Camden National Co. (CAC) Expected to Announce Earnings of $0.69 Per Share

Equities research analysts predict that Camden National Co. (NASDAQ:CAC) will report earnings of $0.69 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Camden National’s earnings. Camden National reported earnings of $0.70 per share during the same quarter last year, which would indicate a negative year over year growth rate of 1.4%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, January 30th.

According to Zacks, analysts expect that Camden National will report full year earnings of $2.68 per share for the current fiscal year. For the next financial year, analysts forecast that the company will report earnings of $2.85 per share. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover Camden National.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.03. Camden National had a return on equity of 10.56% and a net margin of 24.70%.

CAC has been the subject of several analyst reports. Keefe, Bruyette & Woods cut Camden National from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 1st. BidaskClub cut Camden National from a “buy” rating to a “hold” rating in a report on Thursday, November 9th.

Shares of Camden National (CAC) traded down $0.40 during mid-day trading on Monday, hitting $42.27. The stock had a trading volume of 30,221 shares, compared to its average volume of 29,890. The firm has a market cap of $662.07, a PE ratio of 15.54 and a beta of 0.79. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.17. Camden National has a fifty-two week low of $37.10 and a fifty-two week high of $47.41.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Monday, January 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, January 11th. This is a boost from Camden National’s previous quarterly dividend of $0.23. Camden National’s payout ratio is 36.76%.

In related news, EVP Edmund M. Hayden sold 2,340 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $45.56, for a total value of $106,610.40. Following the completion of the transaction, the executive vice president now owns 7,958 shares of the company’s stock, valued at approximately $362,566.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joanne T. Campbell sold 2,271 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $44.05, for a total value of $100,037.55. Following the completion of the transaction, the executive vice president now directly owns 17,916 shares of the company’s stock, valued at approximately $789,199.80. The disclosure for this sale can be found here. Insiders own 2.34% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its holdings in Camden National by 9.0% in the 2nd quarter. Sterling Capital Management LLC now owns 24,503 shares of the financial services provider’s stock worth $1,051,000 after purchasing an additional 2,015 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Camden National by 7.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 201,522 shares of the financial services provider’s stock worth $8,647,000 after purchasing an additional 13,265 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Camden National in the 2nd quarter worth about $464,000. OxFORD Asset Management LLP raised its holdings in Camden National by 22.6% in the 3rd quarter. OxFORD Asset Management LLP now owns 18,859 shares of the financial services provider’s stock worth $834,000 after purchasing an additional 3,474 shares during the period. Finally, Parametric Portfolio Associates LLC raised its holdings in Camden National by 12.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 48,966 shares of the financial services provider’s stock worth $2,101,000 after purchasing an additional 5,461 shares during the period. 63.46% of the stock is owned by institutional investors.

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About Camden National

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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