Empowered Funds LLC Raises Stock Holdings in Camden National Co. (NASDAQ:CAC)

Empowered Funds LLC lifted its holdings in Camden National Co. (NASDAQ:CAC) by 5.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,892 shares of the financial services provider’s stock after purchasing an additional 1,876 shares during the quarter. Empowered Funds LLC owned 0.26% of Camden National worth $1,566,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Camden National during the second quarter valued at approximately $73,000. BNP Paribas Financial Markets increased its holdings in Camden National by 89.3% during the 1st quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 3,330 shares during the period. SG Americas Securities LLC raised its position in Camden National by 58.1% during the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 2,602 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Camden National in the 2nd quarter worth $349,000. Finally, US Bancorp DE grew its position in shares of Camden National by 2.9% during the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock worth $461,000 after buying an additional 319 shares in the last quarter. Institutional investors own 77.41% of the company’s stock.

Camden National Stock Performance

CAC stock opened at $46.76 on Friday. Camden National Co. has a one year low of $28.62 and a one year high of $50.07. The firm has a market cap of $681.55 million, a price-to-earnings ratio of 14.61 and a beta of 0.72. 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 firm has a 50-day simple moving average of $42.18 and a two-hundred day simple moving average of $37.60.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The company had revenue of $75.13 million during the quarter, compared to analysts’ expectations of $43.90 million. During the same quarter in the prior year, the company posted $0.96 earnings per share. On average, equities analysts forecast that Camden National Co. will post 3.45 EPS for the current fiscal year.

Camden National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.68 annualized dividend and a yield of 3.59%. Camden National’s dividend payout ratio (DPR) is 52.50%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CAC. Keefe, Bruyette & Woods upped their price objective on shares of Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 11th. Stephens increased their price objective on shares of Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, StockNews.com started coverage on shares of Camden National in a research note on Saturday, November 16th. They issued a “hold” rating for the company.

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.