Camden National (NASDAQ:CAC) Share Price Passes Below Two Hundred Day Moving Average of $45.79

Camden National Co. (NASDAQ:CACGet Rating)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $45.79 and traded as low as $45.07. Camden National shares last traded at $45.21, with a volume of 33,450 shares.

Analyst Upgrades and Downgrades

Separately, Stephens lowered shares of Camden National from an “overweight” rating to an “equal weight” rating and set a $48.00 price target on the stock. in a report on Thursday, August 4th.

Camden National Stock Down 1.8 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.76 and a quick ratio of 0.76. The firm’s fifty day moving average price is $45.77 and its two-hundred day moving average price is $45.74. The stock has a market cap of $644.82 million, a price-to-earnings ratio of 10.42 and a beta of 0.78.

Camden National (NASDAQ:CACGet Rating) last posted its earnings results on Tuesday, July 26th. The financial services provider reported $1.02 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.03). The business had revenue of $47.68 million for the quarter, compared to the consensus estimate of $47.20 million. Camden National had a return on equity of 12.51% and a net margin of 31.49%. During the same period in the previous year, the firm earned $1.21 earnings per share. Sell-side analysts forecast that Camden National Co. will post 4.31 earnings per share for the current fiscal year.

Camden National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 15th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Thursday, July 14th. Camden National’s payout ratio is 37.83%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CAC. Bank of America Corp DE grew its position in shares of Camden National by 21.7% during the 4th quarter. Bank of America Corp DE now owns 41,863 shares of the financial services provider’s stock valued at $2,017,000 after acquiring an additional 7,463 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of Camden National by 55.9% during the 4th quarter. BNP Paribas Arbitrage SA now owns 6,480 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 2,323 shares during the period. Principal Financial Group Inc. bought a new position in shares of Camden National during the 4th quarter valued at approximately $607,000. JPMorgan Chase & Co. grew its position in shares of Camden National by 6.1% during the 4th quarter. JPMorgan Chase & Co. now owns 177,622 shares of the financial services provider’s stock valued at $8,554,000 after acquiring an additional 10,233 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Camden National by 8.9% during the 4th quarter. Renaissance Technologies LLC now owns 369,300 shares of the financial services provider’s stock valued at $17,785,000 after acquiring an additional 30,200 shares during the period. 67.96% of the stock is owned by institutional investors.

Camden National Company Profile

(Get Rating)

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. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system.

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