Bryn Mawr Capital Management LLC bought a new stake in Camden National Co. (NASDAQ:CAC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,775 shares of the financial services provider's stock, valued at approximately $247,000.
A number of other hedge funds have also modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in Camden National by 1.7% during the 4th quarter. Bank of New York Mellon Corp now owns 88,236 shares of the financial services provider's stock valued at $3,771,000 after purchasing an additional 1,515 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Camden National by 1.8% in the fourth quarter. Rhumbline Advisers now owns 23,204 shares of the financial services provider's stock valued at $992,000 after buying an additional 415 shares during the last quarter. Legato Capital Management LLC lifted its position in Camden National by 13.9% during the 4th quarter. Legato Capital Management LLC now owns 29,266 shares of the financial services provider's stock worth $1,251,000 after buying an additional 3,581 shares in the last quarter. Empowered Funds LLC grew its holdings in Camden National by 4.8% during the 4th quarter. Empowered Funds LLC now owns 39,725 shares of the financial services provider's stock worth $1,698,000 after acquiring an additional 1,833 shares during the last quarter. Finally, Coston McIsaac & Partners increased its position in Camden National by 11.8% in the 4th quarter. Coston McIsaac & Partners now owns 12,997 shares of the financial services provider's stock valued at $555,000 after acquiring an additional 1,376 shares in the last quarter. 77.41% of the stock is owned by institutional investors and hedge funds.
Camden National Stock Down 0.6 %
Shares of NASDAQ:CAC traded down $0.28 during midday trading on Monday, reaching $43.70. 108,248 shares of the company were exchanged, compared to its average volume of 77,309. The firm has a market cap of $637.01 million, a PE ratio of 12.07 and a beta of 0.77. 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 fifty-two week low of $28.62 and a fifty-two week high of $50.07. The stock has a fifty day simple moving average of $43.82 and a two-hundred day simple moving average of $42.89.
Camden National (NASDAQ:CAC - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.14. Camden National had a return on equity of 10.38% and a net margin of 18.02%. During the same quarter in the previous year, the company earned $0.85 earnings per share. As a group, sell-side analysts forecast that Camden National Co. will post 4.25 earnings per share for the current year.
Camden National Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were issued a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.84%. Camden National's dividend payout ratio (DPR) is presently 46.41%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on CAC shares. Keefe, Bruyette & Woods upped their price objective on Camden National from $48.00 to $50.00 and gave the stock a "market perform" rating in a report on Wednesday, January 29th. Raymond James reiterated an "outperform" rating and issued a $53.00 price target (up previously from $50.00) on shares of Camden National in a report on Wednesday, January 29th. Finally, StockNews.com began coverage on Camden National in a report on Friday. They set a "hold" rating for the company.
View Our Latest Research Report on CAC
About Camden National
(
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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