Northwestern Mutual Wealth Management Co. Makes New Investment in Camden National Co. (NASDAQ:CAC)

Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Camden National Co. (NASDAQ:CAC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,217 shares of the financial services provider’s stock, valued at approximately $73,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CAC. Dimensional Fund Advisors LP lifted its position in 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 purchasing an additional 26,450 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Camden National by 1.3% in 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 during the period. ProShare Advisors LLC boosted its stake in Camden National by 13.2% during the first 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 in the last quarter. LSV Asset Management grew its holdings in Camden National by 8.4% during the second quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock worth $7,874,000 after acquiring an additional 18,517 shares during the period. Finally, American Century Companies Inc. raised its position in Camden National by 11.1% in the second quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider’s stock worth $6,029,000 after acquiring an additional 18,294 shares in the last quarter. 77.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CAC has been the topic of several recent research reports. Stephens lifted 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. StockNews.com began coverage on Camden National in a report on Monday, October 7th. They issued a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods raised their price objective on Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 11th.

Camden National Stock Performance

Shares of CAC opened at $41.42 on Friday. The company has a 50-day moving average of $38.75 and a two-hundred day moving average of $34.99. The stock has a market cap of $605.02 million, a price-to-earnings ratio of 13.76 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.81. Camden National Co. has a one year low of $26.52 and a one year high of $43.44.

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

Camden National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.06%. Camden National’s dividend payout ratio is 55.81%.

Camden National 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.