Dean Capital Management Purchases 20,233 Shares of Camden National Corporation $CAC

Dean Capital Management grew its position in shares of Camden National Corporation (NASDAQ:CAC) by 106.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,251 shares of the financial services provider’s stock after acquiring an additional 20,233 shares during the quarter. Dean Capital Management owned 0.23% of Camden National worth $1,703,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CAC. Mercer Global Advisors Inc. ADV raised its holdings in shares of Camden National by 21.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,453 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 1,136 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in Camden National during the fourth quarter worth $238,000. NewEdge Advisors LLC acquired a new position in Camden National during the fourth quarter worth $414,000. Wellington Management Group LLP grew its position in Camden National by 70.4% in the fourth quarter. Wellington Management Group LLP now owns 220,382 shares of the financial services provider’s stock valued at $9,560,000 after purchasing an additional 91,018 shares in the last quarter. Finally, Occudo Quantitative Strategies LP grew its position in Camden National by 11.4% in the fourth quarter. Occudo Quantitative Strategies LP now owns 6,194 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 633 shares in the last quarter. 77.41% of the stock is owned by institutional investors.

Camden National Price Performance

Shares of CAC opened at $51.49 on Friday. The company has a market cap of $871.21 million, a price-to-earnings ratio of 10.96 and a beta of 0.56. Camden National Corporation has a 1-year low of $35.00 and a 1-year high of $53.71. The company’s fifty day simple moving average is $49.87 and its 200 day simple moving average is $47.53. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $65.57 million. On average, research analysts forecast that Camden National Corporation will post 5.39 earnings per share for the current fiscal year.

Camden National Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have issued reports on CAC shares. National Bank Financial set a $50.00 price target on shares of Camden National in a research note on Wednesday, April 29th. 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. Keefe, Bruyette & Woods lifted their target price on Camden National from $47.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Camden National in a report on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Camden National presently has an average rating of “Hold” and a consensus target price of $52.25.

About Camden National

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.