Franklin Resources Inc. Lowers Stock Holdings in Camden National Co. (NASDAQ:CAC)

Franklin Resources Inc. lowered its position in shares of Camden National Co. (NASDAQ:CAC - Free Report) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,221,041 shares of the financial services provider's stock after selling 60,365 shares during the quarter. Franklin Resources Inc. owned 8.37% of Camden National worth $50,734,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Camden National during the 3rd quarter worth $659,000. Kimelman & Baird LLC acquired a new stake in shares of Camden National in the second quarter valued at about $4,943,000. Creative Planning boosted its holdings in Camden National by 65.3% during the third quarter. Creative Planning now owns 34,590 shares of the financial services provider's stock worth $1,429,000 after buying an additional 13,663 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in Camden National during the third quarter worth about $1,729,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in 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 valued at $4,876,000 after buying an additional 674 shares in the last quarter. 77.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. StockNews.com assumed coverage on Camden National in a research note on Wednesday. They set a "hold" rating on the stock. Keefe, Bruyette & Woods boosted their target price on Camden National from $43.00 to $48.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th.

Camden National Price Performance

NASDAQ:CAC traded down $2.31 during mid-day trading on Wednesday, hitting $42.65. 79,592 shares of the company's stock traded hands, compared to its average volume of 51,476. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $621.71 million, a PE ratio of 13.33 and a beta of 0.75. The firm's 50 day simple moving average is $44.99 and its 200 day simple moving average is $39.58. Camden National Co. has a 1 year low of $28.62 and a 1 year high of $50.07.

Camden National (NASDAQ:CAC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The business had revenue of $75.13 million during the quarter, compared to analysts' expectations of $43.90 million. During the same period last year, the company posted $0.96 EPS. Sell-side analysts expect that Camden National Co. will post 3.49 EPS for the current year.

Camden National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a $0.42 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.94%. Camden National's dividend payout ratio is currently 52.50%.

Camden National Company 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.