Camden National Co. (NASDAQ:CAC) Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its position in Camden National Co. (NASDAQ:CAC) by 38.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,493 shares of the financial services provider’s stock after buying an additional 24,676 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.61% of Camden National worth $3,782,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in Camden National by 18,500.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock valued at $79,000 after buying an additional 1,850 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Camden National in the fourth quarter valued at $103,000. Quantbot Technologies LP purchased a new position in Camden National in the fourth quarter valued at $106,000. AlphaQuest LLC grew its stake in Camden National by 2,615.3% during the 4th quarter. AlphaQuest LLC now owns 4,263 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 4,106 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Camden National during the 4th quarter worth about $210,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Camden National Price Performance

CAC stock opened at $36.53 on Wednesday. The business has a 50 day moving average price of $42.30 and a 200 day moving average price of $43.19. 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 stock has a market cap of $616.08 million, a price-to-earnings ratio of 10.09 and a beta of 0.61. Camden National Co. has a fifty-two week low of $28.62 and a fifty-two week high of $50.07.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate 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 prior year, the firm posted $0.85 earnings per share. Equities research analysts anticipate that Camden National Co. will post 4.25 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend is Tuesday, April 15th. Camden National’s payout ratio is 46.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CAC shares. Raymond James reiterated an “outperform” rating and issued a $53.00 price objective (up previously from $50.00) on shares of Camden National in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price target on shares of Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, January 29th. Finally, StockNews.com assumed coverage on shares of Camden National in a report on Wednesday. They issued a “hold” rating on the stock.

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.