Camden National Co. (NASDAQ:CAC) Shares Purchased by AlphaQuest LLC

AlphaQuest LLC boosted its holdings in Camden National Co. (NASDAQ:CAC) by 2,615.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,263 shares of the financial services provider’s stock after acquiring an additional 4,106 shares during the quarter. AlphaQuest LLC’s holdings in Camden National were worth $182,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased 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 acquiring an additional 1,850 shares during the period. Raymond James Financial Inc. bought a new position in Camden National during the 4th quarter valued at $210,000. Bryn Mawr Capital Management LLC bought a new position in Camden National during the 4th quarter valued at $247,000. Foundations Investment Advisors LLC bought a new position in Camden National during the 4th quarter valued at $280,000. Finally, SG Americas Securities LLC boosted its stake in Camden National by 26.5% during the 4th quarter. SG Americas Securities LLC now owns 8,952 shares of the financial services provider’s stock valued at $383,000 after purchasing an additional 1,875 shares in the last quarter. 77.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CAC shares. 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 note on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price target on Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. Finally, StockNews.com assumed coverage on Camden National in a research note on Sunday. They set a “hold” rating for the company.

Camden National Stock Performance

CAC opened at $41.31 on Monday. The firm has a market cap of $696.69 million, a PE ratio of 11.41 and a beta of 0.73. 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 business has a fifty day simple moving average of $43.57 and a 200-day simple moving average of $43.11. 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 released 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 return on equity of 10.38% and a net margin of 18.02%. During the same quarter last year, the firm posted $0.85 earnings per share. As a group, equities analysts predict that Camden National Co. will post 4.25 EPS for the current fiscal year.

Camden National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were issued a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.07%. Camden National’s payout ratio is currently 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.