Bank of New York Mellon Corp Purchases 1,515 Shares of Camden National Co. (NASDAQ:CAC)

Bank of New York Mellon Corp boosted its position in Camden National Co. (NASDAQ:CAC) by 1.7% in the 4th quarter, Holdings Channel reports. The firm owned 88,236 shares of the financial services provider’s stock after buying an additional 1,515 shares during the quarter. Bank of New York Mellon Corp’s holdings in Camden National were worth $3,771,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake in Camden National by 18,500.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 1,850 shares during the last quarter. Foundations Investment Advisors LLC bought a new stake in Camden National in the fourth quarter worth about $280,000. SG Americas Securities LLC lifted its stake in Camden National by 26.5% in the fourth quarter. SG Americas Securities LLC now owns 8,952 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 1,875 shares during the last quarter. Clark & Stuart Inc purchased a new position in shares of Camden National during the fourth quarter worth approximately $434,000. Finally, Coston McIsaac & Partners increased its position in shares of Camden National by 11.8% during the fourth quarter. Coston McIsaac & Partners now owns 12,997 shares of the financial services provider’s stock worth $555,000 after acquiring an additional 1,376 shares during the period. Institutional investors own 77.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CAC. StockNews.com began coverage on shares of Camden National in a research report on Sunday. They set a “hold” rating on the stock. Keefe, Bruyette & Woods raised their target price on shares of Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 29th. Finally, Raymond James reaffirmed an “outperform” rating and set a $53.00 target price (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th.

Camden National Stock Performance

Shares of CAC stock opened at $41.79 on Wednesday. The firm has a market cap of $704.79 million, a price-to-earnings ratio of 11.54 and a beta of 0.73. The company’s 50 day moving average is $43.56 and its 200 day moving average is $43.13. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National Co. has a 52-week low of $28.62 and a 52-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 (EPS) for the quarter, beating 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 last year, the business earned $0.85 EPS. On average, sell-side analysts anticipate that Camden National Co. will post 4.25 EPS for the current fiscal year.

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.