Camden National Bank Reduces Position in Camden National Co. (NASDAQ:CAC)

Camden National Bank decreased its holdings in shares of Camden National Co. (NASDAQ:CAC) by 10.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,582 shares of the financial services provider’s stock after selling 10,882 shares during the period. Camden National Bank owned about 0.64% of Camden National worth $3,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CAC. Dimensional Fund Advisors LP increased its stake in Camden National by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock worth $27,605,000 after buying an additional 26,450 shares in the last quarter. Renaissance Technologies LLC raised its stake in Camden National by 1.3% during the 2nd quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock valued at $9,313,000 after purchasing an additional 3,600 shares during the period. LSV Asset Management lifted its holdings in Camden National by 8.4% in the 2nd quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock worth $7,874,000 after purchasing an additional 18,517 shares in the last quarter. American Century Companies Inc. raised its position in shares of Camden National by 11.1% during the second quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider’s stock valued at $6,029,000 after buying an additional 18,294 shares during the last quarter. Finally, Kimelman & Baird LLC purchased a new position in shares of Camden National in the second quarter worth $4,943,000. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CAC. StockNews.com started coverage on Camden National in a report on Saturday, November 16th. They set a “hold” rating for the company. Stephens boosted their target price on shares of Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods increased their price target on shares of Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a report on Wednesday, September 11th.

Camden National Trading Up 2.6 %

Shares of NASDAQ:CAC opened at $47.96 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $699.26 million, a P/E ratio of 14.99 and a beta of 0.72. The business’s 50-day moving average is $42.36 and its 200 day moving average is $37.67. Camden National Co. has a 1 year low of $28.62 and a 1 year high of $50.07.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 EPS 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 analysts’ expectations of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 9.95%. During the same period in the previous year, the business posted $0.96 EPS. On average, research analysts predict that Camden National Co. will post 3.45 earnings per share for the current fiscal year.

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a $0.42 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.68 annualized dividend and a yield of 3.50%. Camden National’s dividend payout ratio is presently 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.