JPMorgan Chase & Co. Purchases 99,097 Shares of Camden National Co. (NASDAQ:CAC)

JPMorgan Chase & Co. lifted its position in Camden National Co. (NASDAQ:CAC - Free Report) by 53.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 283,911 shares of the financial services provider's stock after purchasing an additional 99,097 shares during the quarter. JPMorgan Chase & Co. owned 1.95% of Camden National worth $11,731,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rhumbline Advisers grew its holdings in shares of Camden National by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider's stock worth $762,000 after acquiring an additional 319 shares during the period. US Bancorp DE grew 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 worth $461,000 after acquiring an additional 319 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Camden National by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider's stock worth $4,876,000 after buying an additional 674 shares during the last quarter. Apollon Wealth Management LLC grew its stake in shares of Camden National by 3.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider's stock worth $1,258,000 after buying an additional 900 shares during the last quarter. Finally, Coston McIsaac & Partners grew its stake in shares of Camden National by 18.6% in the 3rd quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider's stock worth $480,000 after buying an additional 1,819 shares during the last quarter. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAC has been the topic of several recent research reports. Raymond James upgraded Camden National from a "market perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a research note on Friday, December 20th. StockNews.com initiated coverage on Camden National in a research note on Saturday. They issued a "hold" rating on the stock. Finally, Keefe, Bruyette & Woods upped their price target on Camden National from $43.00 to $48.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th.

Camden National Stock Up 1.5 %

CAC traded up $0.62 during trading on Monday, hitting $42.13. 99,178 shares of the company's stock traded hands, compared to its average volume of 98,683. The company's 50 day simple moving average is $45.29 and its two-hundred day simple moving average is $40.91. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National Co. has a 12-month low of $28.62 and a 12-month high of $50.07. The stock has a market capitalization of $614.13 million, a price-to-earnings ratio of 13.17 and a beta of 0.76.

Camden National (NASDAQ:CAC - Get Free Report) last issued its earnings results 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. Camden National had a return on equity of 9.95% and a net margin of 16.47%. The business had revenue of $75.13 million for the quarter, compared to the consensus estimate of $43.90 million. During the same period last year, the business posted $0.96 EPS. Analysts predict that Camden National Co. will post 3.49 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.42 per share. The ex-dividend date is Wednesday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.99%. Camden National's payout ratio is 52.50%.

About Camden National

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.