Here is the rundown on market activity for Camden National Corporation (NASDAQ:CAC). Renee Smyth, EVP reported the sale of 300 shares. The shares were purchased at an average price of $40.73. Smyth now owns $105,002 of the stock according to the SEC filing. EVP June B. Parent sold 1,000 shares at an average price of $40.76 on Thu the 18th. The EVP now owns $1,100,112 of the stock as reported to the SEC.
Timothy P. Nightingale, EVP purchased $4,895 worth of shares at an average price of $41.48 on Tue the 28th. That brings Nightingale’s holdings to $1,675,866 as recorded in a recent Form 4 SEC filing.
Camden National Corporation, launched on March 21, 1984, 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. The Company, through the Bank, offers commercial and consumer banking products and services, and through Camden Financial Consultants and Camden National Wealth Management, divisions of the Bank, brokerage and insurance services, as well as investment management and fiduciary services. The Company had 61 banking centers, 84 automated teller machines (ATMs) and three lending offices as of December 31, 2016. The Company operates and manages the Bank’s business within Maine’s various regions, including Mid Coast, Southern, Central, Bangor and Downeast..
Here are a few additional firms who have increased or decreased their stake in (CAC). As of the end of the quarter Hm Payson & Co had sold 3,375 shares trimming its position 7.9%. The value in dollars went from $1,902,000 to $1,736,000 a change of 8.7% quarter to quarter. As of quarter end Tower Research Capital LLC (trc) had acquired a total of 30 shares growing its holdings by 8.8%. The value of the company’s investment in Camden National Corporation increased from $15,000 to $16,000 a change of $1,000 since the last quarter.
Goldman Sachs Group Inc reduced its holdings by shedding 5,870 shares a decrease of 40.7% as of 03/31/2017. Goldman Sachs Group Inc now controls 8,553 shares worth $377,000. The value of the position overall is down by 41.2%. Kimelman & Baird, LLC trimmed its investment by selling 1,165 shares a decrease of 0.6% from 12/31/2016 to 03/31/2017. Kimelman & Baird, LLC owns 205,574 shares with a value of $9,053,000. The total value of its holdings decreased 1.5%.
On October 3 Keefe Bruyette & Woods held the company rating at “Outperform” and lowered the price target to $35.00 from $47.00. December 4 investment analysts at Piper Jaffray kept the company rating at “Overweight” but raised the price expectation from $52.00 to $54.00.
On September 14 analysts at Keefe Bruyette & Woods starting coverage on CAC setting a rating of “Outperform” and price target of $47.00.
The company is now up from yesterday’s close of $41.71. The company also declared a dividend paid on Friday the 28th of April 2017. The dividend payment was $0.230 per share for the quarter or $0.92 on an annualized basis. This dividend amount was represent a yeild of $2.27. The ex-dividend date was set for Tuesday the 11th of April 2017.
Shares of the company are trading at $43.20 a tad above $42.20, the 50 day moving average and just a bit higher than the 200 day moving average of $42.24. The 50 day moving average was up $1.00 whereas the 200 day moving average was up $0.96 or +2.27%.
The P/E ratio is 16.30 and the market value is 670.12M. As of the last earnings report the EPS was $2.65 and is expected to be $2.72 for the current year with 15,512,000 shares presently outstanding. Next quarter’s EPS is expected be $0.70 and the next full year EPS is anticipated to be $2.95.
Investors are feeling more bearish on shares of the company of late if you consider the motion in short interest. The stock saw a rise in short interest from May 15, 2017 to April 28, 2017 of 1.45%. Short shares grew from 680,575 to 690,452 over that timeframe. Days to cover increased from 12.4 to 21.9 and the percentage of shorted shares was 0.04% on April 28.