Alps Advisors Inc. acquired a new position in Camden National Corporation (NASDAQ:CAC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 8,670 shares of the financial services provider's stock, valued at approximately $351,000. Alps Advisors Inc. owned about 0.05% of Camden National at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in Camden National by 7.4% in 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 acquiring an additional 90,485 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Camden National in the fourth quarter valued at approximately $1,727,000. JPMorgan Chase & Co. lifted its holdings in Camden National by 12.6% in the fourth quarter. JPMorgan Chase & Co. now owns 319,794 shares of the financial services provider's stock valued at $13,668,000 after acquiring an additional 35,883 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Camden National by 38.7% in 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 acquiring an additional 24,676 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Camden National by 214.9% in the fourth quarter. Teacher Retirement System of Texas now owns 27,973 shares of the financial services provider's stock valued at $1,196,000 after acquiring an additional 19,090 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors and hedge funds.
Camden National Stock Performance
NASDAQ CAC traded down $0.16 during trading hours on Friday, hitting $42.27. The company had a trading volume of 62,557 shares, compared to its average volume of 69,319. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. Camden National Corporation has a 1-year low of $34.53 and a 1-year high of $50.07. The company has a market cap of $713.94 million, a PE ratio of 13.46 and a beta of 0.63. The business has a 50 day moving average of $40.65 and a 200-day moving average of $41.23.
Camden National (NASDAQ:CAC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The financial services provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.04). Camden National had a return on equity of 10.28% and a net margin of 15.03%. The business had revenue of $60.05 million for the quarter, compared to analyst estimates of $57.63 million. As a group, equities research analysts expect that Camden National Corporation will post 4.25 EPS for the current year.
Camden National Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be given a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.97%. Camden National's payout ratio is currently 53.50%.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. Wall Street Zen assumed coverage on Camden National in a research note on Monday, May 19th. They set a "hold" rating on the stock. Keefe, Bruyette & Woods decreased their price target on Camden National from $48.00 to $47.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 7th.
Check Out Our Latest Analysis on Camden National
Camden National Company Profile
(
Free Report)
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.
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