Camden National (CAC) Lowered to Hold at ValuEngine
ValuEngine downgraded shares of Camden National (NASDAQ:CAC) from a buy rating to a hold rating in a report published on Thursday.
A number of other research firms have also issued reports on CAC. BidaskClub lowered shares of Camden National from a buy rating to a hold rating in a research report on Tuesday, December 12th. Keefe, Bruyette & Woods lowered shares of Camden National from an outperform rating to a market perform rating in a research report on Wednesday, November 1st. Finally, Piper Jaffray Companies increased their price target on shares of Camden National from $50.50 to $51.00 and gave the stock an overweight rating in a research report on Friday, February 2nd.
Shares of Camden National (CAC) opened at $41.91 on Thursday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.17. The stock has a market cap of $662.13, a P/E ratio of 23.03 and a beta of 0.80. Camden National has a 52-week low of $37.10 and a 52-week high of $47.41.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Monday, January 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.39%. This is an increase from Camden National’s previous quarterly dividend of $0.23. Camden National’s dividend payout ratio is currently 54.95%.
In related news, EVP Joanne T. Campbell sold 2,271 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $44.05, for a total value of $100,037.55. Following the transaction, the executive vice president now owns 17,916 shares in the company, valued at $789,199.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Edmund M. Hayden sold 2,340 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $45.56, for a total value of $106,610.40. Following the completion of the transaction, the executive vice president now owns 7,958 shares in the company, valued at approximately $362,566.48. The disclosure for this sale can be found here. Corporate insiders own 2.34% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its holdings in Camden National by 9.0% in the second quarter. Sterling Capital Management LLC now owns 24,503 shares of the financial services provider’s stock worth $1,051,000 after buying an additional 2,015 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Camden National by 7.0% in the second quarter. The Manufacturers Life Insurance Company now owns 201,522 shares of the financial services provider’s stock worth $8,647,000 after buying an additional 13,265 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Camden National in the second quarter worth approximately $464,000. OxFORD Asset Management LLP increased its holdings in Camden National by 22.6% in the third quarter. OxFORD Asset Management LLP now owns 18,859 shares of the financial services provider’s stock worth $834,000 after buying an additional 3,474 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in Camden National by 12.6% in the second quarter. Parametric Portfolio Associates LLC now owns 48,966 shares of the financial services provider’s stock worth $2,101,000 after buying an additional 5,461 shares during the last quarter. Hedge funds and other institutional investors own 63.54% of the company’s stock.
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Camden National Company Profile
Camden National Corporation is a bank holding company. The Company is a diversified financial services provider. The primary business of the Company and its subsidiary, Camden National Bank (the Bank), is to attract deposits from, and to extend loans to, consumer, institutional, municipal, non-profit and commercial customers.
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