14,320 Shares in Camden National Corporation $CAC Bought by Sheets Smith Wealth Management

Sheets Smith Wealth Management bought a new stake in shares of Camden National Corporation (NASDAQ:CAC) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,320 shares of the financial services provider’s stock, valued at approximately $679,000. Sheets Smith Wealth Management owned 0.08% of Camden National at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in shares of Camden National by 7.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,559,400 shares of the financial services provider’s stock valued at $60,177,000 after buying an additional 113,221 shares during the last quarter. State Street Corp boosted its stake in shares of Camden National by 0.4% in the fourth quarter. State Street Corp now owns 475,268 shares of the financial services provider’s stock worth $20,617,000 after buying an additional 1,852 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Camden National by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 311,170 shares of the financial services provider’s stock worth $12,008,000 after acquiring an additional 13,849 shares during the period. Wellington Management Group LLP raised its position in Camden National by 70.4% during 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 acquiring an additional 91,018 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Camden National by 98.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 120,062 shares of the financial services provider’s stock valued at $5,208,000 after acquiring an additional 59,479 shares in the last quarter. 77.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on CAC shares. Weiss Ratings restated a “buy (b)” rating on shares of Camden National in a research report on Tuesday, June 9th. Keefe, Bruyette & Woods boosted their target price on shares of Camden National from $47.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, April 29th. National Bank Financial set a $50.00 price target on shares of Camden National in a report on Wednesday, April 29th. Finally, Raymond James Financial reissued an “outperform” rating and set a $56.00 price target 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 issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $52.25.

Camden National Price Performance

Camden National stock opened at $51.49 on Monday. The stock has a market capitalization of $871.21 million, a PE ratio of 10.96 and a beta of 0.57. Camden National Corporation has a 12 month low of $35.00 and a 12 month high of $53.71. The business has a 50 day simple moving average of $49.89 and a 200-day simple moving average of $47.60. 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 announced its earnings results on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. Camden National had a return on equity of 11.78% and a net margin of 21.32%.The firm had revenue of $64.34 million for 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, April 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.3%. Camden National’s dividend payout ratio is currently 35.74%.

Camden National Company 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.