US Bancorp DE Boosts Holdings in Camden National Co. (NASDAQ:CAC)

US Bancorp DE increased its holdings in Camden National Co. (NASDAQ:CAC) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,474 shares of the financial services provider’s stock after buying an additional 308 shares during the quarter. US Bancorp DE owned 0.08% of Camden National worth $490,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CAC. Bryn Mawr Capital Management LLC purchased a new position in Camden National during the fourth quarter valued at approximately $6,811,000. JPMorgan Chase & Co. raised its position in shares of Camden National by 53.6% during the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock valued at $11,731,000 after buying an additional 99,097 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Camden National during the third quarter valued at approximately $1,729,000. Dean Investment Associates LLC raised its position in shares of Camden National by 36.8% during the third quarter. Dean Investment Associates LLC now owns 65,557 shares of the financial services provider’s stock valued at $2,709,000 after buying an additional 17,632 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Camden National during the third quarter valued at approximately $659,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Camden National Trading Up 1.4 %

Shares of CAC opened at $40.87 on Thursday. The company’s fifty day moving average is $43.62 and its 200 day moving average is $43.06. Camden National Co. has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. The stock has a market capitalization of $595.76 million, a PE ratio of 11.29 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same quarter in the previous year, the business earned $0.85 EPS. Sell-side analysts expect that Camden National Co. will post 4.25 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Wednesday, January 15th. Camden National’s dividend payout ratio (DPR) is 46.41%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CAC shares. Keefe, Bruyette & Woods lifted their price objective on shares of Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th. Raymond James reiterated an “outperform” rating and set a $53.00 price objective (up previously from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. Finally, StockNews.com started coverage on shares of Camden National in a research report on Saturday, March 8th. They set a “hold” rating on the stock.

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.