Camden National Co. (NASDAQ:CAC) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its position in Camden National Co. (NASDAQ:CAC) by 5.2% in the third quarter, Holdings Channel reports. The institutional investor owned 37,892 shares of the financial services provider’s stock after purchasing an additional 1,876 shares during the period. Empowered Funds LLC’s holdings in Camden National were worth $1,566,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Rhumbline Advisers increased its stake in shares of Camden National by 1.4% during the second quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock worth $762,000 after purchasing an additional 319 shares in the last quarter. US Bancorp DE increased its position in shares of Camden National by 2.9% during the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 319 shares in the last quarter. Apollon Wealth Management LLC raised its stake in Camden National by 3.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock valued at $1,258,000 after purchasing an additional 900 shares during the last quarter. Coston McIsaac & Partners lifted its holdings in Camden National by 18.6% in the 3rd quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 1,819 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Camden National during the 2nd quarter worth $73,000. Institutional investors and hedge funds own 77.41% of the company’s stock.

Camden National Stock Up 1.0 %

Shares of NASDAQ CAC opened at $46.76 on Friday. The company has a market capitalization of $681.55 million, a P/E ratio of 14.61 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The company has a 50 day simple moving average of $42.18 and a 200-day simple moving average of $37.60. Camden National Co. has a 1 year low of $28.62 and a 1 year high of $50.07.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.83 by $0.11. The business had revenue of $75.13 million for the quarter, compared to analyst estimates 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 posted $0.96 EPS. On average, equities research analysts predict that Camden National Co. will post 3.45 earnings per share for the current year.

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a $0.42 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.59%. Camden National’s dividend payout ratio is currently 52.50%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Stephens raised their price target on shares of Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. StockNews.com began coverage on Camden National in a report on Saturday, November 16th. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods lifted their price objective on Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 11th.

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.