Camden National Co. (NASDAQ:CAC) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Camden National Co. (NASDAQ:CAC) by 54.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 24,572 shares of the financial services provider’s stock after purchasing an additional 8,619 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Camden National were worth $1,050,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its position in shares of Camden National by 18,500.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 1,850 shares during the last quarter. AlphaQuest LLC raised its position in shares of Camden National by 2,615.3% during the 4th quarter. AlphaQuest LLC now owns 4,263 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 4,106 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Camden National during the 4th quarter worth approximately $210,000. Bryn Mawr Capital Management LLC acquired a new position in shares of Camden National during the 4th quarter worth approximately $247,000. Finally, Foundations Investment Advisors LLC acquired a new position in shares of Camden National during the 4th quarter worth approximately $280,000. 77.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAC has been the subject of several research reports. StockNews.com began coverage on Camden National in a research report on Sunday, March 16th. They set a “hold” rating for the company. Keefe, Bruyette & Woods lifted their target price on shares of Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $53.00 target price (up from $50.00) on shares of Camden National in a research note on Wednesday, January 29th.

Camden National Stock Down 0.9 %

CAC stock opened at $41.44 on Friday. The stock has a market capitalization of $698.89 million, a P/E ratio of 11.45 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. Camden National Co. has a one year low of $28.62 and a one year high of $50.07. The company has a 50 day moving average price of $43.55 and a two-hundred day moving average price of $43.11.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same quarter in the previous year, the firm posted $0.85 earnings per share. As a group, sell-side analysts expect that Camden National Co. will post 4.25 EPS 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.