Camden National (NASDAQ:CAC) Shares Pass Below Two Hundred Day Moving Average of $33.31

Camden National Co. (NASDAQ:CAC) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $33.31 and traded as low as $31.30. Camden National shares last traded at $31.31, with a volume of 31,298 shares.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Camden National from a “sell” rating to a “hold” rating in a report on Saturday, June 1st.

Camden National Stock Up 2.1 %

The firm has a market cap of $470.88 million, a P/E ratio of 10.71 and a beta of 0.75. The stock’s 50 day simple moving average is $31.89 and its 200 day simple moving average is $33.29. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.81.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.14. Camden National had a return on equity of 10.66% and a net margin of 16.56%. The company had revenue of $41.60 million for the quarter, compared to analysts’ expectations of $41.72 million. Research analysts anticipate that Camden National Co. will post 3.13 EPS for the current year.

Camden National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be given a $0.42 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.68 annualized dividend and a yield of 5.21%. Camden National’s dividend payout ratio is currently 55.81%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Camden National by 6.0% in the third quarter. FMR LLC now owns 1,302,357 shares of the financial services provider’s stock worth $36,753,000 after buying an additional 73,600 shares in the last quarter. Franklin Resources Inc. lifted its stake in Camden National by 12.3% in the 4th quarter. Franklin Resources Inc. now owns 1,236,840 shares of the financial services provider’s stock worth $46,542,000 after purchasing an additional 135,944 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Camden National by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 775,647 shares of the financial services provider’s stock valued at $29,189,000 after purchasing an additional 8,046 shares during the period. Vanguard Group Inc. grew its position in shares of Camden National by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 747,018 shares of the financial services provider’s stock valued at $21,081,000 after purchasing an additional 6,807 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Camden National by 13.2% in the first quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock worth $8,027,000 after purchasing an additional 28,007 shares during the period. Institutional investors own 77.41% of the company’s stock.

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.