Camden National Co. (NASDAQ:CAC) Shares Sold by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC cut its stake in shares of Camden National Co. (NASDAQ:CAC - Free Report) by 9.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 176,356 shares of the financial services provider's stock after selling 18,000 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 1.21% of Camden National worth $7,287,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CAC. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Camden National in the second quarter worth approximately $73,000. SG Americas Securities LLC boosted its stake in Camden National by 58.1% during the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider's stock worth $292,000 after purchasing an additional 2,602 shares during the last quarter. Inspire Investing LLC purchased a new stake in shares of Camden National during the second quarter worth $349,000. US Bancorp DE grew its holdings in shares of Camden National by 2.9% during the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider's stock worth $461,000 after buying an additional 319 shares in the last quarter. Finally, Coston McIsaac & Partners raised its position in shares of Camden National by 18.6% in the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider's stock valued at $480,000 after buying an additional 1,819 shares during the last quarter. 77.41% of the stock is owned by hedge funds and other institutional investors.

Camden National Stock Down 0.8 %

CAC traded down $0.37 on Thursday, hitting $46.80. 35,551 shares of the company were exchanged, compared to its average volume of 51,237. The firm has a 50-day moving average price of $43.91 and a two-hundred day moving average price of $38.69. 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 twelve month low of $28.62 and a twelve month high of $50.07. The company has a market cap of $682.34 million, a price-to-earnings ratio of 14.63 and a beta of 0.75.

Camden National (NASDAQ:CAC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The company had revenue of $75.13 million during the quarter, compared to analysts' expectations of $43.90 million. During the same quarter in the previous year, the business posted $0.96 EPS. On average, equities analysts predict that Camden National Co. will post 3.45 earnings per share for the current year.

Camden National Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Tuesday, October 15th. Camden National's payout ratio is 52.50%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CAC. Keefe, Bruyette & Woods boosted their price objective on Camden National from $43.00 to $48.00 and gave the stock a "market perform" rating in a research note on Wednesday. StockNews.com assumed coverage on shares of Camden National in a research report on Monday. They set a "hold" rating on the stock.

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.