Quantbot Technologies LP Takes Position in Camden National Co. (NASDAQ:CAC)

Quantbot Technologies LP acquired a new position in Camden National Co. (NASDAQ:CAC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,489 shares of the financial services provider’s stock, valued at approximately $106,000.

Several other large investors have also added to or reduced their stakes in the business. US Bancorp DE lifted its position in Camden National by 2.8% during the 4th quarter. US Bancorp DE now owns 11,474 shares of the financial services provider’s stock worth $490,000 after buying an additional 308 shares in the last quarter. Rhumbline Advisers increased its position 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 acquiring an additional 415 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Camden National by 0.6% during 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 acquiring an additional 674 shares in the last quarter. Coston McIsaac & Partners boosted its position in Camden National by 11.8% during the fourth quarter. Coston McIsaac & Partners now owns 12,997 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 1,376 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Camden National by 1.7% during the fourth quarter. Bank of New York Mellon Corp now owns 88,236 shares of the financial services provider’s stock valued at $3,771,000 after purchasing an additional 1,515 shares during the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

Analyst Ratings Changes

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

Camden National Stock Performance

Shares of NASDAQ CAC opened at $40.47 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $682.53 million, a P/E ratio of 11.18 and a beta of 0.73. Camden National Co. has a 12 month low of $28.62 and a 12 month high of $50.07. The stock has a 50 day moving average of $43.26 and a 200-day moving average of $43.31.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates 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 business earned $0.85 earnings per share. As a group, equities research analysts predict that Camden National Co. will post 4.25 EPS for the current year.

Camden National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a $0.42 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $1.68 annualized dividend and a yield of 4.15%. Camden National’s dividend payout ratio is currently 46.41%.

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.