Analysts Expect Camden National Corporation (CAC) Will Post Earnings of $0.69 Per Share
Equities research analysts predict that Camden National Corporation (NASDAQ:CAC) will post earnings of $0.69 per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Camden National Corporation’s earnings. Camden National Corporation reported earnings of $0.70 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.4%. The business is scheduled to issue its next earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Camden National Corporation will report full-year earnings of $2.66 per share for the current financial year. For the next year, analysts forecast that the firm will post earnings of $2.85 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Camden National Corporation.
Camden National Corporation (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by $0.01. The firm had revenue of $38.51 million for the quarter. Camden National Corporation had a return on equity of 10.59% and a net margin of 24.65%.
Several brokerages recently commented on CAC. BidaskClub downgraded shares of Camden National Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $48.00 price target on shares of Camden National Corporation in a report on Friday, June 2nd.
Institutional investors have recently modified their holdings of the company. Teachers Advisors LLC increased its position in shares of Camden National Corporation by 54.0% in the fourth quarter. Teachers Advisors LLC now owns 29,561 shares of the financial services provider’s stock worth $1,314,000 after buying an additional 10,370 shares in the last quarter. LSV Asset Management increased its position in shares of Camden National Corporation by 54.4% in the first quarter. LSV Asset Management now owns 464,709 shares of the financial services provider’s stock worth $20,465,000 after buying an additional 163,761 shares in the last quarter. Davis R M Inc. increased its position in shares of Camden National Corporation by 5.3% in the first quarter. Davis R M Inc. now owns 6,012 shares of the financial services provider’s stock worth $265,000 after buying an additional 300 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Camden National Corporation by 25.9% in the first quarter. Bank of New York Mellon Corp now owns 280,590 shares of the financial services provider’s stock worth $12,357,000 after buying an additional 57,697 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in shares of Camden National Corporation during the first quarter worth approximately $210,000. Institutional investors and hedge funds own 64.72% of the company’s stock.
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Shares of Camden National Corporation (CAC) opened at 39.12 on Tuesday. The firm has a 50 day moving average price of $40.99 and a 200-day moving average price of $41.94. The company has a market cap of $606.83 million, a price-to-earnings ratio of 14.55 and a beta of 0.78. Camden National Corporation has a 52-week low of $29.49 and a 52-week high of $45.43.
The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Monday, July 17th were paid a $0.23 dividend. The ex-dividend date was Thursday, July 13th. This represents a $0.92 dividend on an annualized basis and a yield of 2.35%. Camden National Corporation’s dividend payout ratio is currently 34.07%.
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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