Camden National Co. (NASDAQ:CAC) Shares Sold by Clean Yield Group

Clean Yield Group cut its stake in shares of Camden National Co. (NASDAQ:CAC) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,562 shares of the financial services provider’s stock after selling 1,449 shares during the quarter. Camden National accounts for approximately 1.4% of Clean Yield Group’s holdings, making the stock its 21st biggest position. Clean Yield Group owned approximately 0.72% of Camden National worth $4,469,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of Camden National by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 90,944 shares of the financial services provider’s stock valued at $3,001,000 after purchasing an additional 3,937 shares during the period. Rhumbline Advisers lifted its position in shares of Camden National by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock valued at $762,000 after acquiring an additional 319 shares during the period. American Century Companies Inc. boosted its stake in shares of Camden National by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider’s stock worth $6,029,000 after acquiring an additional 18,294 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Camden National by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock worth $27,605,000 after acquiring an additional 26,450 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Camden National by 1.3% in the 2nd quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock valued at $9,313,000 after purchasing an additional 3,600 shares in the last quarter. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Keefe, Bruyette & Woods upped 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 initiated coverage on shares of Camden National in a research note on Saturday. They issued a “hold” rating on the stock. Finally, Raymond James upgraded shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Friday, December 20th.

Camden National Price Performance

Shares of CAC traded up $0.26 during trading hours on Monday, reaching $41.77. 65,038 shares of the company traded hands, compared to its average volume of 93,607. The stock has a market capitalization of $608.88 million, a PE ratio of 13.05 and a beta of 0.76. The stock has a fifty day simple moving average of $45.29 and a 200 day simple moving average of $40.91. Camden National Co. has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. 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 issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The business had revenue of $75.13 million during the quarter, compared to the consensus estimate of $43.90 million. During the same period in the previous year, the firm posted $0.96 earnings per share. As a group, research analysts predict that Camden National Co. will post 3.49 EPS for the current fiscal year.

Camden National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Wednesday, January 15th. Camden National’s dividend payout ratio (DPR) is 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.