Camden National Corporation (CAC) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS
Camden National Corporation (NASDAQ:CAC) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.04, reports. Camden National Corporation had a net margin of 24.65% and a return on equity of 10.59%.
Camden National Corporation (NASDAQ CAC) traded up 0.23% during trading on Tuesday, reaching $43.17. 38,125 shares of the company were exchanged. The firm’s 50 day moving average price is $42.85 and its 200-day moving average price is $41.86. The stock has a market capitalization of $669.65 million, a price-to-earnings ratio of 16.05 and a beta of 0.82. Camden National Corporation has a one year low of $32.50 and a one year high of $45.43.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Thursday, October 12th. Camden National Corporation’s payout ratio is presently 34.07%.
In other news, Director Carl John Soderberg acquired 3,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were acquired at an average cost of $38.46 per share, for a total transaction of $115,380.00. Following the purchase, the director now owns 59,323 shares of the company’s stock, valued at approximately $2,281,562.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Holmes acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average price of $38.57 per share, for a total transaction of $38,570.00. Following the completion of the purchase, the director now directly owns 18,356 shares in the company, valued at approximately $707,990.92. The disclosure for this purchase can be found here. Insiders purchased a total of 5,000 shares of company stock worth $192,900 over the last 90 days. 2.34% of the stock is currently owned by company insiders.
Separately, BidaskClub raised shares of Camden National Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, September 21st.
Camden National Corporation Company Profile
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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