Dean Capital Management Acquires 20,233 Shares of Camden National Corporation $CAC

Dean Capital Management increased its holdings in shares of Camden National Corporation (NASDAQ:CAC) by 106.4% during the fourth quarter, Holdings Channel reports. The fund owned 39,251 shares of the financial services provider’s stock after acquiring an additional 20,233 shares during the quarter. Dean Capital Management’s holdings in Camden National were worth $1,703,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CAC. JPMorgan Chase & Co. grew its stake in Camden National by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 311,170 shares of the financial services provider’s stock valued at $12,008,000 after buying an additional 13,849 shares during the last quarter. UBS Group AG lifted its position in Camden National by 47.2% during the fourth quarter. UBS Group AG now owns 58,395 shares of the financial services provider’s stock worth $2,533,000 after acquiring an additional 18,722 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Camden National by 2,802.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 64,348 shares of the financial services provider’s stock worth $2,791,000 after acquiring an additional 62,131 shares during the period. Abacus Wealth Partners LLC bought a new stake in shares of Camden National during the fourth quarter worth approximately $811,000. Finally, Globeflex Capital L P grew its position in shares of Camden National by 87.2% in the fourth quarter. Globeflex Capital L P now owns 28,948 shares of the financial services provider’s stock valued at $1,256,000 after purchasing an additional 13,486 shares during the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

Camden National Stock Performance

NASDAQ CAC opened at $51.49 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $871.21 million, a P/E ratio of 10.96 and a beta of 0.56. Camden National Corporation has a 12-month low of $35.00 and a 12-month high of $53.71. The firm has a 50-day moving average price of $49.87 and a two-hundred day moving average price of $47.53.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. Camden National had a net margin of 21.32% and a return on equity of 11.78%. The firm had revenue of $64.34 million for the quarter, compared to analyst estimates of $65.57 million. Analysts anticipate that Camden National Corporation will post 5.39 earnings per share for the current year.

Camden National Dividend Announcement

The business also recently declared 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 3.3%. Camden National’s dividend payout ratio is currently 35.74%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Camden National in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods boosted their price target on Camden National from $47.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, April 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $56.00 price objective on shares of Camden National in a report on Wednesday, April 29th. Finally, National Bank Financial set a $50.00 price objective on Camden National in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $52.25.

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.