Inspire Investing LLC Purchases Shares of 10,585 Camden National Co. (NASDAQ:CAC)

Inspire Investing LLC bought a new position in shares of Camden National Co. (NASDAQ:CAC) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 10,585 shares of the financial services provider’s stock, valued at approximately $349,000. Inspire Investing LLC owned 0.07% of Camden National as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Rhumbline Advisers raised its position in shares of Camden National by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock valued at $762,000 after purchasing an additional 319 shares in the last quarter. Empowered Funds LLC boosted its stake in Camden National by 7.9% during the first quarter. Empowered Funds LLC now owns 33,496 shares of the financial services provider’s stock valued at $1,123,000 after buying an additional 2,450 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Camden National by 89.3% during the first quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock valued at $237,000 after buying an additional 3,330 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Camden National by 1.3% during the second quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock valued at $9,313,000 after buying an additional 3,600 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Camden National by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 90,944 shares of the financial services provider’s stock valued at $3,001,000 after purchasing an additional 3,937 shares during the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Camden National Stock Performance

Shares of NASDAQ CAC opened at $39.39 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average is $38.57 and its two-hundred day moving average is $34.26. The company has a market cap of $575.37 million, a P/E ratio of 13.09 and a beta of 0.72. Camden National Co. has a 12 month low of $26.52 and a 12 month high of $43.44.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.10. The business had revenue of $72.81 million for the quarter, compared to analysts’ expectations of $41.07 million. Camden National had a return on equity of 10.36% and a net margin of 16.01%. During the same period in the previous year, the business posted $0.85 earnings per share. On average, equities analysts expect that Camden National Co. will post 3.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CAC. Keefe, Bruyette & Woods upped their target price on Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a report on Wednesday, September 11th. Stephens lifted their price target on Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Finally, StockNews.com assumed coverage on Camden National in a research note on Saturday. They issued a “hold” rating on the stock.

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.