Y Intercept Hong Kong Ltd Boosts Holdings in Camden National Corporation $CAC

Y Intercept Hong Kong Ltd grew its stake in shares of Camden National Corporation (NASDAQ:CAC) by 434.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,627 shares of the financial services provider’s stock after purchasing an additional 29,771 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.22% of Camden National worth $1,413,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. TrueMark Investments LLC bought a new stake in Camden National during the 3rd quarter valued at approximately $2,634,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Camden National by 1.6% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 44,886 shares of the financial services provider’s stock valued at $1,732,000 after purchasing an additional 726 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in Camden National in the third quarter worth $26,000. SG Americas Securities LLC bought a new position in Camden National in the third quarter worth $132,000. Finally, Clean Yield Group lifted its position in Camden National by 1.2% during the third quarter. Clean Yield Group now owns 102,607 shares of the financial services provider’s stock valued at $3,960,000 after buying an additional 1,198 shares during the period. 77.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CAC has been the topic of a number of recent research reports. National Bankshares set a $47.00 target price on shares of Camden National in a research report on Wednesday. Keefe, Bruyette & Woods lifted their target price on shares of Camden National from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Camden National in a research note on Monday, December 29th. Finally, Janney Montgomery Scott raised Camden National to a “hold” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Camden National currently has a consensus rating of “Hold” and an average price target of $46.00.

Camden National Stock Performance

CAC stock opened at $47.57 on Friday. The stock’s 50 day simple moving average is $44.34 and its 200 day simple moving average is $40.91. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. Camden National Corporation has a 12-month low of $34.53 and a 12-month high of $48.40. The stock has a market capitalization of $804.88 million, a PE ratio of 12.39 and a beta of 0.65.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.01. The business had revenue of $68.05 million during the quarter, compared to analyst estimates of $66.40 million. Camden National had a return on equity of 11.39% and a net margin of 17.46%. As a group, research analysts forecast that Camden National Corporation will post 4.25 earnings per share for the current fiscal year.

Camden National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Thursday, January 15th were given a $0.42 dividend. The ex-dividend date of this dividend was Thursday, January 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.5%. Camden National’s payout ratio is 43.75%.

About Camden National

Camden National Corporation is a bank holding company headquartered in Camden, Maine. Through its primary subsidiary, Camden National Bank, the company provides a full range of community banking services to individuals and businesses. Its branch network spans much of the State of Maine, with a concentration in the midcoast, central and southern regions.

The company’s offerings include deposit products such as checking, savings and money market accounts, along with consumer and commercial lending services.