Bryn Mawr Capital Management LLC Buys New Stake in Camden National Co. (NASDAQ:CAC)

Bryn Mawr Capital Management LLC bought a new stake in shares of Camden National Co. (NASDAQ:CAC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 159,367 shares of the financial services provider's stock, valued at approximately $6,811,000. Bryn Mawr Capital Management LLC owned 1.09% of Camden National as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CAC. Creative Planning boosted its stake in shares of 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 buying an additional 13,663 shares during the period. Coston McIsaac & Partners boosted its stake in shares of Camden National by 18.6% during the 3rd quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider's stock valued at $480,000 after buying an additional 1,819 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Camden National by 194.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 33,344 shares of the financial services provider's stock valued at $1,378,000 after purchasing an additional 22,007 shares in the last quarter. HM Payson & Co. raised its holdings in shares of Camden National by 51.1% during the 3rd quarter. HM Payson & Co. now owns 17,158 shares of the financial services provider's stock valued at $709,000 after purchasing an additional 5,803 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Camden National by 2.9% during the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider's stock valued at $461,000 after purchasing an additional 319 shares in the last quarter. Institutional investors and hedge funds own 77.41% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Raymond James restated an "outperform" rating and set a $53.00 price target (up previously from $50.00) on shares of Camden National in a report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price target on shares of Camden National from $48.00 to $50.00 and gave the company a "market perform" rating in a report on Wednesday, January 29th. Finally, StockNews.com began coverage on shares of Camden National in a report on Thursday. They issued a "hold" rating on the stock.

Camden National Stock Performance

CAC traded down $0.82 during trading on Friday, hitting $43.09. The stock had a trading volume of 66,736 shares, compared to its average volume of 62,915. The firm has a market cap of $628.25 million, a PE ratio of 11.90 and a beta of 0.77. Camden National Co. has a 12 month low of $28.62 and a 12 month high of $50.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The company has a 50 day simple moving average of $43.85 and a 200-day simple moving average of $42.55.

Camden National (NASDAQ:CAC - Get Free Report) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same period in the prior year, the firm posted $0.85 EPS. Analysts expect that Camden National Co. will post 4.25 EPS for the current year.

Camden National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date was Wednesday, January 15th. Camden National's dividend payout ratio is currently 46.41%.

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.