Creative Planning Buys 13,663 Shares of Camden National Co. (NASDAQ:CAC)

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

Several other large investors have also recently modified their holdings of CAC. Dimensional Fund Advisors LP grew its stake in shares of Camden National by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider's stock worth $27,605,000 after acquiring an additional 26,450 shares during the period. Renaissance Technologies LLC boosted its position in Camden National by 1.3% in the second quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider's stock worth $9,313,000 after purchasing an additional 3,600 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Camden National by 13.2% during the 1st quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider's stock valued at $8,027,000 after purchasing an additional 28,007 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Camden National by 8.4% in the second quarter. LSV Asset Management now owns 238,595 shares of the financial services provider's stock worth $7,874,000 after buying an additional 18,517 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Camden National by 11.1% during the second quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider's stock valued at $6,029,000 after buying an additional 18,294 shares during the last quarter. Hedge funds and other institutional investors own 77.41% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on CAC. Keefe, Bruyette & Woods upped their price objective on Camden National from $40.00 to $41.00 and gave the stock a "market perform" rating in a research note on Wednesday, September 11th. StockNews.com initiated coverage on shares of Camden National in a report on Wednesday, October 23rd. They issued a "hold" rating for the company. Finally, Stephens upped their price target on shares of Camden National from $35.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Friday, August 2nd.

Camden National Price Performance

Shares of Camden National stock traded up $0.66 on Wednesday, hitting $42.86. 17,440 shares of the company traded hands, compared to its average volume of 49,809. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.82. The business has a 50-day simple moving average of $39.90 and a 200 day simple moving average of $35.89. Camden National Co. has a 52 week low of $28.00 and a 52 week high of $43.68. The stock has a market capitalization of $626.06 million, a P/E ratio of 14.28 and a beta of 0.72.

Camden National (NASDAQ:CAC - Get Free Report) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $41.07 million. Camden National had a return on equity of 10.36% and a net margin of 16.01%. During the same period in the previous year, the business earned $0.85 earnings per share. Research analysts expect that Camden National Co. will post 3.34 earnings per share for the current fiscal year.

Camden National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend is Tuesday, October 15th. Camden National's payout ratio 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.