Globeflex Capital L P Grows Stock Holdings in Camden National Corporation $CAC

Globeflex Capital L P grew its holdings in shares of Camden National Corporation (NASDAQ:CAC) by 87.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 28,948 shares of the financial services provider’s stock after purchasing an additional 13,486 shares during the period. Globeflex Capital L P’s holdings in Camden National were worth $1,256,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings 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 during the last quarter. Advisory Services Network LLC purchased a new position in shares of Camden National during the third quarter valued at approximately $58,000. Nisa Investment Advisors LLC increased its position 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 acquiring an additional 1,522 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Camden National during the fourth quarter valued at approximately $126,000. Finally, Aquatic Capital Management LLC increased its position in shares of Camden National by 33.5% during the third quarter. Aquatic Capital Management LLC now owns 3,153 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 791 shares in the last quarter. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

Camden National Trading Up 4.0%

NASDAQ:CAC opened at $50.38 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09. Camden National Corporation has a 12 month low of $35.00 and a 12 month high of $53.71. The company has a market cap of $852.18 million, a PE ratio of 10.72 and a beta of 0.56. The company has a 50 day simple moving average of $49.10 and a two-hundred day simple moving average of $46.69.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, April 28th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. Camden National had a net margin of 21.32% and a return on equity of 11.78%. The business had revenue of $64.34 million during the quarter, compared to the consensus estimate of $65.57 million. Research analysts forecast that Camden National Corporation will post 5.39 earnings per share for the current year.

Camden National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, April 15th. Camden National’s payout ratio is 35.74%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CAC. Raymond James Financial reissued an “outperform” rating and set a $56.00 price target on shares of Camden National in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods raised their price target on shares of Camden National from $47.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Weiss Ratings raised shares of Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 19th. Stephens reissued an “equal weight” rating and set a $53.00 price target on shares of Camden National in a research report on Thursday, February 5th. Finally, National Bank Financial set a $50.00 price target on shares of Camden National in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $52.25.

About Camden National

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.