Camden National (NASDAQ:CAC) Downgraded by StockNews.com to Sell

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

Camden National Stock Performance

Shares of NASDAQ:CAC opened at $30.06 on Friday. The firm has a market cap of $439.75 million, a PE ratio of 10.12 and a beta of 0.74. The firm’s 50 day simple moving average is $31.65 and its 200-day simple moving average is $33.04. 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 has a one year low of $26.52 and a one year high of $39.70.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The company had revenue of $65.78 million for the quarter, compared to analyst estimates of $42.75 million. Camden National had a net margin of 16.86% and a return on equity of 10.90%. During the same period last year, the company posted $1.05 earnings per share. As a group, equities analysts predict that Camden National will post 3.08 EPS for the current year.

Camden National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.59%. The ex-dividend date is Friday, April 12th. Camden National’s payout ratio is 56.57%.

Hedge Funds Weigh In On Camden National

Several institutional investors have recently bought and sold shares of the business. Raymond James & Associates grew its stake in Camden National by 5.9% during the 1st quarter. Raymond James & Associates now owns 45,879 shares of the financial services provider’s stock worth $2,158,000 after buying an additional 2,567 shares during the last quarter. American Century Companies Inc. boosted its holdings in Camden National by 20.4% in the first quarter. American Century Companies Inc. now owns 18,475 shares of the financial services provider’s stock worth $869,000 after acquiring an additional 3,130 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Camden National by 1.8% in the first quarter. HighTower Advisors LLC now owns 17,250 shares of the financial services provider’s stock worth $812,000 after acquiring an additional 300 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Camden National by 20.9% in the first quarter. MetLife Investment Management LLC now owns 7,289 shares of the financial services provider’s stock worth $343,000 after acquiring an additional 1,258 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in Camden National by 1.6% in the first quarter. BlackRock Inc. now owns 1,207,144 shares of the financial services provider’s stock worth $56,784,000 after acquiring an additional 18,448 shares in the last quarter. 77.41% of the stock is owned by hedge funds and other institutional investors.

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.