Camden National Co. (NASDAQ:CAC) Position Reduced by Vanguard Group Inc.

Vanguard Group Inc. trimmed its holdings in Camden National Co. (NASDAQ:CAC - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 797,235 shares of the financial services provider's stock after selling 8,487 shares during the period. Vanguard Group Inc. owned about 5.47% of Camden National worth $34,074,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in Camden National by 53.6% during the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider's stock valued at $11,731,000 after buying an additional 99,097 shares in the last quarter. Barclays PLC raised its position in shares of Camden National by 38.9% during the 3rd quarter. Barclays PLC now owns 48,339 shares of the financial services provider's stock valued at $1,998,000 after acquiring an additional 13,542 shares in the last quarter. Geode Capital Management LLC lifted its stake in Camden National by 1.2% during the third quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider's stock worth $14,236,000 after purchasing an additional 4,067 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Camden National by 26.5% in the fourth quarter. SG Americas Securities LLC now owns 8,952 shares of the financial services provider's stock worth $383,000 after purchasing an additional 1,875 shares during the period. Finally, Rhumbline Advisers increased its stake in 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 purchasing an additional 415 shares during the last quarter. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAC has been the subject of several research reports. Raymond James reaffirmed an "outperform" rating and issued a $53.00 price target (up from $50.00) on shares of Camden National in a report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their target price on Camden National from $48.00 to $50.00 and gave the company a "market perform" rating in a report on Wednesday, January 29th. Finally, StockNews.com initiated coverage on Camden National in a report on Thursday. They issued a "hold" rating on the stock.

Camden National Stock Performance

NASDAQ:CAC traded up $0.32 during mid-day trading on Friday, hitting $37.74. The stock had a trading volume of 90,631 shares, compared to its average volume of 65,892. Camden National Co. has a 52 week low of $28.64 and a 52 week high of $50.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $637.28 million, a price-to-earnings ratio of 10.43 and a beta of 0.61. The company has a 50 day simple moving average of $40.87 and a 200-day simple moving average of $42.99.

Camden National (NASDAQ:CAC - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.14. Camden National had a return on equity of 10.38% and a net margin of 18.02%. During the same quarter in the prior year, the firm earned $0.85 earnings per share. On average, research analysts expect that Camden National Co. will post 4.25 earnings per share for the current fiscal year.

Camden National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend is Tuesday, April 15th. Camden National's dividend payout ratio (DPR) is 46.41%.

Camden National Profile

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.