Segall Bryant & Hamill LLC Boosts Stock Holdings in Camden National Corporation (NASDAQ:CAC)

Segall Bryant & Hamill LLC grew its stake in Camden National Corporation (NASDAQ:CAC - Free Report) by 15.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,229 shares of the financial services provider's stock after acquiring an additional 6,376 shares during the period. Segall Bryant & Hamill LLC owned 0.29% of Camden National worth $1,952,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Franklin Resources Inc. raised its stake in shares of Camden National by 7.4% during the fourth quarter. Franklin Resources Inc. now owns 1,311,526 shares of the financial services provider's stock worth $56,055,000 after buying an additional 90,485 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Camden National in the fourth quarter valued at approximately $1,727,000. JPMorgan Chase & Co. boosted its holdings in shares of Camden National by 12.6% in the fourth quarter. JPMorgan Chase & Co. now owns 319,794 shares of the financial services provider's stock valued at $13,668,000 after buying an additional 35,883 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Camden National by 38.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 88,493 shares of the financial services provider's stock valued at $3,782,000 after buying an additional 24,676 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Camden National by 214.9% in the fourth quarter. Teacher Retirement System of Texas now owns 27,973 shares of the financial services provider's stock valued at $1,196,000 after buying an additional 19,090 shares during the period. 77.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Camden National from $48.00 to $47.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen began coverage on shares of Camden National in a research report on Monday, May 19th. They issued a "hold" rating on the stock.

Camden National Price Performance

Shares of CAC traded down $0.16 during mid-day trading on Friday, reaching $42.27. The company had a trading volume of 62,557 shares, compared to its average volume of 69,319. The company's 50 day simple moving average is $40.65 and its 200 day simple moving average is $41.23. Camden National Corporation has a 1-year low of $34.53 and a 1-year 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. The company has a market capitalization of $713.94 million, a price-to-earnings ratio of 13.46 and a beta of 0.63.

Camden National (NASDAQ:CAC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate 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 10.28% and a net margin of 15.03%. Analysts expect that Camden National Corporation will post 4.25 EPS for the current year.

Camden National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be issued 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 3.97%. Camden National's 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.