Rhumbline Advisers Buys 415 Shares of Camden National Co. (NASDAQ:CAC)

Rhumbline Advisers raised its stake in Camden National Co. (NASDAQ:CAC) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,204 shares of the financial services provider’s stock after purchasing an additional 415 shares during the period. Rhumbline Advisers owned 0.16% of Camden National worth $992,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its holdings in shares of Camden National by 18,500.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 1,850 shares during the last quarter. Foundations Investment Advisors LLC bought a new stake in Camden National in the 4th quarter worth about $280,000. SG Americas Securities LLC increased its stake in Camden National by 26.5% in the 4th quarter. SG Americas Securities LLC now owns 8,952 shares of the financial services provider’s stock valued at $383,000 after buying an additional 1,875 shares during the last quarter. Clark & Stuart Inc bought a new position in shares of Camden National during the 4th quarter worth approximately $434,000. Finally, US Bancorp DE boosted its stake in shares of Camden National by 2.9% in the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock worth $461,000 after buying an additional 319 shares during the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

Camden National Stock Performance

CAC stock opened at $41.71 on Friday. The stock has a market capitalization of $608.01 million, a PE ratio of 11.52 and a beta of 0.77. The stock’s 50 day simple moving average is $43.78 and its 200 day simple moving average is $42.96. Camden National Co. has a 12-month low of $28.62 and a 12-month high of $50.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, topping 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 period in the prior year, the firm posted $0.85 earnings per share. As a group, research analysts forecast that Camden National Co. will post 4.25 earnings per share for the current fiscal year.

Camden National Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.03%. The ex-dividend date was Wednesday, January 15th. Camden National’s dividend payout ratio is currently 46.41%.

Analyst Ratings Changes

CAC has been the subject of several analyst reports. Raymond James reaffirmed an “outperform” rating and issued a $53.00 price objective (up from $50.00) on shares of Camden National in a report on Wednesday, January 29th. StockNews.com initiated coverage on Camden National in a report on Friday, February 28th. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods lifted their price target on Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th.

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.