Connor Clark & Lunn Investment Management Ltd. Raises Holdings in Camden National Co. (NASDAQ:CAC)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Camden National Co. (NASDAQ:CAC) by 54.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,572 shares of the financial services provider’s stock after purchasing an additional 8,619 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.17% of Camden National worth $1,050,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Camden National by 1.2% during the third quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock worth $14,236,000 after purchasing an additional 4,067 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Camden National by 53.6% during 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. Bryn Mawr Capital Management LLC purchased a new position in shares of Camden National during the fourth quarter worth about $6,811,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Camden National by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 118,716 shares of the financial services provider’s stock worth $5,074,000 after buying an additional 721 shares during the last quarter. Finally, Camden National Bank grew its holdings in shares of Camden National by 3.2% during the fourth quarter. Camden National Bank now owns 96,537 shares of the financial services provider’s stock worth $4,126,000 after buying an additional 2,955 shares during the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Camden National Price Performance

Shares of NASDAQ:CAC opened at $41.44 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The company has a market cap of $698.89 million, a P/E ratio of 11.45 and a beta of 0.73. Camden National Co. has a 52 week low of $28.62 and a 52 week high of $50.07. The company has a 50-day moving average price of $43.55 and a 200 day moving average price of $43.11.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, beating 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 period in the prior year, the company earned $0.85 earnings per share. Research analysts predict that Camden National Co. will post 4.25 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CAC shares. Raymond James reissued an “outperform” rating and set a $53.00 price target (up previously from $50.00) on shares of Camden National in a report on Wednesday, January 29th. StockNews.com started coverage on Camden National in a report on Sunday, March 16th. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods raised their price target on Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a report 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.