. will post 4.54 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 30th. Investors of record on Thursday, April 15th were given a $0.36 dividend. This is a positive change from Camden National’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, April 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.00%. Camden National’s dividend payout ratio (DPR) is 36.46%.

Several brokerages recently weighed in on CAC. Zacks Investment Research raised Camden National from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Thursday, April 29th. Stephens began coverage on Camden National in a research note on Monday. They set an “overweight” rating and a $54.00 target price for the company. Finally, Raymond James raised their target price on Camden National from $45.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, April 28th.

Several large investors have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. purchased a new stake in Camden National in the 4th quarter worth about $210,000. Credit Suisse AG lifted its stake in Camden National by 29.1% in the 4th quarter. Credit Suisse AG now owns 18,919 shares of the financial services provider’s stock worth $678,000 after acquiring an additional 4,269 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Camden National by 34.2% in the 4th quarter. JPMorgan Chase & Co. now owns 156,685 shares of the financial services provider’s stock worth $5,606,000 after acquiring an additional 39,924 shares in the last quarter. Rhumbline Advisers lifted its stake in Camden National by 11.3% in the 4th quarter. Rhumbline Advisers now owns 25,697 shares of the financial services provider’s stock worth $919,000 after acquiring an additional 2,611 shares in the last quarter. Finally, Arizona State Retirement System purchased a new stake in Camden National in the 1st quarter worth about $208,000. Institutional investors and hedge funds own 66.46% of the company’s stock.

Camden National Company Profile

Camden National Corporation operates as the bank holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit, and commercial customers. The company accepts checking, savings, time, and brokered deposits, as well as certificates of deposit.

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