Quantbot Technologies LP Purchases New Stake in Camden National Co. (NASDAQ:CAC)

Quantbot Technologies LP acquired a new position in Camden National Co. (NASDAQ:CAC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,489 shares of the financial services provider’s stock, valued at approximately $106,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE lifted its stake in shares of Camden National by 2.8% in the 4th quarter. US Bancorp DE now owns 11,474 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 308 shares during the period. Rhumbline Advisers lifted its stake in Camden National by 1.8% in the fourth quarter. Rhumbline Advisers now owns 23,204 shares of the financial services provider’s stock valued at $992,000 after buying an additional 415 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Camden National by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock worth $4,876,000 after buying an additional 674 shares during the last quarter. Coston McIsaac & Partners grew its position in shares of Camden National by 11.8% during the 4th quarter. Coston McIsaac & Partners now owns 12,997 shares of the financial services provider’s stock worth $555,000 after buying an additional 1,376 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Camden National by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 88,236 shares of the financial services provider’s stock valued at $3,771,000 after acquiring an additional 1,515 shares during the last quarter. 77.41% of the stock is owned by institutional investors.

Camden National Price Performance

NASDAQ CAC opened at $40.47 on Tuesday. 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 stock has a market cap of $682.53 million, a price-to-earnings ratio of 11.18 and a beta of 0.73. The business has a 50 day simple moving average of $43.26 and a 200 day simple moving average of $43.31. Camden National Co. has a 52-week low of $28.62 and a 52-week high of $50.07.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the business earned $0.85 earnings per share. Analysts anticipate that Camden National Co. will post 4.25 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Tuesday, April 15th. Camden National’s dividend payout ratio is 46.41%.

Analyst Ratings Changes

Several research firms recently weighed in on CAC. Keefe, Bruyette & Woods lifted their price objective on shares of Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. Raymond James reissued an “outperform” rating and set a $53.00 price target (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. Finally, StockNews.com began coverage on shares of Camden National in a research report on Tuesday. They issued a “hold” rating for the company.

About Camden National

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.