Assenagon Asset Management S.A. decreased its stake in shares of Camden National Co. (NASDAQ:CAC - Free Report) by 26.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,406 shares of the financial services provider's stock after selling 8,938 shares during the period. Assenagon Asset Management S.A. owned 0.17% of Camden National worth $1,043,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Camden National during the 2nd quarter worth about $73,000. SG Americas Securities LLC grew its holdings in shares of Camden National by 58.1% during the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider's stock worth $292,000 after buying an additional 2,602 shares in the last quarter. Clark & Stuart Inc acquired a new position in shares of Camden National in the fourth quarter valued at approximately $434,000. US Bancorp DE lifted its stake in shares of Camden National by 2.9% during the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider's stock valued at $461,000 after buying an additional 319 shares during the period. Finally, Coston McIsaac & Partners boosted its position in Camden National by 18.6% during the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider's stock worth $480,000 after acquiring an additional 1,819 shares during the last quarter. 77.41% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. StockNews.com began coverage on Camden National in a research report on Sunday, January 19th. They issued a "hold" rating for the company. Raymond James raised shares of Camden National from a "market perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a research note on Friday, December 20th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Camden National from $43.00 to $48.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th.
Check Out Our Latest Research Report on CAC
Camden National Trading Up 0.9 %
Shares of NASDAQ CAC traded up $0.37 during midday trading on Friday, hitting $43.80. The stock had a trading volume of 48,735 shares, compared to its average volume of 68,570. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National Co. has a 1-year low of $28.62 and a 1-year high of $50.07. The company has a market capitalization of $638.60 million, a price-to-earnings ratio of 13.69 and a beta of 0.76. The company has a fifty day moving average price of $44.61 and a 200 day moving average price of $41.64.
Camden National (NASDAQ:CAC - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.11. The company had revenue of $75.13 million during the quarter, compared to analyst estimates of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 9.95%. During the same quarter in the prior year, the business earned $0.96 earnings per share. On average, analysts predict that Camden National Co. will post 3.49 earnings per share for the current year.
Camden National Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Wednesday, January 15th. Camden National's dividend payout ratio is presently 52.50%.
Camden National Profile
(
Free Report)
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.
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