American Century Companies Inc. Has $7.85 Million Stock Position in Camden National Corporation $CAC

Key Points

• American Century Companies Inc. has reduced its stake in Camden National Corporation by 6.2%, holding 193,902 shares valued at approximately $7.85 million as of the latest SEC filing.
• Camden National recently reported $0.89 EPS for the quarter, missing analysts' expectations, but achieved revenues of $69.82 million, surpassing predictions of $61.04 million.
• The company declared a quarterly dividend of $0.42, with a 4.1% dividend yield and a payout ratio of 53.16%.

American Century Companies Inc. reduced its stake in shares of Camden National Corporation (NASDAQ:CAC - Free Report) by 6.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 193,902 shares of the financial services provider's stock after selling 12,902 shares during the quarter. American Century Companies Inc. owned about 1.15% of Camden National worth $7,847,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CAC. Wells Fargo & Company MN grew its position in shares of Camden National by 27.4% during the 4th quarter. Wells Fargo & Company MN now owns 8,641 shares of the financial services provider's stock worth $369,000 after buying an additional 1,859 shares during the period. Invesco Ltd. grew its position in shares of Camden National by 8.0% during the 4th quarter. Invesco Ltd. now owns 35,511 shares of the financial services provider's stock worth $1,518,000 after buying an additional 2,624 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Camden National during the 4th quarter worth about $210,000. First Trust Advisors LP grew its position in shares of Camden National by 4.9% during the 4th quarter. First Trust Advisors LP now owns 9,248 shares of the financial services provider's stock worth $395,000 after buying an additional 431 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Camden National by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 858,979 shares of the financial services provider's stock worth $36,713,000 after buying an additional 15,822 shares during the period. 77.41% of the stock is currently owned by institutional investors and hedge funds.

Camden National Stock Down 1.3%

NASDAQ CAC traded down $0.52 during trading on Tuesday, hitting $40.37. The stock had a trading volume of 44,087 shares, compared to its average volume of 60,480. The company has a market capitalization of $683.06 million, a PE ratio of 12.78 and a beta of 0.67. The company's 50-day moving average price is $40.39 and its two-hundred day moving average price is $40.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.81. Camden National Corporation has a 12 month low of $34.53 and a 12 month high of $50.07.

Camden National (NASDAQ:CAC - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $0.89 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.23). The firm had revenue of $69.82 million during the quarter, compared to the consensus estimate of $61.04 million. Camden National had a net margin of 14.77% and a return on equity of 10.19%. As a group, sell-side analysts forecast that Camden National Corporation will post 4.25 EPS for the current year.

Camden National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were paid a dividend of $0.42 per share. The ex-dividend date was Tuesday, July 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.2%. Camden National's dividend payout ratio is currently 53.16%.

Analyst Ratings Changes

Several brokerages recently issued reports on CAC. Wall Street Zen began coverage on Camden National in a research report on Monday, May 19th. They issued a "hold" rating for the company. Keefe, Bruyette & Woods decreased their price objective on Camden National from $48.00 to $47.00 and set a "market perform" rating for the company in a research report on Wednesday, May 7th. Zacks Research upgraded Camden National to a "hold" rating in a research report on Tuesday, August 12th. Finally, Stephens upgraded Camden National from an "equal weight" rating to an "overweight" rating and decreased their price objective for the company from $49.00 to $44.00 in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $48.00.

Camden National Company 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.