Globeflex Capital L P Acquires 10,284 Shares of Camden National Corporation $CAC

Globeflex Capital L P lifted its holdings in Camden National Corporation (NASDAQ:CAC) by 35.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,232 shares of the financial services provider’s stock after buying an additional 10,284 shares during the quarter. Globeflex Capital L P owned approximately 0.23% of Camden National worth $1,862,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its position in Camden National by 106.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 878 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 452 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Camden National by 13,790.0% during the third quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 1,379 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Camden National during the third quarter valued at approximately $58,000. Nisa Investment Advisors LLC lifted its holdings in shares of Camden National by 15,220.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,532 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 1,522 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Camden National during the fourth quarter valued at approximately $92,000. 77.41% of the stock is owned by hedge funds and other institutional investors.

Camden National Stock Down 1.1%

Shares of Camden National stock opened at $53.63 on Thursday. The company has a 50-day simple moving average of $51.90 and a two-hundred day simple moving average of $49.17. The stock has a market capitalization of $907.42 million, a PE ratio of 11.41 and a beta of 0.55. Camden National Corporation has a 52-week low of $35.00 and a 52-week high of $56.22. 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 (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. The firm had revenue of $64.34 million for the quarter, compared to analysts’ expectations of $65.57 million. Camden National had a net margin of 21.32% and a return on equity of 11.78%. On average, analysts anticipate that Camden National Corporation will post 5.37 EPS for the current fiscal year.

Camden National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.1%. The ex-dividend date is Wednesday, July 15th. Camden National’s dividend payout ratio (DPR) is currently 35.74%.

Analyst Upgrades and Downgrades

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

Camden National Company 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.