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.
Read 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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