Noesis Capital Mangement Corp Makes New Investment in Camden National Corporation (NASDAQ:CAC)

Noesis Capital Mangement Corp bought a new position in shares of Camden National Corporation (NASDAQ:CAC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 12,826 shares of the financial services provider's stock, valued at approximately $519,000. Noesis Capital Mangement Corp owned 0.08% of Camden National at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Federated Hermes Inc. bought a new position in shares of Camden National in the fourth quarter valued at approximately $46,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Camden National by 0.6% in 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 purchasing an additional 721 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Camden National by 41.7% in the fourth quarter. Deutsche Bank AG now owns 9,251 shares of the financial services provider's stock valued at $395,000 after purchasing an additional 2,724 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Camden National by 12,735.9% in the first quarter. GAMMA Investing LLC now owns 8,215 shares of the financial services provider's stock valued at $332,000 after purchasing an additional 8,151 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Camden National by 4.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,264 shares of the financial services provider's stock worth $353,000 after acquiring an additional 330 shares during the period. Institutional investors and hedge funds own 77.41% of the company's stock.

Analysts Set New Price Targets

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

Camden National Stock Up 0.1%

Shares of Camden National stock traded up $0.05 during midday trading on Friday, hitting $41.00. The company had a trading volume of 55,716 shares, compared to its average volume of 76,244. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $692.33 million, a P/E ratio of 13.06 and a beta of 0.63. The company has a 50 day moving average of $40.69 and a 200 day moving average of $41.23. Camden National Corporation has a 52-week low of $34.53 and a 52-week high of $50.07.

Camden National (NASDAQ:CAC - Get Free Report) last issued its earnings results on Tuesday, May 6th. The financial services provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.04). Camden National had a net margin of 15.03% and a return on equity of 10.28%. The business had revenue of $60.05 million for the quarter, compared to analysts' expectations of $57.63 million. On average, equities analysts predict that Camden National Corporation will post 4.25 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be paid a dividend of $0.42 per share. The ex-dividend date is Tuesday, July 15th. This represents a $1.68 annualized dividend and a yield of 4.10%. Camden National's dividend payout ratio is 53.50%.

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.