40,603 Shares in Camden National Corporation $CAC Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in Camden National Corporation, purchasing 40,603 shares valued at approximately $1.64 million, making up about 0.24% of the company.
• Several institutional investors, including MIRAE ASSET GLOBAL and CWM LLC, have increased their investments in Camden National, indicating strong interest in the stock.
• Camden National reported earnings of $0.89 per share for the last quarter, falling short of analysts' expectations, but has announced a quarterly dividend of $0.42 per share, reflecting a yield of 4.1%.

Nuveen LLC acquired a new position in Camden National Corporation (NASDAQ:CAC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 40,603 shares of the financial services provider's stock, valued at approximately $1,643,000. Nuveen LLC owned about 0.24% of Camden National as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CAC. CWM LLC grew its holdings in Camden National by 65.4% during the first quarter. CWM LLC now owns 837 shares of the financial services provider's stock worth $34,000 after acquiring an additional 331 shares during the period. Aquatic Capital Management LLC acquired a new stake in Camden National during the fourth quarter worth about $44,000. Eastern Bank acquired a new stake in Camden National during the first quarter worth about $50,000. Tower Research Capital LLC TRC grew its holdings in Camden National by 22.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,901 shares of the financial services provider's stock worth $124,000 after acquiring an additional 523 shares during the period. Finally, KLP Kapitalforvaltning AS grew its holdings in Camden National by 29.2% during the first quarter. KLP Kapitalforvaltning AS now owns 3,100 shares of the financial services provider's stock worth $125,000 after acquiring an additional 700 shares during the period. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on CAC shares. Keefe, Bruyette & Woods dropped their target price 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. Stephens raised Camden National from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $49.00 to $44.00 in a report on Wednesday, August 6th. Zacks Research raised Camden National to a "hold" rating in a report on Tuesday, August 12th. Finally, Wall Street Zen assumed coverage on Camden National in a report on Monday, May 19th. They issued a "hold" rating on the stock. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.00.

Camden National Price Performance

Shares of NASDAQ:CAC traded up $0.67 during trading on Thursday, reaching $41.02. The stock had a trading volume of 63,265 shares, compared to its average volume of 56,999. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.81. The business has a fifty day moving average price of $40.41 and a 200-day moving average price of $40.17. The stock has a market cap of $694.06 million, a PE ratio of 12.98 and a beta of 0.67. Camden National Corporation has a 1-year low of $34.53 and a 1-year high of $50.07.

Camden National (NASDAQ:CAC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.12 by ($0.23). Camden National had a return on equity of 10.19% and a net margin of 14.77%.The firm had revenue of $69.82 million during the quarter, compared to analyst estimates of $61.04 million. On average, equities analysts forecast that Camden National Corporation will post 4.25 earnings per share for the current fiscal year.

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were given a dividend of $0.42 per share. The ex-dividend date was Tuesday, July 15th. This represents a $1.68 dividend on an annualized basis and a yield of 4.1%. Camden National's dividend payout ratio (DPR) is presently 53.16%.

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.