Northwestern Mutual Wealth Management Co. Acquires 62,131 Shares of Camden National Corporation $CAC

Northwestern Mutual Wealth Management Co. raised its holdings in Camden National Corporation (NASDAQ:CAC) by 2,802.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 64,348 shares of the financial services provider’s stock after buying an additional 62,131 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Camden National were worth $2,791,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new position in Camden National in the 3rd quarter valued at $26,000. Russell Investments Group Ltd. grew its position in Camden National by 13,790.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 1,379 shares during the last quarter. Advisory Services Network LLC bought a new position in Camden National in the 3rd quarter valued at $58,000. Nisa Investment Advisors LLC grew its position in Camden National by 15,220.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,532 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 1,522 shares during the last quarter. Finally, Aquatic Capital Management LLC grew its position in Camden National by 33.5% in the 3rd quarter. Aquatic Capital Management LLC now owns 3,153 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 791 shares during the last quarter. Institutional investors own 77.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CAC. Stephens reaffirmed an “equal weight” rating and issued a $53.00 price objective on shares of Camden National in a research report on Thursday, February 5th. Keefe, Bruyette & Woods increased their price target on Camden National from $47.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. National Bank Financial set a $50.00 price target on Camden National in a research report on Wednesday, April 29th. Raymond James Financial reissued an “outperform” rating and set a $56.00 price target on shares of Camden National in a research report on Wednesday, April 29th. Finally, Weiss Ratings raised Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Camden National currently has an average rating of “Hold” and a consensus price target of $52.25.

Camden National Price Performance

CAC opened at $49.32 on Tuesday. Camden National Corporation has a 12-month low of $35.00 and a 12-month high of $53.71. The business’s fifty day simple moving average is $48.46 and its 200-day simple moving average is $46.09. The company has a market capitalization of $834.49 million, a price-to-earnings ratio of 10.49 and a beta of 0.56. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. Camden National had a return on equity of 11.78% and a net margin of 21.32%.The company had revenue of $64.34 million for the quarter, compared to the consensus estimate of $65.57 million. On average, equities research analysts anticipate that Camden National Corporation will post 5.39 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 15th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.4%. Camden National’s dividend payout ratio (DPR) is presently 35.74%.

About Camden National

Camden National Corporation is a bank holding company headquartered in Camden, Maine. Through its primary subsidiary, Camden National Bank, the company provides a full range of community banking services to individuals and businesses. Its branch network spans much of the State of Maine, with a concentration in the midcoast, central and southern regions.

The company’s offerings include deposit products such as checking, savings and money market accounts, along with consumer and commercial lending services.