JPMorgan Chase & Co. Purchases 13,849 Shares of Camden National Corporation $CAC

JPMorgan Chase & Co. increased its position in shares of Camden National Corporation (NASDAQ:CAC) by 4.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 311,170 shares of the financial services provider’s stock after purchasing an additional 13,849 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.84% of Camden National worth $12,008,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Camden National by 9.6% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 3,825 shares of the financial services provider’s stock worth $155,000 after buying an additional 335 shares during the last quarter. Bryn Mawr Trust Advisors LLC boosted its position in Camden National by 6.7% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 6,161 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 386 shares during the last quarter. Hantz Financial Services Inc. grew its stake in Camden National by 3.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 20,797 shares of the financial services provider’s stock valued at $803,000 after purchasing an additional 605 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Camden National during the 3rd quarter valued at $26,000. Finally, First Trust Advisors LP raised its stake in shares of Camden National by 6.4% during the 2nd quarter. First Trust Advisors LP now owns 11,235 shares of the financial services provider’s stock worth $456,000 after purchasing an additional 678 shares during the period. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CAC. Weiss Ratings upgraded shares of Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 19th. Stephens restated an “equal weight” rating and set a $53.00 price target on shares of Camden National in a research note on Thursday, February 5th. National Bank Financial set a $47.00 price objective on Camden National in a research note on Wednesday, January 28th. Finally, Keefe, Bruyette & Woods increased their price objective on Camden National from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Wednesday, January 28th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $49.00.

Camden National Stock Down 2.4%

Camden National stock opened at $46.11 on Friday. The firm has a 50 day simple moving average of $46.88 and a 200 day simple moving average of $42.46. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. Camden National Corporation has a 1-year low of $34.53 and a 1-year high of $51.57. The firm has a market capitalization of $780.18 million, a price-to-earnings ratio of 12.01 and a beta of 0.66.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.01. The firm had revenue of $68.05 million during the quarter, compared to analyst estimates of $66.40 million. Camden National had a return on equity of 11.39% and a net margin of 17.46%. On average, analysts predict that Camden National Corporation will post 4.25 earnings per share for the current year.

Camden National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Thursday, January 15th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, January 15th. Camden National’s payout ratio is presently 43.75%.

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.