ExodusPoint Capital Management LP Grows Stake in Camden National Co. (NASDAQ:CAC)

ExodusPoint Capital Management LP grew its holdings in shares of Camden National Co. (NASDAQ:CAC - Free Report) by 130.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,985 shares of the financial services provider's stock after buying an additional 9,603 shares during the period. ExodusPoint Capital Management LP owned 0.12% of Camden National worth $726,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAC. Franklin Resources Inc. boosted its position in shares of Camden National by 7.4% during the fourth quarter. Franklin Resources Inc. now owns 1,311,526 shares of the financial services provider's stock valued at $56,055,000 after purchasing an additional 90,485 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Camden National by 38.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 88,493 shares of the financial services provider's stock valued at $3,782,000 after buying an additional 24,676 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Camden National by 12.6% during the 4th quarter. JPMorgan Chase & Co. now owns 319,794 shares of the financial services provider's stock valued at $13,668,000 after buying an additional 35,883 shares in the last quarter. LPL Financial LLC grew its position in shares of Camden National by 3.8% in the 4th quarter. LPL Financial LLC now owns 6,982 shares of the financial services provider's stock worth $298,000 after buying an additional 257 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Camden National in the 4th quarter worth about $103,000. Institutional investors own 77.41% of the company's stock.

Analyst Upgrades and Downgrades

CAC has been the topic of several research reports. StockNews.com initiated coverage on shares of Camden National in a research note on Thursday. They set a "hold" rating on the stock. Keefe, Bruyette & Woods boosted their price target on Camden National from $48.00 to $50.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 29th. Finally, Raymond James reiterated an "outperform" rating and set a $53.00 price objective (up previously from $50.00) on shares of Camden National in a research note on Wednesday, January 29th.

Camden National Stock Up 1.1 %

Shares of NASDAQ:CAC traded up $0.41 during trading on Thursday, reaching $37.83. 29,390 shares of the stock traded hands, compared to its average volume of 65,464. Camden National Co. has a 52-week low of $28.62 and a 52-week high of $50.07. The stock has a market cap of $638.71 million, a P/E ratio of 10.45 and a beta of 0.61. The stock has a 50-day moving average of $41.17 and a two-hundred day moving average of $43.03. 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 - Get Free Report) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, topping 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 period last year, the business posted $0.85 earnings per share. As a group, sell-side analysts expect that Camden National Co. will post 4.25 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 Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend is Tuesday, April 15th. Camden National's payout ratio is presently 46.41%.

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.