Assenagon Asset Management S.A. Raises Stock Holdings in Camden National Co. (NASDAQ:CAC)

Assenagon Asset Management S.A. lifted its holdings in shares of Camden National Co. (NASDAQ:CAC - Free Report) by 194.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 33,344 shares of the financial services provider's stock after purchasing an additional 22,007 shares during the period. Assenagon Asset Management S.A. owned about 0.23% of Camden National worth $1,378,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in CAC. Northwestern Mutual Wealth Management Co. purchased a new stake in Camden National during the 2nd quarter valued at $73,000. BNP Paribas Financial Markets grew its stake 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. SG Americas Securities LLC increased its holdings 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 valued at $292,000 after purchasing an additional 2,602 shares during the period. Inspire Investing LLC bought a new position in Camden National during the 2nd quarter valued at approximately $349,000. Finally, Coston McIsaac & Partners lifted its holdings in Camden National by 18.6% in the 3rd quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider's stock worth $480,000 after buying an additional 1,819 shares during the period. Hedge funds and other institutional investors own 77.41% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CAC. 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 initiated coverage on shares of Camden National in a research note on Thursday. They issued a "hold" rating for the company. Finally, Stephens boosted their target price on 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 Price Performance

Shares of NASDAQ:CAC opened at $42.08 on Friday. The firm has a market cap of $613.11 million, a price-to-earnings ratio of 13.15 and a beta of 0.72. 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 $40.12 and a two-hundred day simple moving average of $36.07. Camden National Co. has a fifty-two week low of $28.62 and a fifty-two week high of $43.75.

Camden National (NASDAQ:CAC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.11. The company had revenue of $75.13 million during the quarter, compared to analysts' expectations of $43.90 million. Camden National had a return on equity of 10.09% and a net margin of 16.47%. During the same quarter in the prior year, the business earned $0.96 earnings per share. On average, analysts expect that Camden National Co. will post 3.42 earnings per share for the current year.

Camden National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were given a dividend of $0.42 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.68 annualized dividend and a yield of 3.99%. Camden National's dividend payout ratio (DPR) is 52.50%.

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.