Inspire Investing LLC Sells 612 Shares of Camden National Co. (NASDAQ:CAC)

Inspire Investing LLC lowered its stake in shares of Camden National Co. (NASDAQ:CAC) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,414 shares of the financial services provider’s stock after selling 612 shares during the quarter. Inspire Investing LLC owned approximately 0.06% of Camden National worth $402,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Kimelman & Baird LLC purchased a new stake in shares of Camden National during the 2nd quarter worth approximately $4,943,000. JPMorgan Chase & Co. increased its position in Camden National by 53.6% in the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock worth $11,731,000 after buying an additional 99,097 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Camden National in the third quarter valued at $1,729,000. Dimensional Fund Advisors LP raised its stake in shares of Camden National by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock valued at $27,605,000 after buying an additional 26,450 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Camden National by 194.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 33,344 shares of the financial services provider’s stock valued at $1,378,000 after buying an additional 22,007 shares during the last quarter. Institutional investors own 77.41% of the company’s stock.

Camden National Price Performance

Shares of NASDAQ:CAC opened at $43.80 on Friday. Camden National Co. has a 12 month low of $28.62 and a 12 month high of $50.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The stock has a market cap of $638.60 million, a P/E ratio of 13.69 and a beta of 0.76. The company has a 50 day moving average of $44.61 and a 200 day moving average of $41.64.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.11. The firm had revenue of $75.13 million for the quarter, compared to analysts’ expectations of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 9.95%. During the same quarter in the prior year, the firm posted $0.96 earnings per share. As a group, sell-side analysts forecast that Camden National Co. will post 3.49 EPS for the current fiscal year.

Camden National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.84%. Camden National’s dividend payout ratio (DPR) is presently 52.50%.

Wall Street Analysts Forecast Growth

CAC has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Raymond James upgraded shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Friday, December 20th. Finally, StockNews.com initiated coverage on Camden National in a research report on Sunday, January 19th. They set a “hold” rating on the stock.

Camden National 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.