State Street Corp Sells 2,633 Shares of Camden National Co. (NASDAQ:CAC)

State Street Corp trimmed its holdings in shares of Camden National Co. (NASDAQ:CAC) by 0.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 419,361 shares of the financial services provider’s stock after selling 2,633 shares during the period. State Street Corp owned approximately 2.88% of Camden National worth $17,328,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Camden National during the second quarter worth approximately $73,000. SG Americas Securities LLC increased its stake in Camden National by 58.1% during the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 2,602 shares in the last quarter. Inspire Investing LLC acquired a new position in Camden National during the second quarter worth $349,000. US Bancorp DE lifted its stake in shares of Camden National by 2.9% in the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after buying an additional 319 shares in the last quarter. Finally, Coston McIsaac & Partners grew its holdings in shares of Camden National by 18.6% during the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock valued at $480,000 after buying an additional 1,819 shares during the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

Analyst Ratings Changes

CAC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com began coverage on Camden National in a report on Wednesday, December 18th. They set a “hold” rating for the company. Finally, Raymond James upgraded Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Friday, December 20th.

Camden National Price Performance

CAC opened at $42.99 on Wednesday. Camden National Co. has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. The firm has a 50-day moving average of $45.10 and a 200 day moving average of $39.86. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $626.67 million, a P/E ratio of 13.43 and a beta of 0.75.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping 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 company had revenue of $75.13 million during the quarter, compared to analyst estimates of $43.90 million. During the same quarter last year, the business posted $0.96 EPS. On average, research analysts expect that Camden National Co. will post 3.49 EPS for the current year.

Camden National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.68 annualized dividend and a yield of 3.91%. Camden National’s dividend payout ratio is currently 52.50%.

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.