Dimensional Fund Advisors LP Grows Stake in Camden National Co. (NASDAQ:CAC)

Dimensional Fund Advisors LP lifted its holdings in shares of Camden National Co. (NASDAQ:CAC - Free Report) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 836,521 shares of the financial services provider's stock after purchasing an additional 26,450 shares during the period. Dimensional Fund Advisors LP owned about 5.73% of Camden National worth $27,605,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in shares of Camden National by 89.3% in the first quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider's stock worth $237,000 after purchasing an additional 3,330 shares during the last quarter. Trexquant Investment LP bought a new stake in Camden National in the 4th quarter worth $294,000. Price T Rowe Associates Inc. MD increased its position in shares of Camden National by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider's stock valued at $546,000 after acquiring an additional 4,907 shares during the period. Cornercap Investment Counsel Inc. bought a new position in shares of Camden National during the second quarter valued at about $578,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Camden National during the second quarter worth about $757,000. Hedge funds and other institutional investors own 77.41% of the company's stock.

Camden National Stock Up 0.6 %

NASDAQ CAC traded up $0.23 during mid-day trading on Thursday, reaching $38.98. The stock had a trading volume of 49,539 shares, compared to its average volume of 49,952. The stock has a market cap of $569.38 million, a PE ratio of 12.98 and a beta of 0.72. Camden National Co. has a 1 year low of $26.52 and a 1 year high of $43.44. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.81. The company has a fifty day moving average price of $38.76 and a 200 day moving average price of $34.61.

Camden National (NASDAQ:CAC - Get Free Report) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.10. The business had revenue of $72.81 million during the quarter, compared to analyst estimates of $41.07 million. Camden National had a return on equity of 10.36% and a net margin of 16.01%. During the same quarter in the previous year, the firm earned $0.85 EPS. On average, research analysts expect that Camden National Co. will post 3.33 earnings per share for the current year.

Camden National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Tuesday, October 15th. Camden National's dividend payout ratio (DPR) is presently 55.81%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Camden National from $40.00 to $41.00 and gave the company a "market perform" rating in a report on Wednesday, September 11th. StockNews.com started coverage on shares of Camden National in a research report on Sunday. They set a "hold" rating on the stock. Finally, Stephens raised their price objective on shares of Camden National from $35.00 to $42.00 and gave the stock an "equal weight" rating in a report on Friday, August 2nd.

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.