|Over a month ago|
Camden National upgraded on Maine bounce-back at Raymond James » 07:4401/2701/27/21
Raymond James analyst…
Raymond James analyst William Wallace upgraded Camden National to Outperform from Market Perform with a $45 price target following the company's Q4 results. The analyst is "now constructive" on the shares with Camden's credit outlook "clearing." This suggests the tourism-reliant Maine economy could bounce back better than expected as COVID vaccines become more widely distributed, Wallace tells investors in a research note. He believes the stock's valuation "screens very attractively at current discounted levels."
Camden National upgraded to Outperform from Market Perform at Raymond James » 06:2901/2701/27/21
Raymond James analyst…
Raymond James analyst William Wallace upgraded Camden National to Outperform from Market Perform.
Camden National reports Q4 EPS $1.22, consensus 93c » 08:3401/2601/26/21
Reports Q4 book value per…
Reports Q4 book value per share $35.50, compared to $34.69 in the previous quarter. "We have a lot to be proud about at Camden National this year," said Gregory A. Dufour, President and CEO. "2020 was a year unlike any other with so many personal and professional challenges, as the COVID-19 health crisis disrupted the lives of the people and businesses across all communities we serve. Despite these challenges, we were able to support our employees, as well as provide outstanding service to our customers and communities in their time of need through various offerings, including our Employee Assistance Program, SBA Paycheck Protection Program, short-term loan deferrals, and continued generous donations to our communities."
|Over a quarter ago|
Camden National reports Q3 EPS $1.11, consensus 81c » 08:3310/2710/27/20
Reports Q3 tangible book…
Reports Q3 tangible book value per share $28.14 from $27.31 in the previous quarter. "This quarter's results demonstrate that our core business is solid and resilient. Our strong earnings for the quarter reflect the collective efforts and tireless work across our Company as we continue to focus on our customers' needs while maintaining our strategic focus," said Gregory A. Dufour, President and CEO. "Although the last six months have presented unprecedented economic conditions, we took the necessary actions early to preserve the strength of our balance sheet by increasing loan loss reserves over $11M year-to-date. At the end of the Q3, our allowance for losses was 1.11% of total loans and 1.19% of total loans when excluding SBA PPP loans1 originated this year, up from 0.81% at the beginning of the year."
Camden National promotes Timothy Nightingale to Chief Credit Officer » 16:3208/1808/18/20
Camden National Bank…
Camden National Bank announced that effective September 1, Timothy Nightingale will become executive VP, Chief Credit Officer, and Ryan Smith will be promoted from senior VP, Director of Credit Administration to executive VP, Commercial Banking. Nightingale joined Camden National Bank more than 20 years ago and most recently served as executive VP, Senior Loan Officer. Smith joined the bank in 2012 and has since been promoted to leadership roles in commercial banking, treasury management, and credit administration, culminating in his new position on the executive team.
Camden National reports Q2 EPS 73c, consensus 73c » 08:3307/2807/28/20
Reports Q2 …
Reports Q2 non-performing assets were 0.23% of total assets at June 30 compared to 0.23% and 0.25% at March 31 and December 31, 2019, respectively. "Over the past several months, we have navigated new economic and social challenges as a result of the COVID-19 pandemic," said Gregory A. Dufour, President and CEO. "The health and financial well-being of our customers, employees, and communities has been top of mind and a significant factor in the decisions made to date. We recognize these are trying times for many, and we continue to diligently support our constituents, which included providing over 2,900 Paycheck Protection Program loans to small businesses and over 2,000 temporary loan payment deferrals to business and retail customers through June 30."
Fly Insider: Aecom ,Virtu among week's notable insider trades » 12:5905/1805/18/20
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Camden National reports Q1 EPS 89c, consensus 69c » 08:3404/2804/28/20
Reports Q1 provision for…
Reports Q1 provision for loan losses $1.77M and Net charge-offs $422,000. The company reports a strong asset quality as of March 31, however, Q1 provision for credit losses increased $1.0M over the Q1 of FY19 and $1.6M over the Q4 of FY19 due to the COVID-19 pandemic. "These are unprecedented times - in just a few weeks, our focus shifted from working towards our long-term operational and financial goals to one that is focused on the next several quarters," said the Company. "We entered this uncertain social and economic period in a strong financial position, which we fortified during the first quarter by adding about $1.4M to our allowance for loan losses."