Bar Harbor Wealth Management Invests $588,000 in Camden National Corporation (NASDAQ:CAC)

Bar Harbor Wealth Management acquired a new position in shares of Camden National Corporation (NASDAQ:CAC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 14,530 shares of the financial services provider's stock, valued at approximately $588,000. Bar Harbor Wealth Management owned 0.09% of Camden National as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC increased its holdings in Camden National by 38.9% during the third quarter. Barclays PLC now owns 48,339 shares of the financial services provider's stock valued at $1,998,000 after buying an additional 13,542 shares during the period. Federated Hermes Inc. purchased a new position in shares of Camden National in the 4th quarter valued at $46,000. Rhumbline Advisers raised its position in shares of Camden National by 1.8% in the 4th quarter. Rhumbline Advisers now owns 23,204 shares of the financial services provider's stock worth $992,000 after acquiring an additional 415 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Camden National by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 118,716 shares of the financial services provider's stock valued at $5,074,000 after purchasing an additional 721 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in Camden National by 41.7% during the fourth quarter. Deutsche Bank AG now owns 9,251 shares of the financial services provider's stock valued at $395,000 after purchasing an additional 2,724 shares in the last quarter. 77.41% of the stock is owned by institutional investors.

Camden National Stock Performance

NASDAQ:CAC traded down $0.50 during trading hours on Tuesday, hitting $38.09. 47,919 shares of the company were exchanged, compared to its average volume of 69,649. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. Camden National Corporation has a 52-week low of $31.02 and a 52-week high of $50.07. The stock has a market capitalization of $643.34 million, a price-to-earnings ratio of 12.13 and a beta of 0.63. The company's 50 day moving average price is $39.23 and its 200-day moving average price is $41.73.

Camden National (NASDAQ:CAC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.95 EPS 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 company had revenue of $60.05 million for the quarter, compared to analyst estimates of $57.63 million. As a group, research analysts forecast that Camden National Corporation will post 4.25 earnings per share for the current year.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $1.68 annualized dividend and a yield of 4.41%. Camden National's payout ratio is presently 53.50%.

Analyst Ratings Changes

Several brokerages have recently commented on CAC. Wall Street Zen started coverage on Camden National in a report on Monday, May 19th. They set a "hold" rating for the company. Keefe, Bruyette & Woods reduced their target price on Camden National from $48.00 to $47.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th.

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.