Charles Schwab Investment Management Inc. Grows Stock Holdings in Camden National Co. (NASDAQ:CAC)

Charles Schwab Investment Management Inc. raised its position in shares of Camden National Co. (NASDAQ:CAC) by 0.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 117,995 shares of the financial services provider’s stock after buying an additional 674 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Camden National were worth $4,876,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CAC. Bank of New York Mellon Corp boosted its position in shares of Camden National by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 90,944 shares of the financial services provider’s stock worth $3,001,000 after buying an additional 3,937 shares during the period. Signaturefd LLC boosted its holdings in Camden National by 30.9% in the second quarter. Signaturefd LLC now owns 50,491 shares of the financial services provider’s stock valued at $1,666,000 after purchasing an additional 11,924 shares during the period. Hantz Financial Services Inc. purchased a new position in Camden National in the second quarter valued at $757,000. Rhumbline Advisers boosted its holdings in Camden National by 1.4% in the second quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock valued at $762,000 after purchasing an additional 319 shares during the period. Finally, LSV Asset Management boosted its holdings in Camden National by 8.4% in the second quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock valued at $7,874,000 after purchasing an additional 18,517 shares during the period. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted 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. StockNews.com assumed coverage on Camden National in a report on Tuesday. They set a “hold” rating for the company.

Camden National Stock Down 0.2 %

Shares of NASDAQ CAC opened at $45.86 on Friday. The company has a market capitalization of $668.64 million, a price-to-earnings ratio of 14.33 and a beta of 0.75. 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 business has a 50-day moving average of $44.58 and a two-hundred day moving average of $39.17. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. The company 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 period in the previous year, the business earned $0.96 EPS. On average, analysts forecast that Camden National Co. will post 3.49 earnings per share for the current fiscal year.

Camden National Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were given a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.66%. Camden National’s dividend payout ratio (DPR) is presently 52.50%.

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.