Camden National (NASDAQ:CAC) Announces Earnings Results, Meets Estimates

Camden National (NASDAQ:CACGet Free Report) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85, MarketWatch Earnings reports. Camden National had a return on equity of 11.80% and a net margin of 20.05%. The company had revenue of $65.78 million for the quarter, compared to the consensus estimate of $42.75 million. During the same quarter in the previous year, the business earned $1.05 EPS.

Camden National Stock Down 1.3 %

CAC stock opened at $37.13 on Wednesday. Camden National has a fifty-two week low of $26.52 and a fifty-two week high of $42.95. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.80 and a current ratio of 0.81. The business’s 50 day moving average price is $36.64 and its two-hundred day moving average price is $33.31. The company has a market capitalization of $540.61 million, a price-to-earnings ratio of 10.79 and a beta of 0.81.

Camden National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Monday, January 15th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.52%. Camden National’s dividend payout ratio (DPR) is 48.84%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CAC. StockNews.com upgraded Camden National from a “sell” rating to a “hold” rating in a report on Monday. TheStreet upgraded Camden National from a “c+” rating to a “b” rating in a report on Wednesday, December 13th.

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Institutional Investors Weigh In On Camden National

Several large investors have recently made changes to their positions in CAC. Legal & General Group Plc grew its position in Camden National by 4.1% in the second quarter. Legal & General Group Plc now owns 6,159 shares of the financial services provider’s stock worth $272,000 after acquiring an additional 241 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Camden National by 2.5% during the fourth quarter. Alliancebernstein L.P. now owns 12,066 shares of the financial services provider’s stock valued at $503,000 after buying an additional 300 shares during the period. HighTower Advisors LLC boosted its position in shares of Camden National by 1.8% during the first quarter. HighTower Advisors LLC now owns 17,250 shares of the financial services provider’s stock valued at $812,000 after buying an additional 300 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of Camden National by 36.0% during the first quarter. Great West Life Assurance Co. Can now owns 1,493 shares of the financial services provider’s stock valued at $74,000 after buying an additional 395 shares during the period. Finally, Credit Suisse AG boosted its position in shares of Camden National by 2.6% during the second quarter. Credit Suisse AG now owns 19,657 shares of the financial services provider’s stock valued at $609,000 after buying an additional 494 shares during the period. 69.57% of the stock is owned by institutional investors.

About Camden National

(Get Free Report)

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.

Further Reading

Earnings History for Camden National (NASDAQ:CAC)

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