Intech Investment Management LLC Invests $259,000 in Camden National Co. (NASDAQ:CAC)

Intech Investment Management LLC bought a new stake in Camden National Co. (NASDAQ:CAC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,059 shares of the financial services provider’s stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bryn Mawr Capital Management LLC acquired a new position in Camden National in the 4th quarter worth approximately $6,811,000. JPMorgan Chase & Co. boosted its stake in shares of Camden National by 53.6% in the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock worth $11,731,000 after buying an additional 99,097 shares during the last quarter. Davis R M Inc. acquired a new stake in Camden National during the fourth quarter worth about $4,059,000. Dean Investment Associates LLC raised its position in 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. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Camden National in the third quarter valued at approximately $659,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Camden National Price Performance

Camden National stock opened at $41.50 on Thursday. The stock has a market capitalization of $699.90 million, a P/E ratio of 11.46 and a beta of 0.73. The company’s fifty day moving average price is $43.45 and its 200 day moving average price is $43.21. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. Camden National Co. has a 1 year low of $28.62 and a 1 year high of $50.07.

Camden National (NASDAQ:CAC) last released 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 quarter in the previous year, the company earned $0.85 earnings per share. As a group, equities research analysts anticipate 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 will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.68 annualized dividend and a dividend yield of 4.05%. Camden National’s dividend payout ratio (DPR) is presently 46.41%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CAC. StockNews.com initiated coverage on shares of Camden National in a report on Monday. They set a “hold” rating for the company. Keefe, Bruyette & Woods lifted their price objective on shares of 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 reissued an “outperform” rating and set a $53.00 target price (up from $50.00) on shares of Camden National in a research note on Wednesday, January 29th.

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.