Davis R M Inc. Takes Position in Camden National Co. (NASDAQ:CAC)

Davis R M Inc. bought a new stake in Camden National Co. (NASDAQ:CAC) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 94,964 shares of the financial services provider’s stock, valued at approximately $4,059,000. Davis R M Inc. owned about 0.65% of Camden National as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Camden National by 1.2% in the third quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock valued at $14,236,000 after purchasing an additional 4,067 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Camden National by 53.6% in the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock valued at $11,731,000 after purchasing an additional 99,097 shares during the period. Bryn Mawr Capital Management LLC purchased a new stake in shares of Camden National in the fourth quarter valued at about $6,811,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Camden National by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 118,716 shares of the financial services provider’s stock valued at $5,074,000 after purchasing an additional 721 shares during the period. Finally, Camden National Bank grew its holdings in shares of Camden National by 3.2% in the fourth quarter. Camden National Bank now owns 96,537 shares of the financial services provider’s stock valued at $4,126,000 after purchasing an additional 2,955 shares during the period. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. Raymond James reaffirmed an “outperform” rating and set a $53.00 target price (up previously from $50.00) on shares of Camden National in a research note on Wednesday, January 29th. Finally, StockNews.com started coverage on shares of Camden National in a research note on Saturday. They set a “hold” rating for the company.

Camden National Trading Down 2.9 %

Shares of CAC stock opened at $40.28 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $587.16 million, a PE ratio of 11.13 and a beta of 0.73. The company has a 50-day moving average of $43.70 and a two-hundred day moving average of $43.08. Camden National Co. has a 1-year low of $28.62 and a 1-year high of $50.07.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same quarter last year, the firm earned $0.85 earnings per share. On average, analysts predict that Camden National Co. will post 4.25 EPS for the current year.

Camden National Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 4.17%. Camden National’s dividend payout ratio is presently 46.41%.

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.