149,797 Shares in Camden National Co. (NASDAQ:CAC) Purchased by Kimelman & Baird LLC

Kimelman & Baird LLC bought a new position in Camden National Co. (NASDAQ:CAC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 149,797 shares of the financial services provider’s stock, valued at approximately $4,943,000. Kimelman & Baird LLC owned about 1.03% of Camden National as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of Camden National by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock worth $27,605,000 after acquiring an additional 26,450 shares during the period. Renaissance Technologies LLC grew its position in Camden National by 1.3% in the 2nd quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock worth $9,313,000 after purchasing an additional 3,600 shares during the period. ProShare Advisors LLC raised its stake in Camden National by 13.2% during the 1st quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock valued at $8,027,000 after buying an additional 28,007 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Camden National by 8.4% during the 2nd quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock valued at $7,874,000 after buying an additional 18,517 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Camden National by 11.1% in the 2nd quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider’s stock worth $6,029,000 after buying an additional 18,294 shares during the last quarter. Institutional investors own 77.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CAC shares. StockNews.com initiated coverage on Camden National in a report on Sunday. They issued a “hold” rating on the stock. Stephens increased their price objective on shares of Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, Keefe, Bruyette & Woods increased their price target on shares of Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 11th.

Camden National Price Performance

Shares of NASDAQ:CAC opened at $40.08 on Monday. The firm’s 50 day simple moving average is $38.69 and its two-hundred day simple moving average is $34.44. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.81. The company has a market capitalization of $585.45 million, a P/E ratio of 13.32 and a beta of 0.72. Camden National Co. has a 1-year low of $26.52 and a 1-year high of $43.44.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.71 by $0.10. Camden National had a return on equity of 10.36% and a net margin of 16.01%. The business had revenue of $72.81 million for the quarter, compared to the consensus estimate of $41.07 million. During the same period in the previous year, the business earned $0.85 earnings per share. Research analysts expect that Camden National Co. will post 3.33 EPS for the current fiscal year.

Camden National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Tuesday, October 15th. Camden National’s dividend payout ratio is presently 55.81%.

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.