Camden National Co. (NASDAQ:CAC) Stake Boosted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its stake in shares of Camden National Co. (NASDAQ:CAC - Free Report) by 194.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,344 shares of the financial services provider's stock after purchasing an additional 22,007 shares during the quarter. Assenagon Asset Management S.A. owned about 0.23% of Camden National worth $1,378,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Signaturefd LLC raised its holdings in Camden National by 2,990.3% during the first quarter. Signaturefd LLC now owns 38,567 shares of the financial services provider's stock worth $1,293,000 after purchasing an additional 37,319 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Camden National in the 2nd quarter worth about $4,943,000. ProShare Advisors LLC grew its stake in Camden National by 13.2% in the 1st quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider's stock valued at $8,027,000 after acquiring an additional 28,007 shares during the last quarter. Creative Planning grew its stake in Camden National by 65.3% in the 3rd quarter. Creative Planning now owns 34,590 shares of the financial services provider's stock valued at $1,429,000 after acquiring an additional 13,663 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new position in Camden National during the second quarter worth about $757,000. Hedge funds and other institutional investors own 77.41% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CAC shares. StockNews.com began coverage on Camden National in a report on Thursday. They set a "hold" rating on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Camden National from $40.00 to $41.00 and gave the stock a "market perform" rating in a report on Wednesday, September 11th. Finally, Stephens raised their target price 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 Stock Up 0.3 %

Shares of CAC stock traded up $0.13 on Friday, hitting $42.08. The stock had a trading volume of 95,934 shares, compared to its average volume of 50,204. Camden National Co. has a 52-week low of $28.62 and a 52-week high of $43.75. The firm has a market capitalization 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 stock's 50 day moving average is $40.12 and its 200-day moving average is $36.12.

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

Camden National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.68 dividend on an annualized basis 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.