Fmr LLC Cuts Stake in Camden National Co. (NASDAQ:CAC)

Fmr LLC lessened its holdings in shares of Camden National Co. (NASDAQ:CAC) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,310,249 shares of the financial services provider’s stock after selling 2,892 shares during the period. Fmr LLC owned approximately 8.99% of Camden National worth $54,139,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CAC. Charles Schwab Investment Management Inc. raised its position in shares of Camden National by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock valued at $4,876,000 after purchasing an additional 674 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Camden National during the 3rd quarter valued at approximately $659,000. Segall Bryant & Hamill LLC purchased a new position in shares of Camden National in the third quarter worth $1,729,000. Empowered Funds LLC lifted its stake in shares of Camden National by 5.2% during the third quarter. Empowered Funds LLC now owns 37,892 shares of the financial services provider’s stock worth $1,566,000 after buying an additional 1,876 shares during the period. Finally, Apollon Wealth Management LLC grew its holdings in shares of Camden National by 3.0% during the third quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock valued at $1,258,000 after buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CAC. Keefe, Bruyette & Woods raised their target price on Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a research note on Wednesday. StockNews.com started coverage on Camden National in a research note on Monday, December 2nd. They issued a “hold” rating for the company.

Camden National Stock Down 0.5 %

NASDAQ:CAC opened at $46.55 on Friday. The firm has a market capitalization of $678.70 million, a P/E ratio of 14.55 and a beta of 0.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The company’s fifty day moving average price is $44.04 and its 200-day moving average price is $38.83. Camden National Co. has a 1-year low of $28.62 and a 1-year high of $50.07.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The business had revenue of $75.13 million during the quarter, compared to analyst estimates of $43.90 million. During the same quarter last year, the firm posted $0.96 earnings per share. As a group, equities research analysts anticipate that Camden National Co. will post 3.49 EPS for the current year.

Camden National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Tuesday, October 15th. Camden National’s dividend payout ratio is currently 52.50%.

Camden National Company 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.