Noesis Capital Mangement Corp Sells 2,500 Shares of Camden National Corporation $CAC

Noesis Capital Mangement Corp cut its holdings in shares of Camden National Corporation (NASDAQ:CAC) by 19.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,326 shares of the financial services provider’s stock after selling 2,500 shares during the period. Noesis Capital Mangement Corp owned about 0.06% of Camden National worth $419,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new stake in Camden National during the 1st quarter worth approximately $458,000. HighTower Advisors LLC grew its position in Camden National by 4.1% during the 1st quarter. HighTower Advisors LLC now owns 7,811 shares of the financial services provider’s stock worth $316,000 after acquiring an additional 311 shares during the last quarter. Delphi Management Inc. MA grew its position in Camden National by 158.5% during the 2nd quarter. Delphi Management Inc. MA now owns 31,788 shares of the financial services provider’s stock worth $1,290,000 after acquiring an additional 19,493 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Camden National by 15.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,567 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 350 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Camden National by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 92,084 shares of the financial services provider’s stock worth $3,727,000 after acquiring an additional 3,848 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors.

Camden National Stock Performance

CAC stock opened at $38.81 on Thursday. The business’s fifty day moving average is $39.04 and its 200-day moving average is $39.52. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.09. The company has a market cap of $656.67 million, a P/E ratio of 11.06 and a beta of 0.64. Camden National Corporation has a twelve month low of $34.53 and a twelve month high of $50.07.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.01. The company had revenue of $65.40 million for the quarter, compared to the consensus estimate of $63.20 million. Camden National had a return on equity of 11.06% and a net margin of 16.24%. Equities research analysts forecast that Camden National Corporation will post 4.25 EPS for the current year.

Camden National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.3%. Camden National’s dividend payout ratio is 53.16%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods increased their price target on Camden National from $44.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday. National Bankshares set a $45.00 price objective on Camden National in a report on Wednesday. Stephens raised Camden National from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $49.00 to $44.00 in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Camden National in a report on Tuesday, October 14th. Finally, Zacks Research raised Camden National to a “hold” rating in a report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $46.75.

Camden National Company 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.