Vise Technologies Inc. Acquires Shares of 8,902 Camden National Corporation $CAC

Vise Technologies Inc. bought a new position in shares of Camden National Corporation (NASDAQ:CAC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 8,902 shares of the financial services provider’s stock, valued at approximately $483,000. Vise Technologies Inc. owned approximately 0.05% of Camden National as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Camden National during the second quarter worth approximately $96,659,000. Bank of New York Mellon Corp purchased a new stake in shares of Camden National in the second quarter valued at approximately $6,545,000. Franklin Resources Inc. raised its stake in shares of Camden National by 7.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,559,400 shares of the financial services provider’s stock worth $60,177,000 after buying an additional 113,221 shares during the period. Wellington Management Group LLP raised its stake in shares of Camden National by 70.4% during the 4th quarter. Wellington Management Group LLP now owns 220,382 shares of the financial services provider’s stock worth $9,560,000 after buying an additional 91,018 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of 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 valued at $2,791,000 after buying an additional 62,131 shares in the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CAC. National Bank Financial set a $55.00 price target on shares of Camden National in a research note on Thursday, July 30th. Raymond James Financial increased their price objective on shares of Camden National from $56.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Keefe, Bruyette & Woods lifted their target price on shares of Camden National from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Camden National in a research note on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.25.

Camden National Stock Performance

Shares of NASDAQ:CAC opened at $56.88 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.82. The business’s 50 day moving average price is $55.44 and its 200-day moving average price is $51.08. The firm has a market capitalization of $961.27 million, a PE ratio of 10.90 and a beta of 0.55. Camden National Corporation has a 1 year low of $35.00 and a 1 year high of $60.59.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.29 by $0.06. The firm had revenue of $67.41 million during the quarter, compared to the consensus estimate of $66.41 million. Camden National had a return on equity of 12.59% and a net margin of 23.64%. As a group, equities research analysts expect that Camden National Corporation will post 5.43 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Wednesday, July 15th. Camden National’s dividend payout ratio is 32.18%.

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.