Robert D. Merrill Sells 500 Shares of Camden National Co. (NASDAQ:CAC) Stock

Camden National Co. (NASDAQ:CAC) Director Robert D. Merrill sold 500 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $43.94, for a total value of $21,970.00. Following the completion of the sale, the director now directly owns 9,615 shares of the company’s stock, valued at $422,483.10. The trade was a 4.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Camden National Price Performance

Shares of NASDAQ:CAC opened at $45.21 on Friday. Camden National Co. has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. The company’s 50-day moving average is $44.29 and its 200 day moving average is $42.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $659.16 million, a P/E ratio of 12.49 and a beta of 0.77.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same quarter in the prior year, the company posted $0.85 earnings per share. On average, equities research analysts forecast that Camden National Co. will post 4.16 earnings per share for the current year.

Camden National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Wednesday, January 15th. Camden National’s dividend payout ratio (DPR) is 46.41%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CAC shares. Raymond James reiterated an “outperform” rating and issued a $53.00 target price (up previously from $50.00) on shares of Camden National in a research note on Wednesday, January 29th. StockNews.com started coverage on shares of Camden National in a research note on Tuesday. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods upped their target price on Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th.

Institutional Trading of Camden National

Hedge funds have recently made changes to their positions in the company. Davis R M Inc. purchased a new position in Camden National in the 4th quarter valued at approximately $4,059,000. AlphaQuest LLC lifted its position in shares of Camden National by 2,615.3% during the fourth quarter. AlphaQuest LLC now owns 4,263 shares of the financial services provider’s stock worth $182,000 after acquiring an additional 4,106 shares in the last quarter. Camden National Bank boosted its holdings in shares of Camden National by 3.2% in the fourth quarter. Camden National Bank now owns 96,537 shares of the financial services provider’s stock worth $4,126,000 after acquiring an additional 2,955 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Camden National in the fourth quarter valued at $210,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Camden National by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 118,716 shares of the financial services provider’s stock valued at $5,074,000 after purchasing an additional 721 shares during the period. 77.41% of the stock is currently owned by institutional investors.

About Camden National

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.