Wilmington Savings Fund Society FSB Lowers Stock Position in Camden National Co. (NASDAQ:CAC)

Wilmington Savings Fund Society FSB decreased its holdings in Camden National Co. (NASDAQ:CAC) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,170 shares of the financial services provider’s stock after selling 2,657 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Camden National were worth $5,051,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Camden National by 53.6% in the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock valued at $11,731,000 after acquiring an additional 99,097 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in Camden National in the 3rd quarter worth approximately $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 increased its stake in shares of Camden National by 36.8% in the third quarter. Dean Investment Associates LLC now owns 65,557 shares of the financial services provider’s stock worth $2,709,000 after acquiring an additional 17,632 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Camden National during the third quarter valued at $659,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CAC shares. Raymond James restated an “outperform” rating and issued a $53.00 target price (up previously from $50.00) on shares of Camden National in a research note on Wednesday, January 29th. StockNews.com assumed coverage on shares of Camden National in a report on Tuesday, February 4th. They set a “hold” rating for the company. Finally, Keefe, Bruyette & Woods raised their target price on Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th.

Camden National Price Performance

NASDAQ:CAC opened at $45.21 on Friday. The firm has a market cap of $659.16 million, a P/E ratio of 12.49 and a beta of 0.77. The stock has a 50 day moving average of $44.25 and a two-hundred day moving average of $42.20. Camden National Co. has a 12 month low of $28.62 and a 12 month high of $50.07. 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 (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm earned $0.85 EPS. On average, analysts expect that Camden National Co. will post 4.25 earnings per share for the current fiscal year.

Camden National Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date was Wednesday, January 15th. Camden National’s dividend payout ratio is presently 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.