Camden National (NASDAQ:CAC) Releases Earnings Results, Beats Estimates By $0.01 EPS

Camden National (NASDAQ:CAC) issued its earnings results on Tuesday. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.01, Zacks reports. Camden National had a net margin of 16.24% and a return on equity of 10.76%.

Camden National Price Performance

Shares of NASDAQ CAC opened at $47.77 on Tuesday. The company has a market capitalization of $808.30 million, a price-to-earnings ratio of 13.61 and a beta of 0.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.81 and a quick ratio of 0.81. Camden National has a 1-year low of $34.53 and a 1-year high of $48.20. The business has a 50-day moving average of $43.69 and a 200-day moving average of $40.78.

Camden National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 15th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.5%. Camden National’s dividend payout ratio is presently 47.86%.

Institutional Trading of Camden National

Several large investors have recently added to or reduced their stakes in CAC. Quantbot Technologies LP boosted its holdings in Camden National by 11.9% during the third quarter. Quantbot Technologies LP now owns 3,545 shares of the financial services provider’s stock valued at $137,000 after acquiring an additional 378 shares during the period. Intech Investment Management LLC grew its holdings in shares of Camden National by 6.1% in the 3rd quarter. Intech Investment Management LLC now owns 7,282 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 421 shares during the last quarter. Creative Planning raised its stake in shares of Camden National by 1.3% in the third quarter. Creative Planning now owns 38,284 shares of the financial services provider’s stock valued at $1,477,000 after acquiring an additional 496 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Camden National by 6.4% in the 2nd quarter. First Trust Advisors LP now owns 11,235 shares of the financial services provider’s stock worth $456,000 after acquiring an additional 678 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its position in Camden National by 4.9% during the 3rd quarter. Raymond James Financial Inc. now owns 15,465 shares of the financial services provider’s stock worth $597,000 after buying an additional 727 shares in the last quarter. 77.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on CAC shares. Janney Montgomery Scott raised shares of Camden National to a “hold” rating in a report on Wednesday, October 22nd. Keefe, Bruyette & Woods lifted their price objective on Camden National from $44.00 to $45.00 and gave the stock a “market perform” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Camden National in a research report on Monday, December 29th. Finally, National Bankshares set a $45.00 price objective on shares of Camden National in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $46.75.

About Camden National

Camden National Corporation is a bank holding company headquartered in Camden, Maine. Through its primary subsidiary, Camden National Bank, the company provides a full range of community banking services to individuals and businesses. Its branch network spans much of the State of Maine, with a concentration in the midcoast, central and southern regions.

The company’s offerings include deposit products such as checking, savings and money market accounts, along with consumer and commercial lending services.