Connor Clark & Lunn Investment Management Ltd. Boosts Stake in Camden National Co. (NASDAQ:CAC)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Camden National Co. (NASDAQ:CAC - Free Report) by 54.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,572 shares of the financial services provider's stock after buying an additional 8,619 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.17% of Camden National worth $1,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its position in Camden National by 18,500.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider's stock valued at $79,000 after buying an additional 1,850 shares during the period. AlphaQuest LLC grew its position in shares of Camden National by 2,615.3% during the 4th quarter. AlphaQuest LLC now owns 4,263 shares of the financial services provider's stock valued at $182,000 after acquiring an additional 4,106 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Camden National during the 4th quarter valued at $210,000. Bryn Mawr Capital Management LLC purchased a new stake in shares of Camden National in the 4th quarter worth $247,000. Finally, Foundations Investment Advisors LLC bought a new position in Camden National in the 4th quarter worth $280,000. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on CAC shares. Keefe, Bruyette & Woods upped their price target on Camden National from $48.00 to $50.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 29th. Raymond James reissued an "outperform" rating and issued a $53.00 target price (up from $50.00) on shares of Camden National in a report on Wednesday, January 29th. Finally, StockNews.com started coverage on shares of Camden National in a report on Monday. They set a "hold" rating on the stock.

Camden National Price Performance

Shares of Camden National stock traded up $0.97 during trading hours on Monday, hitting $42.01. The company's stock had a trading volume of 58,278 shares, compared to its average volume of 58,903. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. Camden National Co. has a 12-month low of $28.62 and a 12-month high of $50.07. The business has a 50 day moving average price of $43.54 and a two-hundred day moving average price of $43.17. The company has a market cap of $708.50 million, a PE ratio of 11.60 and a beta of 0.73.

Camden National (NASDAQ:CAC - Get Free Report) last posted its quarterly earnings results 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 period in the prior year, the business posted $0.85 earnings per share. Analysts expect that Camden National Co. will post 4.25 earnings per share for the current fiscal year.

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.