Corton Capital Inc. Buys Shares of 5,197 Camden National Co. (NASDAQ:CAC)

Corton Capital Inc. acquired a new stake in Camden National Co. (NASDAQ:CAC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,197 shares of the financial services provider’s stock, valued at approximately $222,000.

A number of other hedge funds have also recently made changes to their positions in the company. Aquatic Capital Management LLC bought a new stake in Camden National in the fourth quarter worth $44,000. Federated Hermes Inc. purchased a new position in shares of Camden National in the fourth quarter worth $46,000. Nisa Investment Advisors LLC increased its stake in Camden National by 18,500.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 1,850 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Camden National in the 4th quarter valued at about $103,000. Finally, Quantbot Technologies LP bought a new position in Camden National during the 4th quarter valued at about $106,000. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAC has been the subject of several research reports. StockNews.com assumed coverage on shares of Camden National in a research report on Saturday, May 3rd. They issued a “hold” rating for the company. Raymond James restated an “outperform” rating and issued a $53.00 price objective (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Camden National from $48.00 to $47.00 and set a “market perform” rating for the company in a report on Wednesday.

Camden National Stock Performance

CAC opened at $39.29 on Thursday. The stock has a market cap of $663.37 million, a P/E ratio of 10.85 and a beta of 0.64. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. Camden National Co. has a 1-year low of $30.78 and a 1-year high of $50.07. The stock’s 50 day simple moving average is $39.53 and its 200 day simple moving average is $42.83.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, May 6th. The financial services provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.04). Camden National had a return on equity of 10.38% and a net margin of 18.02%. The business had revenue of $60.05 million for the quarter, compared to analysts’ expectations of $57.63 million. As a group, equities analysts anticipate that Camden National Co. will post 4.25 EPS for the current fiscal year.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were paid a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $1.68 dividend on an annualized basis and a yield of 4.28%. Camden National’s dividend payout ratio (DPR) is 46.41%.

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.