Delphi Management Inc. MA Buys Shares of 12,295 Camden National Co. (NASDAQ:CAC)

Delphi Management Inc. MA acquired a new position in shares of Camden National Co. (NASDAQ:CAC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,295 shares of the financial services provider's stock, valued at approximately $498,000. Delphi Management Inc. MA owned approximately 0.07% of Camden National at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aquatic Capital Management LLC purchased a new stake in shares of Camden National during the 4th quarter worth approximately $44,000. Federated Hermes Inc. purchased a new stake in shares of Camden National during the 4th quarter worth approximately $46,000. Nisa Investment Advisors LLC increased its stake in shares of Camden National by 18,500.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider's stock worth $79,000 after purchasing an additional 1,850 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Camden National during the 4th quarter worth approximately $103,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Camden National during the 4th quarter worth approximately $106,000. Institutional investors own 77.41% of the company's stock.

Analyst Ratings Changes

CAC has been the subject of several research analyst reports. Wall Street Zen initiated coverage on shares of Camden National in a research note on Monday, May 19th. They set a "hold" rating for the company. Keefe, Bruyette & Woods cut their price objective on shares of Camden National from $48.00 to $47.00 and set a "market perform" rating for the company in a report on Wednesday, May 7th.

Camden National Stock Performance

CAC traded down $0.41 on Monday, hitting $38.93. The company's stock had a trading volume of 43,181 shares, compared to its average volume of 69,033. The company's 50 day simple moving average is $39.14 and its 200-day simple moving average is $42.36. The firm has a market cap of $657.37 million, a P/E ratio of 10.75 and a beta of 0.64. Camden National Co. has a 12 month low of $30.78 and a 12 month high of $50.07. 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 (NASDAQ:CAC - Get Free Report) last posted 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 company had revenue of $60.05 million for the quarter, compared to the consensus estimate of $57.63 million. Camden National had a return on equity of 10.38% and a net margin of 18.02%. Analysts forecast that Camden National Co. will post 4.25 EPS for the current year.

Camden National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.32%. The ex-dividend date was Tuesday, April 15th. Camden National's payout ratio is currently 53.50%.

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.