Camden National (NASDAQ:CAC) Stock Crosses Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Camden National Corporation's stock price has recently fallen below its 200-day moving average of $39.63, trading at $36.46.
• The company has declared a $0.42 quarterly dividend, with a yield of 4.6%, payable on October 31st to shareholders of record as of October 15th.
• Several analysts have rated Camden National as a "hold," with a consensus price target of $48.00, though one analyst upgraded it from "equal weight" to "overweight" with a revised target of $44.00.

Camden National Corporation (NASDAQ:CAC - Get Free Report)'s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $39.63 and traded as low as $36.40. Camden National shares last traded at $36.46, with a volume of 166,654 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CAC shares. Weiss Ratings restated a "hold (c+)" rating on shares of Camden National in a research report on Saturday, September 27th. Zacks Research upgraded Camden National to a "hold" rating in a research report on Tuesday, August 12th. Finally, Stephens upgraded Camden National from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $49.00 to $44.00 in a report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $48.00.

Camden National Trading Down 2.9%

The company has a fifty day simple moving average of $39.31 and a two-hundred day simple moving average of $39.63. The stock has a market capitalization of $616.90 million, a P/E ratio of 11.54 and a beta of 0.64. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CAC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.23). Camden National had a net margin of 14.77% and a return on equity of 10.19%. The firm had revenue of $69.82 million during the quarter, compared to analyst estimates of $61.04 million. On average, sell-side analysts expect that Camden National Corporation will post 4.25 earnings per share for the current year.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $1.68 annualized dividend and a dividend yield of 4.6%. Camden National's dividend payout ratio (DPR) is currently 53.16%.

Institutional Trading of Camden National

Several hedge funds and other institutional investors have recently modified their holdings of CAC. Franklin Resources Inc. raised its stake in shares of Camden National by 10.3% in the 2nd quarter. Franklin Resources Inc. now owns 1,446,179 shares of the financial services provider's stock valued at $58,686,000 after purchasing an additional 134,653 shares during the period. Vanguard Group Inc. increased its position in shares of Camden National by 9.7% in the first quarter. Vanguard Group Inc. now owns 874,341 shares of the financial services provider's stock valued at $35,385,000 after acquiring an additional 77,106 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Camden National in the third quarter valued at about $2,897,000. Wellington Management Group LLP acquired a new stake in shares of Camden National in the first quarter valued at about $2,160,000. Finally, Nuveen LLC acquired a new stake in shares of Camden National in the first quarter valued at about $1,643,000. Institutional investors and hedge funds own 77.41% of the company's stock.

Camden National Company Profile

Camden National Corporation operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers in Maine, New Hampshire, and Massachusetts. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system.

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