AlphaQuest LLC Raises Position in Camden National Co. (NASDAQ:CAC)

AlphaQuest LLC lifted its stake in Camden National Co. (NASDAQ:CAC) by 2,615.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,263 shares of the financial services provider’s stock after buying an additional 4,106 shares during the period. AlphaQuest LLC’s holdings in Camden National were worth $182,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CAC. Bryn Mawr Capital Management LLC purchased a new position in Camden National in the fourth quarter valued at about $6,811,000. JPMorgan Chase & Co. boosted its holdings in Camden National by 53.6% in the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock valued at $11,731,000 after purchasing an additional 99,097 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in Camden National in the third quarter valued at about $1,729,000. Dean Investment Associates LLC boosted its holdings in Camden National by 36.8% in 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 purchasing an additional 17,632 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Camden National in the third quarter valued at about $659,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Camden National Trading Up 1.5 %

Shares of NASDAQ CAC opened at $41.31 on Monday. The stock’s 50 day moving average price is $43.57 and its two-hundred day moving average price is $43.11. Camden National Co. has a 52-week low of $28.62 and a 52-week high of $50.07. The stock has a market capitalization of $696.69 million, a P/E ratio of 11.41 and a beta of 0.73. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.14. Camden National had a return on equity of 10.38% and a net margin of 18.02%. During the same quarter in the previous year, the business posted $0.85 EPS. On average, analysts anticipate that Camden National Co. will post 4.25 earnings per share for the current fiscal year.

Camden National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend was Wednesday, January 15th. Camden National’s payout ratio is 46.41%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com assumed coverage on Camden National in a report on Sunday. They issued a “hold” rating for the company. Keefe, Bruyette & Woods increased their price target on Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. Finally, Raymond James restated an “outperform” rating and set a $53.00 price objective (up previously from $50.00) on shares of Camden National in a research note 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.