Eagle Asset Management Inc. Raises Position in Camden National Co. (CAC)
Eagle Asset Management Inc. increased its position in Camden National Co. (NASDAQ:CAC) by 6.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,981 shares of the financial services provider’s stock after buying an additional 3,459 shares during the quarter. Eagle Asset Management Inc. owned about 0.37% of Camden National worth $2,650,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Deutsche Bank AG lifted its holdings in Camden National by 55.1% in the 4th quarter. Deutsche Bank AG now owns 47,162 shares of the financial services provider’s stock worth $1,984,000 after purchasing an additional 16,762 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in Camden National in the 4th quarter worth approximately $330,000. Monarch Partners Asset Management LLC lifted its holdings in Camden National by 55.8% in the 1st quarter. Monarch Partners Asset Management LLC now owns 23,780 shares of the financial services provider’s stock worth $1,058,000 after purchasing an additional 8,520 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Camden National by 3.0% in the 1st quarter. Prudential Financial Inc. now owns 104,168 shares of the financial services provider’s stock worth $4,636,000 after purchasing an additional 3,000 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in Camden National by 1.2% in the 1st quarter. LSV Asset Management now owns 689,253 shares of the financial services provider’s stock worth $30,671,000 after purchasing an additional 8,000 shares in the last quarter. 66.35% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently commented on CAC shares. ValuEngine raised Camden National from a “hold” rating to a “buy” rating in a report on Friday, April 27th. BidaskClub cut Camden National from a “buy” rating to a “hold” rating in a report on Wednesday, June 13th. Zacks Investment Research raised Camden National from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 3rd. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $51.50 price target on shares of Camden National in a report on Friday, August 3rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $49.50.
Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, July 31st. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.04). The firm had revenue of $38.98 million for the quarter, compared to analysts’ expectations of $39.40 million. Camden National had a return on equity of 11.64% and a net margin of 18.39%. equities analysts forecast that Camden National Co. will post 3.3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 31st. Stockholders of record on Friday, July 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.61%. This is a boost from Camden National’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, July 12th. Camden National’s dividend payout ratio is 43.96%.
Camden National Profile
Camden National Corporation operates as the holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit, and commercial customers. It offers various deposit products, including demand, checking, saving, and money market accounts; and time deposits.
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