Camden National Co. (NASDAQ:CAC) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. increased its position in shares of Camden National Co. (NASDAQ:CAC) by 11.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,690 shares of the financial services provider’s stock after purchasing an additional 18,294 shares during the period. American Century Companies Inc.’s holdings in Camden National were worth $6,029,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Rhumbline Advisers grew its stake in shares of Camden National by 1.4% during the second quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock worth $762,000 after purchasing an additional 319 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Camden National by 7.9% during the first quarter. Empowered Funds LLC now owns 33,496 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 2,450 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of 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 worth $237,000 after purchasing an additional 3,330 shares in the last quarter. Bank of New York Mellon Corp grew its stake 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 worth $3,001,000 after purchasing an additional 3,937 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Camden National by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider’s stock valued at $546,000 after acquiring an additional 4,907 shares in the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CAC shares. Keefe, Bruyette & Woods upped their price objective on shares of Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th. StockNews.com started coverage on shares of Camden National in a research note on Saturday. They issued a “hold” rating for the company. Finally, Stephens upped their price objective on shares of Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd.

Camden National Price Performance

Shares of CAC opened at $39.62 on Wednesday. Camden National Co. has a fifty-two week low of $26.52 and a fifty-two week high of $43.44. The company has a market capitalization of $578.73 million, a price-to-earnings ratio of 13.16 and a beta of 0.72. The firm has a 50-day simple moving average of $38.58 and a 200-day simple moving average of $34.30. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.82.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.10. Camden National had a net margin of 16.01% and a return on equity of 10.36%. The business had revenue of $72.81 million during the quarter, compared to the consensus estimate of $41.07 million. During the same quarter in the prior year, the firm earned $0.85 earnings per share. On average, equities research analysts anticipate that Camden National Co. will post 3.34 earnings per share for the current year.

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.