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CAMDEN, Maine—Maxwell Raina, a director at Camden National Corp (NASDAQ:CAC), recently purchased 102.6 shares of the company’s common stock. The shares were acquired at a price of $40.09 per share, amounting to a total transaction value of $4,113. The purchase price sits slightly above the current trading price of $39.63, with InvestingPro data showing the stock trades at a P/E ratio of 12.7 and offers a 4.2% dividend yield, supported by 29 consecutive years of dividend payments. Following this acquisition, Raina’s total direct ownership in the company stands at 562.6 shares. This transaction was reported in a Form 4 filing with the Securities and Exchange Commission, reflecting Raina’s ongoing investment in the financial services provider. The $666 million market cap company maintains a "Fair" financial health score according to InvestingPro analysis, with analysts setting price targets ranging from $44 to $53.
In other recent news, Camden National Corporation reported its Q1 2025 earnings, showing a mixed performance. The company achieved a revenue of $60.05 million, surpassing the forecast of $57.63 million, but its earnings per share (EPS) fell slightly short at $0.95 compared to the expected $0.98. The successful integration of Northway Financial has expanded Camden National’s operations, adding 28,000 new customers and strengthening its presence in Maine and New Hampshire. Analysts from Raymond (NSE:RYMD) James noted the company’s core net interest margin improved, indicating enhanced profitability. Camden National projects low single-digit loan growth and expects fee income to reach between $12.5 million and $13 million. The company also anticipates cost savings from the Northway integration to become evident in Q2 2025, with quarterly expenses forecasted at $34-$35 million. Despite economic uncertainties, CEO Simon Griffiths expressed confidence in Camden National’s ability to deliver consistent results. CFO Mike Archer highlighted the company’s strong fundamentals and the expected acceleration of cost savings in the coming quarters.
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