Coston McIsaac & Partners Grows Position in Camden National Co. (NASDAQ:CAC)

Coston McIsaac & Partners lifted its stake in shares of Camden National Co. (NASDAQ:CAC) by 18.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 11,621 shares of the financial services provider’s stock after purchasing an additional 1,819 shares during the quarter. Coston McIsaac & Partners’ holdings in Camden National were worth $480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in CAC. Kimelman & Baird LLC purchased a new stake in shares of Camden National in the 2nd quarter valued at $4,943,000. Signaturefd LLC boosted its holdings in Camden National by 2,990.3% in the first quarter. Signaturefd LLC now owns 38,567 shares of the financial services provider’s stock valued at $1,293,000 after purchasing an additional 37,319 shares during the last quarter. ProShare Advisors LLC grew its position in Camden National by 13.2% during the 1st quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock worth $8,027,000 after purchasing an additional 28,007 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Camden National by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock valued at $27,605,000 after buying an additional 26,450 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new position in shares of Camden National in the 2nd quarter valued at about $757,000. 77.41% of the stock is owned by hedge funds and other institutional investors.

Camden National Price Performance

Shares of Camden National stock traded up $0.19 on Wednesday, reaching $41.22. The company’s stock had a trading volume of 5,666 shares, compared to its average volume of 49,814. Camden National Co. has a 52-week low of $26.52 and a 52-week high of $43.50. The company has a market capitalization of $602.10 million, a P/E ratio of 13.63 and a beta of 0.72. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average price of $39.51 and a 200-day moving average price of $35.52.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.10. Camden National had a net margin of 16.01% and a return on equity of 10.36%. The business had revenue of $72.81 million for the quarter, compared to analyst estimates of $41.07 million. During the same quarter last year, the business earned $0.85 earnings per share. Analysts expect that Camden National Co. will post 3.34 EPS for the current year.

Camden National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Tuesday, October 15th. Camden National’s payout ratio is 55.81%.

Analyst Ratings Changes

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

Camden National Company 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.