Dean Capital Management Buys 22,630 Shares of Camden National Corporation $CAC

Dean Capital Management boosted its stake in Camden National Corporation (NASDAQ:CAC) by 57.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 61,881 shares of the financial services provider’s stock after buying an additional 22,630 shares during the period. Camden National makes up 1.2% of Dean Capital Management’s portfolio, making the stock its 16th largest holding. Dean Capital Management’s holdings in Camden National were worth $2,936,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CAC. UBS Group AG grew its position in shares of Camden National by 47.2% in the fourth quarter. UBS Group AG now owns 58,395 shares of the financial services provider’s stock valued at $2,533,000 after purchasing an additional 18,722 shares during the last quarter. Sheets Smith Wealth Management acquired a new stake in Camden National during the 1st quarter worth approximately $679,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Camden National by 2,802.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 64,348 shares of the financial services provider’s stock worth $2,791,000 after purchasing an additional 62,131 shares during the last quarter. Globeflex Capital L P boosted its stake in Camden National by 87.2% in the 4th quarter. Globeflex Capital L P now owns 28,948 shares of the financial services provider’s stock valued at $1,256,000 after purchasing an additional 13,486 shares during the period. Finally, Abacus Wealth Partners LLC bought a new stake in Camden National in the 4th quarter valued at $811,000. 77.41% of the stock is owned by institutional investors.

Camden National Price Performance

Shares of NASDAQ CAC opened at $54.63 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.82 and a current ratio of 0.82. Camden National Corporation has a 52 week low of $35.00 and a 52 week high of $56.22. The stock has a market capitalization of $924.07 million, a P/E ratio of 11.62 and a beta of 0.55. The stock’s fifty day moving average is $52.17 and its 200 day moving average is $49.32.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. Camden National had a return on equity of 11.78% and a net margin of 21.32%.The business had revenue of $64.34 million during the quarter, compared to the consensus estimate of $65.57 million. Sell-side analysts forecast that Camden National Corporation will post 5.37 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be given a $0.42 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.1%. Camden National’s payout ratio is presently 35.74%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CAC. National Bank Financial set a $50.00 price objective on Camden National in a research report on Wednesday, April 29th. Raymond James Financial boosted their target price on shares of Camden National from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Weiss Ratings restated a “buy (b)” rating on shares of Camden National in a research note on Tuesday, June 9th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Camden National from $47.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $52.75.

Camden National Profile

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.