Camden National Co. (NASDAQ:CAC) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its holdings in shares of Camden National Co. (NASDAQ:CAC - Free Report) by 38.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,493 shares of the financial services provider's stock after buying an additional 24,676 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.61% of Camden National worth $3,782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in shares of Camden National by 12.6% during the 4th quarter. JPMorgan Chase & Co. now owns 319,794 shares of the financial services provider's stock valued at $13,668,000 after buying an additional 35,883 shares during the period. LPL Financial LLC boosted its holdings in Camden National by 3.8% in the fourth quarter. LPL Financial LLC now owns 6,982 shares of the financial services provider's stock valued at $298,000 after acquiring an additional 257 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Camden National during the fourth quarter valued at about $103,000. Sei Investments Co. increased its stake in Camden National by 63.1% during the fourth quarter. Sei Investments Co. now owns 12,403 shares of the financial services provider's stock worth $530,000 after acquiring an additional 4,797 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Camden National by 0.7% in the 4th quarter. American Century Companies Inc. now owns 206,804 shares of the financial services provider's stock worth $8,839,000 after purchasing an additional 1,508 shares during the period. 77.41% of the stock is owned by institutional investors and hedge funds.

Camden National Stock Up 2.4 %

NASDAQ CAC traded up $0.88 on Monday, reaching $37.32. The company had a trading volume of 28,158 shares, compared to its average volume of 64,539. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. Camden National Co. has a 1 year low of $28.62 and a 1 year high of $50.07. The firm has a 50-day moving average of $41.68 and a 200-day moving average of $43.13. The firm has a market capitalization of $629.32 million, a PE ratio of 10.30 and a beta of 0.61.

Camden National (NASDAQ:CAC - Get Free Report) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, beating 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 earned $0.85 earnings per share. On average, equities research analysts anticipate that Camden National Co. will post 4.25 EPS for the current fiscal year.

Camden National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Tuesday, April 15th. Camden National's dividend payout ratio (DPR) is 46.41%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CAC shares. StockNews.com assumed coverage on shares of Camden National in a research report on Wednesday, April 9th. They set a "hold" rating for the company. Raymond James reissued an "outperform" rating and issued a $53.00 target price (up previously from $50.00) on shares of Camden National in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods lifted their target price 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.

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.