Intech Investment Management LLC Invests $259,000 in Camden National Co. (NASDAQ:CAC)

Intech Investment Management LLC bought a new stake in shares of Camden National Co. (NASDAQ:CAC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,059 shares of the financial services provider’s stock, valued at approximately $259,000.

Other hedge funds have also recently made changes to their positions in the company. US Bancorp DE boosted its position in Camden National by 2.8% in the 4th quarter. US Bancorp DE now owns 11,474 shares of the financial services provider’s stock valued at $490,000 after buying an additional 308 shares during the period. Rhumbline Advisers boosted its holdings in shares of Camden National by 1.8% in the fourth quarter. Rhumbline Advisers now owns 23,204 shares of the financial services provider’s stock valued at $992,000 after purchasing an additional 415 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Camden National by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock worth $4,876,000 after purchasing an additional 674 shares in the last quarter. Coston McIsaac & Partners increased its holdings in Camden National by 11.8% during the 4th quarter. Coston McIsaac & Partners now owns 12,997 shares of the financial services provider’s stock worth $555,000 after purchasing an additional 1,376 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Camden National by 1.7% during the 4th quarter. Bank of New York Mellon Corp now owns 88,236 shares of the financial services provider’s stock worth $3,771,000 after purchasing an additional 1,515 shares during the period. 77.41% of the stock is currently owned by institutional investors.

Camden National Stock Down 0.1 %

NASDAQ:CAC opened at $41.50 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $699.90 million, a P/E ratio of 11.46 and a beta of 0.73. The company’s 50-day simple moving average is $43.45 and its 200-day simple moving average is $43.21. Camden National Co. has a fifty-two week low of $28.62 and a fifty-two week high of $50.07.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping 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 period last year, the company earned $0.85 EPS. On average, equities analysts anticipate that Camden National Co. will post 4.25 earnings per share for the current fiscal year.

Camden National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Tuesday, April 15th. Camden National’s dividend payout ratio (DPR) is presently 46.41%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CAC. Keefe, Bruyette & Woods raised their price target on Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. StockNews.com began coverage on shares of Camden National in a report on Monday. They issued a “hold” rating for the company. Finally, Raymond James reaffirmed an “outperform” rating and issued a $53.00 price target (up previously from $50.00) on shares of Camden National in a research report on Wednesday, January 29th.

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.