Dean Capital Management Has $2.94 Million Position in Camden National Corporation $CAC

Key Points

• Dean Capital Management increased its Camden National stake by 57.7% in the first quarter, bringing its holdings to 61,881 shares worth approximately $2.94 million. Institutional investors and hedge funds collectively own 77.41% of the company.
• Camden National reported quarterly EPS of $1.29, exceeding the $1.26 consensus estimate, while revenue of $64.34 million fell short of expectations. The stock recently traded at $54.63, near its 12-month high of $56.22.
• The company declared a quarterly dividend of $0.42 per share, equivalent to $1.68 annually and a 3.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $52.75.

Dean Capital Management grew its holdings in shares of Camden National Corporation (NASDAQ:CAC - Free Report) by 57.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,881 shares of the financial services provider's stock after buying an additional 22,630 shares during the quarter. Camden National makes up 1.2% of Dean Capital Management's portfolio, making the stock its 16th largest position. Dean Capital Management owned about 0.37% of Camden National worth $2,936,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sei Investments Co. grew its holdings in shares of Camden National by 85.5% in the 1st quarter. Sei Investments Co. now owns 17,665 shares of the financial services provider's stock valued at $838,000 after acquiring an additional 8,143 shares in the last quarter. Globeflex Capital L P raised its holdings in Camden National by 35.5% during the first quarter. Globeflex Capital L P now owns 39,232 shares of the financial services provider's stock worth $1,862,000 after acquiring an additional 10,284 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Camden National by 106.1% during the first quarter. PNC Financial Services Group Inc. now owns 878 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 452 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Camden National by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 830,350 shares of the financial services provider's stock valued at $39,400,000 after purchasing an additional 8,205 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in Camden National by 114.5% during the first quarter. Parallel Advisors LLC now owns 1,950 shares of the financial services provider's stock valued at $93,000 after purchasing an additional 1,041 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors and hedge funds.

Camden National Price Performance

Shares of NASDAQ CAC opened at $54.63 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. The business's 50 day moving average price is $52.17 and its two-hundred day moving average price is $49.32. The company has a market cap of $924.07 million, a PE ratio of 11.62 and a beta of 0.55. Camden National Corporation has a twelve month low of $35.00 and a twelve month high of $56.22.

Camden National (NASDAQ:CAC - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.03. Camden National had a return on equity of 11.78% and a net margin of 21.32%.The company had revenue of $64.34 million during the quarter, compared to analysts' expectations of $65.57 million. On average, analysts predict that Camden National Corporation will post 5.37 EPS for the current year.

Camden National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Wednesday, July 15th. Camden National's dividend payout ratio is 35.74%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Raymond James Financial boosted their price target on Camden National from $56.00 to $58.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. National Bank Financial set a $50.00 price objective on Camden National in a report on Wednesday, April 29th. Weiss Ratings reissued a "buy (b)" rating on shares of Camden National in a research note on Tuesday, June 9th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Camden National from $47.00 to $50.00 and gave the stock a "market perform" rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $52.75.

Camden National Profile

Camden National Corporation is a bank holding company headquartered in Camden, Maine. Through its primary subsidiary, Camden National Bank, the company provides a full range of community banking services to individuals and businesses. Its branch network spans much of the State of Maine, with a concentration in the midcoast, central and southern regions.

The company's offerings include deposit products such as checking, savings and money market accounts, along with consumer and commercial lending services.

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