Franklin Resources Inc. Has $56.06 Million Stake in Camden National Co. (NASDAQ:CAC)

Franklin Resources Inc. grew its holdings in shares of Camden National Co. (NASDAQ:CAC - Free Report) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,311,526 shares of the financial services provider's stock after purchasing an additional 90,485 shares during the quarter. Franklin Resources Inc. owned approximately 9.00% of Camden National worth $56,055,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of Camden National by 53.6% in the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider's stock valued at $11,731,000 after purchasing an additional 99,097 shares during the period. Barclays PLC raised its holdings in shares of Camden National by 38.9% in the third quarter. Barclays PLC now owns 48,339 shares of the financial services provider's stock worth $1,998,000 after buying an additional 13,542 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Camden National by 1.2% during the third quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider's stock worth $14,236,000 after purchasing an additional 4,067 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Camden National by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider's stock worth $4,876,000 after acquiring an additional 674 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Camden National by 26.5% during the fourth quarter. SG Americas Securities LLC now owns 8,952 shares of the financial services provider's stock worth $383,000 after acquiring an additional 1,875 shares during the period. Institutional investors own 77.41% of the company's stock.

Camden National Price Performance

Shares of CAC stock traded up $1.16 during mid-day trading on Tuesday, reaching $37.51. The stock had a trading volume of 22,507 shares, compared to its average volume of 62,658. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The business has a 50-day simple moving average of $42.67 and a 200 day simple moving average of $43.26. Camden National Co. has a 12-month low of $28.62 and a 12-month high of $50.07. The company has a market cap of $632.52 million, a P/E ratio of 10.33 and a beta of 0.61.

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 (EPS) 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 business earned $0.85 EPS. On average, sell-side analysts anticipate that Camden National Co. will post 4.25 earnings per share for the current year.

Camden National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Tuesday, April 15th. Camden National's dividend payout ratio (DPR) is 46.41%.

Analysts Set New Price Targets

A number of analysts have recently commented on CAC shares. Keefe, Bruyette & Woods boosted their target price on shares of Camden National from $48.00 to $50.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 29th. StockNews.com initiated coverage on shares of Camden National in a research note on Tuesday, April 1st. They set a "hold" rating for the company. Finally, Raymond James restated an "outperform" rating and issued a $53.00 price target (up previously from $50.00) on shares of Camden National in a research note 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.