Basswood Capital Management L.L.C. purchased a new position in Camden National Corporation (NASDAQ:CAC - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 247,699 shares of the financial services provider's stock, valued at approximately $13,430,000. Basswood Capital Management L.L.C. owned 1.47% of Camden National at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Clearstead Trust LLC bought a new position in shares of Camden National in the second quarter worth approximately $29,000. PNC Financial Services Group Inc. increased its stake in shares of Camden National by 106.1% in the first quarter. PNC Financial Services Group Inc. now owns 878 shares of the financial services provider's stock worth $42,000 after buying an additional 452 shares during the period. Russell Investments Group Ltd. raised its holdings in Camden National by 13,790.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider's stock valued at $54,000 after buying an additional 1,379 shares during the last quarter. Advisory Services Network LLC bought a new stake in Camden National during the 3rd quarter valued at $58,000. Finally, Trust Co. of Vermont purchased a new stake in Camden National during the 2nd quarter valued at $90,000. Institutional investors own 77.41% of the company's stock.
Camden National Price Performance
CAC opened at $56.58 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $956.20 million, a PE ratio of 10.84 and a beta of 0.55. The stock's 50 day moving average price is $55.64 and its 200-day moving average price is $51.17. Camden National Corporation has a 52-week low of $35.00 and a 52-week high of $60.59.
Camden National (NASDAQ:CAC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.06. The company had revenue of $67.41 million during the quarter, compared to analyst estimates of $66.41 million. Camden National had a return on equity of 12.59% and a net margin of 23.64%. On average, equities research analysts predict that Camden National Corporation will post 5.43 EPS for the current year.
Camden National Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, July 15th. Camden National's dividend payout ratio (DPR) is currently 32.18%.
Analyst Ratings Changes
A number of equities research analysts have issued reports on CAC shares. Raymond James Financial raised their price target on shares of Camden National from $56.00 to $58.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Keefe, Bruyette & Woods upped their price objective on shares of Camden National from $50.00 to $55.00 and gave the company a "market perform" rating in a research note on Thursday, July 30th. National Bank Financial set a $55.00 target price on shares of Camden National in a report on Thursday, July 30th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Camden National in a report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Camden National presently has a consensus rating of "Hold" and a consensus target price of $55.25.
Check Out Our Latest Stock Analysis on CAC
About Camden National
(
Free Report)
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.
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