BidaskClub downgraded shares of Camden National Corporation (NASDAQ:CAC) from a buy rating to a hold rating in a research report sent to investors on Thursday.
Separately, Keefe, Bruyette & Woods downgraded Camden National Corporation from an outperform rating to a market perform rating in a research note on Wednesday, November 1st.
Shares of Camden National Corporation (NASDAQ CAC) traded down $0.06 during midday trading on Thursday, reaching $41.73. The company’s stock had a trading volume of 14,100 shares, compared to its average volume of 32,686. Camden National Corporation has a fifty-two week low of $35.04 and a fifty-two week high of $45.43. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.17. The company has a market cap of $647.56, a P/E ratio of 15.34 and a beta of 0.78.
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The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 13th were paid a $0.23 dividend. The ex-dividend date was Thursday, October 12th. This represents a $0.92 annualized dividend and a yield of 2.20%. Camden National Corporation’s dividend payout ratio is currently 33.82%.
In related news, Director Carl John Soderberg bought 3,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was acquired at an average price of $38.46 per share, for a total transaction of $115,380.00. Following the purchase, the director now directly owns 59,323 shares in the company, valued at $2,281,562.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Holmes purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were acquired at an average price of $38.57 per share, with a total value of $38,570.00. Following the transaction, the director now owns 18,356 shares in the company, valued at approximately $707,990.92. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 5,000 shares of company stock valued at $192,900. 2.34% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its position in shares of Camden National Corporation by 479.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,340 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 1,936 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Camden National Corporation during the 1st quarter valued at about $124,000. Atlantic Trust LLC bought a new stake in shares of Camden National Corporation during the 2nd quarter valued at about $136,000. Legal & General Group Plc boosted its position in shares of Camden National Corporation by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 3,817 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 153 shares during the last quarter. Finally, Citigroup Inc. boosted its position in shares of Camden National Corporation by 696.7% during the 2nd quarter. Citigroup Inc. now owns 4,772 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 4,173 shares during the last quarter. Hedge funds and other institutional investors own 64.83% of the company’s stock.
About Camden National Corporation
Camden National Corporation is a bank holding company. The Company is a diversified financial services provider. The primary business of the Company and its subsidiary, Camden National Bank (the Bank), is to attract deposits from, and to extend loans to, consumer, institutional, municipal, non-profit and commercial customers.
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