Clark & Stuart Inc Purchases New Position in Camden National Co. (NASDAQ:CAC)

Clark & Stuart Inc acquired a new position in Camden National Co. (NASDAQ:CAC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,150 shares of the financial services provider’s stock, valued at approximately $434,000. Clark & Stuart Inc owned approximately 0.07% of Camden National at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CAC. Rhumbline Advisers raised its holdings in Camden National by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock worth $762,000 after purchasing an additional 319 shares during the period. US Bancorp DE increased its position in shares of Camden National by 2.9% in the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after buying an additional 319 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Camden National by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock worth $4,876,000 after buying an additional 674 shares during the period. Apollon Wealth Management LLC lifted its position in shares of Camden National by 3.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock valued at $1,258,000 after buying an additional 900 shares in the last quarter. Finally, Coston McIsaac & Partners grew its stake 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 valued at $480,000 after acquiring an additional 1,819 shares during the period. Institutional investors and hedge funds own 77.41% of the company’s stock.

Camden National Trading Down 0.6 %

Shares of CAC stock opened at $41.51 on Monday. Camden National Co. has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. The firm has a market capitalization of $605.09 million, a P/E ratio of 12.97 and a beta of 0.76. The stock’s fifty day moving average is $45.29 and its two-hundred day moving average is $40.91. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The firm had revenue of $75.13 million for the quarter, compared to the consensus estimate of $43.90 million. During the same period last year, the firm posted $0.96 earnings per share. Research analysts expect that Camden National Co. will post 3.49 earnings per share for the current fiscal year.

Camden National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.05%. Camden National’s dividend payout ratio (DPR) is presently 52.50%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CAC. StockNews.com started coverage on shares of Camden National in a research report on Saturday. They set a “hold” rating for the company. Raymond James upgraded shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Friday, December 20th. Finally, Keefe, Bruyette & Woods lifted their price objective on Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

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.