Wilmington Savings Fund Society FSB Cuts Stock Holdings in Camden National Co. (NASDAQ:CAC)

Wilmington Savings Fund Society FSB reduced its stake in Camden National Co. (NASDAQ:CAC) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 118,170 shares of the financial services provider’s stock after selling 2,657 shares during the quarter. Wilmington Savings Fund Society FSB owned approximately 0.81% of Camden National worth $5,051,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Camden National during the 2nd quarter worth approximately $73,000. Nisa Investment Advisors LLC raised its stake in shares of Camden National by 18,500.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 1,850 shares during the period. Foundations Investment Advisors LLC bought a new position in shares of Camden National in the fourth quarter valued at approximately $280,000. SG Americas Securities LLC boosted its holdings in Camden National by 58.1% in 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. Finally, Clark & Stuart Inc bought a new position in shares of Camden National in the fourth quarter worth $434,000. 77.41% of the stock is currently owned by institutional investors.

Camden National Stock Down 2.8 %

CAC stock opened at $45.21 on Friday. The business has a fifty day moving average price of $44.25 and a 200-day moving average price of $42.20. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $659.16 million, a P/E ratio of 12.49 and a beta of 0.77. Camden National Co. has a 1-year low of $28.62 and a 1-year high of $50.07.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. Camden National had a return on equity of 10.38% and a net margin of 18.02%. During the same quarter in the previous year, the firm earned $0.85 earnings per share. Equities analysts forecast that Camden National Co. will post 4.25 earnings per share for the current fiscal year.

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were paid a dividend of $0.42 per share. The ex-dividend date was Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.72%. Camden National’s dividend payout ratio (DPR) is presently 46.41%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CAC shares. Keefe, Bruyette & Woods boosted their price target on shares of Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. StockNews.com initiated coverage on Camden National in a research note on Tuesday, February 4th. They issued a “hold” rating for the company. Finally, Raymond James restated an “outperform” rating and set a $53.00 target price (up from $50.00) on shares of Camden National in a report on Wednesday, January 29th.

About Camden National

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.