JPMorgan Chase & Co. Acquires 17,287 Shares of Camden National Corporation $CAC

JPMorgan Chase & Co. boosted its holdings in Camden National Corporation (NASDAQ:CAC) by 6.2% during the 2nd quarter, Holdings Channel reports. The firm owned 297,321 shares of the financial services provider’s stock after acquiring an additional 17,287 shares during the period. JPMorgan Chase & Co.’s holdings in Camden National were worth $12,065,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Camden National by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 874,341 shares of the financial services provider’s stock valued at $35,385,000 after purchasing an additional 77,106 shares during the last quarter. Geode Capital Management LLC increased its holdings in Camden National by 0.5% during the second quarter. Geode Capital Management LLC now owns 408,288 shares of the financial services provider’s stock worth $16,571,000 after buying an additional 2,187 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Camden National by 15.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 137,209 shares of the financial services provider’s stock worth $5,553,000 after buying an additional 18,493 shares during the last quarter. Bridgeway Capital Management LLC raised its position in Camden National by 4.2% in the first quarter. Bridgeway Capital Management LLC now owns 82,143 shares of the financial services provider’s stock worth $3,324,000 after acquiring an additional 3,318 shares during the period. Finally, Wellington Management Group LLP purchased a new position in Camden National in the first quarter valued at about $2,160,000. Institutional investors own 77.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CAC. Keefe, Bruyette & Woods raised their price target on shares of Camden National from $44.00 to $45.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 29th. Zacks Research raised Camden National to a “hold” rating in a research report on Tuesday, August 12th. Janney Montgomery Scott raised Camden National to a “hold” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Camden National in a research note on Monday, December 1st. Finally, National Bankshares set a $45.00 price objective on Camden National in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.75.

Camden National Price Performance

Camden National stock opened at $42.37 on Monday. The firm has a market capitalization of $716.90 million, a P/E ratio of 12.07 and a beta of 0.66. Camden National Corporation has a one year low of $34.53 and a one year high of $47.55. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.81 and a quick ratio of 0.81. The business has a fifty day moving average price of $38.74 and a 200-day moving average price of $39.60.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.01. The company had revenue of $116.67 million for the quarter, compared to analyst estimates of $63.20 million. Camden National had a return on equity of 10.76% and a net margin of 16.24%. As a group, equities research analysts forecast that Camden National Corporation will post 4.25 EPS for the current year.

Camden National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Wednesday, October 15th. Camden National’s dividend payout ratio (DPR) is 47.86%.

Camden National Company 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.