Bryn Mawr Capital Management LLC Invests $6.81 Million in Camden National Co. (NASDAQ:CAC)

Bryn Mawr Capital Management LLC acquired a new stake in shares of Camden National Co. (NASDAQ:CAC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 159,367 shares of the financial services provider’s stock, valued at approximately $6,811,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Camden National by 53.6% in 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 last quarter. Segall Bryant & Hamill LLC purchased a new position in Camden National in the 3rd quarter worth about $1,729,000. Assenagon Asset Management S.A. lifted its stake in Camden National by 194.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 33,344 shares of the financial services provider’s stock valued at $1,378,000 after acquiring an additional 22,007 shares during the period. Dean Investment Associates LLC boosted its holdings in shares of Camden National by 36.8% during the 3rd quarter. Dean Investment Associates LLC now owns 65,557 shares of the financial services provider’s stock valued at $2,709,000 after acquiring an additional 17,632 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Camden National in the third quarter worth approximately $659,000. 77.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CAC shares. Raymond James restated an “outperform” rating and set a $53.00 price objective (up previously from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods raised 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. Finally, StockNews.com started coverage on Camden National in a report on Thursday. They issued a “hold” rating for the company.

Camden National Stock Down 0.7 %

Shares of CAC stock opened at $44.71 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National Co. has a 12 month low of $28.62 and a 12 month high of $50.07. The stock has a market cap of $651.74 million, a P/E ratio of 12.35 and a beta of 0.77. The company has a 50 day simple moving average of $43.95 and a two-hundred day simple moving average of $42.50.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 EPS 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 period last year, the business posted $0.85 earnings per share. On average, research analysts expect that Camden National Co. will post 4.25 earnings per share for the current year.

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Wednesday, January 15th. Camden National’s dividend payout ratio (DPR) is currently 46.41%.

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.