Globeflex Capital L P Acquires Shares of 19,051 Camden National Corporation $CAC

Globeflex Capital L P bought a new position in Camden National Corporation (NASDAQ:CAC - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 19,051 shares of the financial services provider's stock, valued at approximately $1,033,000. Globeflex Capital L P owned about 0.11% of Camden National as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. purchased a new stake in Camden National during the second quarter valued at approximately $120,000. Ieq Capital LLC bought a new stake in shares of Camden National in the 2nd quarter valued at approximately $422,000. Vise Technologies Inc. purchased a new position in shares of Camden National in the 2nd quarter worth approximately $483,000. BlackRock Inc. purchased a new position in shares of Camden National in the 2nd quarter worth approximately $96,659,000. Finally, Deutsche Bank AG bought a new position in shares of Camden National during the 2nd quarter valued at approximately $949,000. Institutional investors own 77.41% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. National Bank Financial set a $55.00 price target on Camden National in a research report on Thursday, July 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Camden National in a research report on Tuesday, June 9th. Raymond James Financial increased their target price on shares of Camden National from $56.00 to $58.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Camden National from $50.00 to $55.00 and gave the stock a "market perform" rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Camden National has a consensus rating of "Hold" and a consensus price target of $55.25.

Camden National Trading Up 0.4%

CAC opened at $56.88 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.82 and a current ratio of 0.82. The stock's 50 day moving average price is $55.44 and its 200-day moving average price is $51.08. Camden National Corporation has a one year low of $35.00 and a one year high of $60.59. The stock has a market cap of $961.27 million, a price-to-earnings ratio of 10.90 and a beta of 0.55.

Camden National (NASDAQ:CAC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.06. Camden National had a return on equity of 12.59% and a net margin of 23.64%.The company had revenue of $67.41 million during the quarter, compared to analysts' expectations of $66.41 million. On average, equities analysts forecast that Camden National Corporation will post 5.43 EPS for the current year.

Camden National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Wednesday, July 15th. Camden National's dividend payout ratio (DPR) is 32.18%.

Camden National Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source