SG Americas Securities LLC Grows Stake in Camden National Co. (NASDAQ:CAC)

SG Americas Securities LLC increased its stake in Camden National Co. (NASDAQ:CAC) by 58.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,077 shares of the financial services provider’s stock after buying an additional 2,602 shares during the quarter. SG Americas Securities LLC’s holdings in Camden National were worth $292,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of CAC. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Camden National in the second quarter valued at about $73,000. BNP Paribas Financial Markets grew its stake in shares of Camden National by 89.3% in the first quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock valued at $237,000 after buying an additional 3,330 shares in the last quarter. Inspire Investing LLC acquired a new stake in shares of Camden National in the second quarter valued at about $349,000. Price T Rowe Associates Inc. MD boosted its holdings in Camden National by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 4,907 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new position in Camden National in the second quarter valued at about $578,000. Institutional investors and hedge funds own 77.41% of the company’s stock.

Camden National Trading Down 2.3 %

NASDAQ:CAC opened at $41.97 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average is $39.31 and its two-hundred day moving average is $35.38. Camden National Co. has a 52 week low of $26.52 and a 52 week high of $43.50. The company has a market cap of $613.06 million, a PE ratio of 13.94 and a beta of 0.72.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.10. Camden National had a return on equity of 10.36% and a net margin of 16.01%. The company had revenue of $72.81 million for the quarter, compared to the consensus estimate of $41.07 million. During the same quarter last year, the business posted $0.85 EPS. On average, analysts predict that Camden National Co. will post 3.34 EPS for the current year.

Camden National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Tuesday, October 15th. Camden National’s dividend payout ratio is presently 55.81%.

Analyst Ratings Changes

CAC has been the subject of a number of analyst reports. Stephens increased their price target on Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. StockNews.com initiated coverage on Camden National in a report on Tuesday, October 15th. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods increased their price target on Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a report on Wednesday, September 11th.

Camden National Profile

Camden National Corporation operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers in Maine, New Hampshire, and Massachusetts. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system.