Bar Harbor Wealth Management Buys Shares of 14,530 Camden National Co. (NASDAQ:CAC)

Bar Harbor Wealth Management bought a new position in shares of Camden National Co. (NASDAQ:CAC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 14,530 shares of the financial services provider's stock, valued at approximately $588,000. Bar Harbor Wealth Management owned about 0.09% of Camden National as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in CAC. Franklin Resources Inc. raised its stake 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 purchasing an additional 90,485 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Camden National by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 858,979 shares of the financial services provider's stock valued at $36,713,000 after purchasing an additional 15,822 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Camden National by 12.6% during the 4th quarter. JPMorgan Chase & Co. now owns 319,794 shares of the financial services provider's stock worth $13,668,000 after buying an additional 35,883 shares during the period. Renaissance Technologies LLC grew its stake in shares of Camden National by 2.7% in the fourth quarter. Renaissance Technologies LLC now owns 289,800 shares of the financial services provider's stock worth $12,386,000 after purchasing an additional 7,500 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Camden National by 0.7% in the fourth quarter. American Century Companies Inc. now owns 206,804 shares of the financial services provider's stock valued at $8,839,000 after buying an additional 1,508 shares during the period. Institutional investors own 77.41% of the company's stock.

Camden National Stock Performance

Camden National stock traded down $1.22 during mid-day trading on Friday, reaching $38.70. 68,030 shares of the company's stock were exchanged, compared to its average volume of 69,657. The business's fifty day simple moving average is $39.20 and its 200 day simple moving average is $41.86. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National Co. has a one year low of $30.78 and a one year high of $50.07. The firm has a market capitalization of $653.49 million, a PE ratio of 10.69 and a beta of 0.63.

Camden National (NASDAQ:CAC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.99 by ($0.04). The firm had revenue of $60.05 million during the quarter, compared to the consensus estimate of $57.63 million. Camden National had a net margin of 18.02% and a return on equity of 10.38%. On average, sell-side analysts expect that Camden National Co. will post 4.25 earnings per share for the current year.

Camden National Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date was Tuesday, April 15th. Camden National's payout ratio is presently 53.50%.

Analysts Set New Price Targets

CAC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of Camden National from $48.00 to $47.00 and set a "market perform" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen initiated coverage on shares of Camden National in a report on Monday, May 19th. They set a "hold" rating on the stock.

About Camden National

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.