GAMMA Investing LLC Has $332,000 Holdings in Camden National Corporation (NASDAQ:CAC)

GAMMA Investing LLC lifted its stake in shares of Camden National Corporation (NASDAQ:CAC - Free Report) by 12,735.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,215 shares of the financial services provider's stock after acquiring an additional 8,151 shares during the quarter. GAMMA Investing LLC's holdings in Camden National were worth $332,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rhumbline Advisers grew its holdings in shares of Camden National by 1.8% during the fourth quarter. Rhumbline Advisers now owns 23,204 shares of the financial services provider's stock valued at $992,000 after buying an additional 415 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Camden National by 1.7% during the fourth quarter. Bank of New York Mellon Corp now owns 88,236 shares of the financial services provider's stock valued at $3,771,000 after buying an additional 1,515 shares in the last quarter. Bryn Mawr Capital Management LLC purchased a new position in shares of Camden National during the fourth quarter valued at $247,000. US Bancorp DE grew its holdings in shares of Camden National by 2.8% during the fourth quarter. US Bancorp DE now owns 11,474 shares of the financial services provider's stock valued at $490,000 after buying an additional 308 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of 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 buying an additional 721 shares in the last quarter. 77.41% of the stock is owned by institutional investors.

Camden National Stock Up 0.4%

Shares of Camden National stock traded up $0.15 during trading on Friday, hitting $38.57. 96,434 shares of the stock traded hands, compared to its average volume of 69,970. The stock has a market cap of $651.45 million, a P/E ratio of 12.28 and a beta of 0.63. The company has a fifty day moving average price of $39.31 and a two-hundred day moving average price of $41.56. Camden National Corporation has a twelve month low of $31.02 and a twelve month high of $50.07. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81.

Camden National (NASDAQ:CAC - Get Free Report) last posted its earnings results 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 business had revenue of $60.05 million during the quarter, compared to analyst estimates of $57.63 million. Camden National had a net margin of 15.03% and a return on equity of 10.28%. Equities research analysts predict that Camden National Corporation will post 4.25 EPS for the current fiscal year.

Camden National Announces Dividend

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 $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Tuesday, April 15th. Camden National's payout ratio is presently 53.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CAC. Wall Street Zen began coverage on Camden National in a report on Monday, May 19th. They set a "hold" rating on the stock. Keefe, Bruyette & Woods lowered their price target on Camden National from $48.00 to $47.00 and set a "market perform" rating on the stock in a report on Wednesday, May 7th.

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.