Creative Planning Purchases 13,663 Shares of Camden National Co. (NASDAQ:CAC)

Creative Planning lifted its position in Camden National Co. (NASDAQ:CAC) by 65.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,590 shares of the financial services provider’s stock after buying an additional 13,663 shares during the period. Creative Planning owned approximately 0.24% of Camden National worth $1,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CAC. Northwestern Mutual Wealth Management Co. purchased a new stake in Camden National during the second quarter valued at approximately $73,000. BNP Paribas Financial Markets grew its position in shares of Camden National by 89.3% during the 1st quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 3,330 shares during the period. SG Americas Securities LLC grew its position in shares of 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 acquiring an additional 2,602 shares during the period. Inspire Investing LLC purchased a new stake in shares of Camden National in the 2nd quarter worth $349,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Camden National by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider’s stock worth $546,000 after purchasing an additional 4,907 shares during the period. Institutional investors own 77.41% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com started coverage on Camden National in a report on Wednesday, October 23rd. They set a “hold” rating for the company. Stephens boosted their price objective on Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 11th.

Camden National Price Performance

NASDAQ:CAC opened at $42.20 on Wednesday. The business’s 50-day simple moving average is $39.81 and its two-hundred day simple moving average is $35.80. Camden National Co. has a 52 week low of $28.00 and a 52 week high of $43.50. The stock has a market cap of $616.42 million, a PE ratio of 14.02 and a beta of 0.72. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company earned $0.85 EPS. As a group, analysts forecast that Camden National Co. will post 3.34 EPS for the current fiscal year.

Camden National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Tuesday, October 15th. Camden National’s dividend payout ratio (DPR) is presently 55.81%.

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.