Globeflex Capital L P Raises Stock Holdings in Camden National Corporation $CAC

Globeflex Capital L P raised its stake in shares of Camden National Corporation (NASDAQ:CAC) by 35.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 39,232 shares of the financial services provider’s stock after purchasing an additional 10,284 shares during the quarter. Globeflex Capital L P’s holdings in Camden National were worth $1,862,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in CAC. UBS Group AG lifted its position in Camden National by 47.2% during the fourth quarter. UBS Group AG now owns 58,395 shares of the financial services provider’s stock valued at $2,533,000 after purchasing an additional 18,722 shares during the period. Sheets Smith Wealth Management bought a new stake in Camden National in the 1st quarter worth approximately $679,000. Northwestern Mutual Wealth Management Co. grew its position in Camden National by 2,802.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 64,348 shares of the financial services provider’s stock worth $2,791,000 after purchasing an additional 62,131 shares during the period. Dean Capital Management raised its stake in Camden National by 106.4% during the 4th quarter. Dean Capital Management now owns 39,251 shares of the financial services provider’s stock valued at $1,703,000 after buying an additional 20,233 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Camden National by 4.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 311,170 shares of the financial services provider’s stock valued at $12,008,000 after buying an additional 13,849 shares during the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Camden National Trading Down 1.1%

Shares of CAC stock opened at $53.63 on Thursday. Camden National Corporation has a 1 year low of $35.00 and a 1 year high of $56.22. The firm has a fifty day moving average price of $51.90 and a 200-day moving average price of $49.17. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $907.42 million, a price-to-earnings ratio of 11.41 and a beta of 0.55.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, April 28th. The financial services provider reported $1.29 EPS for the quarter, topping 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 company had revenue of $64.34 million for the quarter, compared to analysts’ expectations of $65.57 million. As a group, equities analysts predict that Camden National Corporation will post 5.37 earnings per share for the current year.

Camden National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a $0.42 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.1%. Camden National’s dividend payout ratio is presently 35.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CAC shares. Weiss Ratings reissued a “buy (b)” rating on shares of Camden National in a report on Tuesday, June 9th. National Bank Financial set a $50.00 price objective on Camden National in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods increased their target price on Camden National from $47.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, April 29th. Finally, Raymond James Financial raised their target price on Camden National from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $52.75.

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.