Camden National Co. (NASDAQ:CAC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in Camden National Co. (NASDAQ:CAC) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 201,646 shares of the financial services provider’s stock after selling 8,483 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Camden National were worth $8,332,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in Camden National by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock valued at $4,876,000 after buying an additional 674 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Camden National during the third quarter valued at approximately $659,000. Segall Bryant & Hamill LLC bought a new stake in Camden National during the third quarter worth approximately $1,729,000. Empowered Funds LLC lifted its position in Camden National by 5.2% in the third quarter. Empowered Funds LLC now owns 37,892 shares of the financial services provider’s stock worth $1,566,000 after purchasing an additional 1,876 shares during the period. Finally, Apollon Wealth Management LLC boosted its stake in Camden National by 3.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock valued at $1,258,000 after purchasing an additional 900 shares in the last quarter. 77.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on CAC. StockNews.com assumed coverage on shares of Camden National in a research report on Monday. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods raised their target price on shares of Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a report on Wednesday, September 11th.

Camden National Trading Down 2.0 %

NASDAQ:CAC opened at $46.24 on Wednesday. The stock has a fifty day simple moving average of $43.62 and a 200 day simple moving average of $38.57. The firm has a market capitalization of $674.18 million, a price-to-earnings ratio of 14.45 and a beta of 0.75. Camden National Co. has a 1-year low of $28.62 and a 1-year high of $50.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The business had revenue of $75.13 million for the quarter, compared to the consensus estimate of $43.90 million. During the same period last year, the firm posted $0.96 earnings per share. Sell-side analysts forecast that Camden National Co. will post 3.45 earnings per share for the current year.

Camden National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a $0.42 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.63%. Camden National’s dividend payout ratio (DPR) is presently 52.50%.

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.