Fiduciary Trust Co Has $331,000 Stock Holdings in Camden National Co. (NASDAQ:CAC)

Fiduciary Trust Co reduced its stake in Camden National Co. (NASDAQ:CAC) by 33.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,000 shares of the financial services provider’s stock after selling 4,000 shares during the quarter. Fiduciary Trust Co owned about 0.05% of Camden National worth $331,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAC. Charles Schwab Investment Management Inc. lifted its holdings in Camden National by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock valued at $4,876,000 after buying an additional 674 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Camden National in the 3rd quarter worth about $659,000. Segall Bryant & Hamill LLC acquired a new position in shares of Camden National in the 3rd quarter valued at about $1,729,000. Empowered Funds LLC boosted its position in shares of Camden National by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 37,892 shares of the financial services provider’s stock valued at $1,566,000 after purchasing an additional 1,876 shares in the last quarter. Finally, Apollon Wealth Management LLC grew its stake in Camden National by 3.0% during the third quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock worth $1,258,000 after purchasing an additional 900 shares during the period. 77.41% of the stock is owned by institutional investors and hedge funds.

Camden National Stock Performance

Shares of Camden National stock opened at $47.11 on Friday. Camden National Co. has a 52 week low of $28.62 and a 52 week high of $50.07. 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 50 day moving average price of $43.33 and a 200-day moving average price of $38.35. The company has a market cap of $686.72 million, a PE ratio of 14.72 and a beta of 0.72.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. The business had revenue of $75.13 million during the quarter, compared to analyst estimates of $43.90 million. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same period in the prior year, the firm posted $0.96 EPS. Equities analysts anticipate that Camden National Co. will post 3.45 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Tuesday, October 15th. Camden National’s payout ratio is currently 52.50%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CAC. Keefe, Bruyette & Woods boosted their target price on shares of Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a research report on Wednesday, September 11th. StockNews.com assumed coverage on shares of Camden National in a report on Sunday, November 24th. They set 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.