Globeflex Capital L P Boosts Stock Position in Camden National Corporation $CAC

Globeflex Capital L P lifted its position in shares of Camden National Corporation (NASDAQ:CAC) by 87.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,948 shares of the financial services provider’s stock after purchasing an additional 13,486 shares during the period. Globeflex Capital L P owned 0.17% of Camden National worth $1,256,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CAC. Russell Investments Group Ltd. boosted its holdings in shares of Camden National by 13,790.0% during the third quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 1,379 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Camden National during the third quarter worth about $58,000. Nisa Investment Advisors LLC boosted its holdings in shares of Camden National by 15,220.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,532 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,522 shares during the period. Aquatic Capital Management LLC boosted its holdings in shares of Camden National by 33.5% during the third quarter. Aquatic Capital Management LLC now owns 3,153 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 791 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Camden National in the fourth quarter worth about $126,000. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. National Bank Financial set a $50.00 price objective on shares of Camden National in a report on Wednesday, April 29th. Weiss Ratings upgraded shares of Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 19th. Stephens restated an “equal weight” rating and issued a $53.00 price objective on shares of Camden National in a report on Thursday, February 5th. Keefe, Bruyette & Woods raised their price objective on shares of Camden National from $47.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, April 29th. Finally, Raymond James Financial restated an “outperform” rating and issued a $56.00 price objective on shares of Camden National in a report on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Camden National has a consensus rating of “Hold” and an average price target of $52.25.

Camden National Stock Performance

Shares of CAC opened at $50.38 on Friday. The company has a 50-day simple moving average of $49.10 and a two-hundred day simple moving average of $46.69. Camden National Corporation has a one year low of $35.00 and a one year high of $53.71. The firm has a market capitalization of $852.18 million, a PE ratio of 10.72 and a beta of 0.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.82.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. Camden National had a net margin of 21.32% and a return on equity of 11.78%. The firm had revenue of $64.34 million during the quarter, compared to analyst estimates of $65.57 million. On average, analysts anticipate that Camden National Corporation will post 5.39 EPS for the current fiscal year.

Camden National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Wednesday, April 15th. Camden National’s dividend payout ratio (DPR) is presently 35.74%.

Camden National 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.