Camden National Corporation $CAC Stock: Kimelman & Baird LLC Trims Holdings

Key Points

• Kimelman & Baird cut its Camden National stake by 26.4% in the third quarter, selling 36,287 shares; it retained 101,002 shares valued at about $5.59 million. Institutional investors collectively own 77.41% of the company.
• Camden National reported quarterly EPS of $1.34, matching estimates, while revenue of $68.67 million topped the $67.91 million consensus. It paid a $0.42 quarterly dividend, equivalent to a 2.9% annualized yield.
• Analyst opinion is mixed: the stock carries an average “Hold” rating and a $56 price target, with two Buy, three Hold, and one Sell rating.

Kimelman & Baird LLC cut its stake in shares of Camden National Corporation (NASDAQ:CAC - Free Report) by 26.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,002 shares of the financial services provider's stock after selling 36,287 shares during the quarter. Kimelman & Baird LLC owned 0.60% of Camden National worth $5,590,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAC. Ethic Inc. acquired a new stake in Camden National in the third quarter valued at approximately $215,000. Alps Advisors Inc. bought a new stake in shares of Camden National during the third quarter worth $551,000. Vise Technologies Inc. increased its holdings in shares of Camden National by 10.0% during the third quarter. Vise Technologies Inc. now owns 9,796 shares of the financial services provider's stock worth $542,000 after buying an additional 894 shares in the last quarter. Ledyard National Bank increased its holdings in shares of Camden National by 601.3% during the third quarter. Ledyard National Bank now owns 53,718 shares of the financial services provider's stock worth $2,973,000 after buying an additional 46,058 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Camden National during the second quarter worth $470,000. 77.41% of the stock is owned by institutional investors.

Camden National Trading Up 0.2%

NASDAQ CAC opened at $58.02 on Friday. The business's 50-day moving average price is $57.14 and its two-hundred day moving average price is $52.50. Camden National Corporation has a 12 month low of $37.87 and a 12 month high of $60.99. The firm has a market capitalization of $980.36 million, a PE ratio of 10.93 and a beta of 0.58. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CAC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.34. Camden National had a return on equity of 12.71% and a net margin of 24.16%. The company had revenue of $68.67 million during the quarter, compared to the consensus estimate of $67.91 million. On average, analysts expect that Camden National Corporation will post 5.33 EPS for the current year.

Camden National Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Thursday, October 15th were issued a $0.42 dividend. The ex-dividend date was Thursday, October 15th. This represents a $1.68 annualized dividend and a yield of 2.9%. Camden National's dividend payout ratio is presently 31.64%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CAC. National Bank Financial set a $58.00 price target on Camden National in a research note on Wednesday, October 28th. Weiss Ratings upgraded Camden National from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, October 8th. Keefe, Bruyette & Woods boosted their price objective on Camden National from $50.00 to $55.00 and gave the stock a "market perform" rating in a research report on Thursday, July 30th. Zacks Research cut Camden National from a "hold" rating to a "strong sell" rating in a report on Friday, October 30th. Finally, Hovde Group began coverage on Camden National in a research report on Tuesday, September 15th. They issued a "hold" rating for the company. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Camden National has an average rating of "Hold" and an average price target of $56.00.

Camden National Profile

Camden National Corporation NASDAQ: CAC is a bank holding company headquartered in Camden, Maine. Through its principal subsidiary, Camden National Bank, the company provides banking and financial services to individuals, families, businesses and municipalities primarily across Maine.

Camden National Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, cash-management services and digital banking. Its offerings also include wealth management, trust and investment services designed to support customers with financial planning and asset management needs.

Founded in 1875, Camden National has developed a community-banking model supported by branches and banking offices throughout Maine.

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