Creative Planning Grows Stake in Camden National Co. (NASDAQ:CAC)

Creative Planning increased its stake in Camden National Co. (NASDAQ:CAC - Free Report) by 65.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,590 shares of the financial services provider's stock after acquiring an additional 13,663 shares during the period. Creative Planning owned approximately 0.24% of Camden National worth $1,429,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kimelman & Baird LLC purchased a new position in shares of Camden National during the second quarter valued at approximately $4,943,000. Signaturefd LLC boosted its position in shares of Camden National by 2,990.3% during the first quarter. Signaturefd LLC now owns 38,567 shares of the financial services provider's stock valued at $1,293,000 after buying an additional 37,319 shares during the period. ProShare Advisors LLC boosted its position in shares of Camden National by 13.2% during the first quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider's stock valued at $8,027,000 after buying an additional 28,007 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Camden National by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider's stock valued at $27,605,000 after buying an additional 26,450 shares during the period. Finally, Hantz Financial Services Inc. purchased a new position in shares of Camden National during the second quarter valued at approximately $757,000. Hedge funds and other institutional investors own 77.41% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their target price on Camden National from $40.00 to $41.00 and gave the company a "market perform" rating in a research report on Wednesday, September 11th. StockNews.com assumed coverage on Camden National in a research report on Wednesday, October 23rd. They set a "hold" rating for the company. Finally, Stephens boosted their target price on Camden National from $35.00 to $42.00 and gave the company an "equal weight" rating in a research report on Friday, August 2nd.

Camden National Trading Up 0.5 %

Shares of Camden National stock traded up $0.22 on Wednesday, hitting $42.42. 43,509 shares of the company traded hands, compared to its average volume of 49,933. The stock's 50 day moving average price is $39.90 and its 200-day moving average price is $35.89. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. Camden National Co. has a 52 week low of $28.00 and a 52 week high of $43.75. The company has a market cap of $619.63 million, a PE ratio of 14.09 and a beta of 0.72.

Camden National (NASDAQ:CAC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.10. The company had revenue of $72.81 million during the quarter, compared to the consensus estimate of $41.07 million. Camden National had a net margin of 16.01% and a return on equity of 10.36%. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Equities research analysts predict that Camden National Co. will post 3.34 EPS for the current year.

Camden National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Tuesday, October 15th. Camden National's dividend payout ratio (DPR) is 55.81%.

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.