Camden National Co. (NASDAQ:CAC) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in shares of Camden National Co. (NASDAQ:CAC) by 214.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,973 shares of the financial services provider’s stock after purchasing an additional 19,090 shares during the period. Teacher Retirement System of Texas owned 0.19% of Camden National worth $1,196,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of Camden National by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock worth $14,236,000 after acquiring an additional 4,067 shares during the period. JPMorgan Chase & Co. raised its stake in 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 purchasing an additional 99,097 shares during the period. Bryn Mawr Capital Management LLC acquired a new position in shares of Camden National in the 4th quarter valued at $6,811,000. Charles Schwab Investment Management Inc. grew its stake in shares of Camden National by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 118,716 shares of the financial services provider’s stock valued at $5,074,000 after buying an additional 721 shares during the period. Finally, Camden National Bank grew its stake in shares of Camden National by 3.2% during the 4th quarter. Camden National Bank now owns 96,537 shares of the financial services provider’s stock valued at $4,126,000 after buying an additional 2,955 shares during the period. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods upped their price target on Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. StockNews.com assumed coverage on shares of Camden National in a research report on Monday, March 24th. They set a “hold” rating for the company. Finally, Raymond James reaffirmed an “outperform” rating and set a $53.00 price target (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th.

Camden National Price Performance

Shares of NASDAQ CAC opened at $40.61 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $684.89 million, a price-to-earnings ratio of 11.22 and a beta of 0.73. Camden National Co. has a twelve month low of $28.62 and a twelve month high of $50.07. The business has a 50 day simple moving average of $43.33 and a 200-day simple moving average of $43.22.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (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 period in the previous year, the company earned $0.85 EPS. As a group, equities research analysts expect that Camden National Co. will post 4.25 earnings per share for the current year.

Camden National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.42 per share. The ex-dividend date is Tuesday, April 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.14%. Camden National’s dividend payout ratio (DPR) is presently 46.41%.

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.