Camden National Co. (NASDAQ:CAC) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. lessened its stake in Camden National Co. (NASDAQ:CAC) by 14.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 48,202 shares of the financial services provider’s stock after selling 8,198 shares during the period. Ipswich Investment Management Co. Inc. owned about 0.33% of Camden National worth $1,992,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kimelman & Baird LLC acquired a new stake in shares of Camden National in the second quarter valued at $4,943,000. Creative Planning boosted its holdings in Camden National by 65.3% during the 3rd quarter. Creative Planning now owns 34,590 shares of the financial services provider’s stock valued at $1,429,000 after acquiring an additional 13,663 shares during the period. Assenagon Asset Management S.A. increased its stake in Camden National by 194.1% during the third quarter. Assenagon Asset Management S.A. now owns 33,344 shares of the financial services provider’s stock worth $1,378,000 after purchasing an additional 22,007 shares during the period. Hantz Financial Services Inc. acquired a new position in shares of Camden National in the second quarter valued at approximately $757,000. Finally, US Bancorp DE lifted its holdings in Camden National by 2.9% during the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock worth $461,000 after buying an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CAC. StockNews.com started coverage on Camden National in a research note on Saturday. They issued a “hold” rating for the company. Stephens increased their price objective on Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods boosted their target price on Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 11th.

Camden National Price Performance

Shares of NASDAQ:CAC opened at $47.25 on Friday. Camden National Co. has a 12 month low of $28.62 and a 12 month high of $50.07. The firm has a market capitalization of $688.91 million, a P/E ratio of 14.77 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.81. The company’s fifty day moving average price is $41.48 and its 200 day moving average price is $37.14.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.11. The business had revenue of $75.13 million during the quarter, compared to the consensus estimate of $43.90 million. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same period in the previous year, the business earned $0.96 EPS. As a group, sell-side analysts predict that Camden National Co. will post 3.45 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.56%. The ex-dividend date was Tuesday, October 15th. Camden National’s payout ratio is currently 52.50%.

Camden National 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.