Geode Capital Management LLC Grows Position in Camden National Co. (NASDAQ:CAC)

Geode Capital Management LLC grew its stake in shares of Camden National Co. (NASDAQ:CAC) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 344,448 shares of the financial services provider’s stock after purchasing an additional 4,067 shares during the quarter. Geode Capital Management LLC owned approximately 2.36% of Camden National worth $14,236,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Barclays PLC boosted its stake in shares of Camden National by 38.9% during the third quarter. Barclays PLC now owns 48,339 shares of the financial services provider’s stock valued at $1,998,000 after purchasing an additional 13,542 shares during the period. Dean Investment Associates LLC raised its holdings 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 acquiring an additional 17,632 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Camden National by 15.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,778 shares of the financial services provider’s stock valued at $1,148,000 after acquiring an additional 3,682 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 valued at $4,876,000 after acquiring an additional 674 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position 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.

Analyst Ratings Changes

A number of equities analysts recently commented on CAC shares. Raymond James upgraded Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Friday, December 20th. Keefe, Bruyette & Woods upped their target price on Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com started coverage on Camden National in a report on Thursday, December 26th. They set a “hold” rating for the company.

Camden National Price Performance

CAC opened at $42.77 on Tuesday. The stock has a fifty day simple moving average of $45.19 and a two-hundred day simple moving average of $40.25. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The company has a market cap of $623.46 million, a price-to-earnings ratio of 13.37 and a beta of 0.75. Camden National Co. has a 12-month low of $28.62 and a 12-month 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. The business had revenue of $75.13 million during the quarter, compared to the consensus estimate of $43.90 million. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same quarter in the prior year, the company earned $0.96 earnings per share. Research analysts predict that Camden National Co. will post 3.49 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.93%. 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.