Apollon Wealth Management LLC Buys 900 Shares of Camden National Co. (NASDAQ:CAC)

Apollon Wealth Management LLC lifted its position in shares of Camden National Co. (NASDAQ:CAC) by 3.0% in the third quarter, HoldingsChannel.com reports. The firm owned 30,435 shares of the financial services provider’s stock after purchasing an additional 900 shares during the period. Apollon Wealth Management LLC’s holdings in Camden National were worth $1,258,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Camden National during the second quarter worth about $73,000. BNP Paribas Financial Markets boosted its holdings in shares of Camden National by 89.3% during the first quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 3,330 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Camden National by 58.1% during the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 2,602 shares during the period. Inspire Investing LLC purchased a new stake in Camden National in the second quarter worth about $349,000. Finally, US Bancorp DE lifted its holdings in Camden National by 2.9% in the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock worth $461,000 after buying an additional 319 shares during the period. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on CAC shares. Stephens raised their price objective on shares of Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods raised their price objective on shares of Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a report on Wednesday, September 11th. Finally, StockNews.com started coverage on shares of Camden National in a report on Friday, November 8th. They issued a “hold” rating for the company.

Camden National Price Performance

CAC stock opened at $47.49 on Friday. The firm has a 50 day moving average price of $41.30 and a 200-day moving average price of $37.07. Camden National Co. has a 52-week low of $28.62 and a 52-week high of $50.07. The firm has a market capitalization of $692.40 million, a price-to-earnings ratio of 14.84 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.81 and a current ratio of 0.82.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The firm had revenue of $75.13 million during the quarter, compared to analyst estimates of $43.90 million. During the same period last year, the business earned $0.96 earnings per share. Equities research analysts forecast that Camden National Co. will post 3.45 EPS for the current fiscal year.

Camden National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.42 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.54%. Camden National’s payout ratio is 52.50%.

About Camden National

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.