BNP Paribas Financial Markets Lowers Position in Camden National Co. (NASDAQ:CAC)

BNP Paribas Financial Markets lowered its stake in shares of Camden National Co. (NASDAQ:CAC) by 6.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,083 shares of the financial services provider’s stock after selling 296 shares during the period. BNP Paribas Financial Markets’ holdings in Camden National were worth $169,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CAC. Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $4,876,000 after acquiring an additional 674 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Camden National in the 3rd quarter valued at about $659,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Camden National during the 3rd quarter worth about $1,729,000. Empowered Funds LLC increased its position in Camden National by 5.2% during the 3rd 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 in the last quarter. Finally, Apollon Wealth Management LLC raised its holdings in Camden National by 3.0% in the third quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock valued at $1,258,000 after buying an additional 900 shares during the period. Institutional investors and hedge funds own 77.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Camden National in a research report on Wednesday. They issued a “hold” rating for the company. Keefe, Bruyette & Woods increased their price target on Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Camden National Stock Performance

Camden National stock opened at $44.96 on Wednesday. The firm has a market capitalization of $655.38 million, a PE ratio of 14.05 and a beta of 0.75. Camden National Co. has a one year low of $28.62 and a one year high of $50.07. The stock’s 50 day moving average price is $44.94 and its 200 day moving average price is $39.55. 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 (NASDAQ:CAC) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. The business had revenue of $75.13 million for the quarter, compared to analysts’ expectations of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 9.95%. During the same period in the previous year, the company posted $0.96 earnings per share. As a group, sell-side analysts expect that Camden National Co. will post 3.49 EPS for the current fiscal year.

Camden National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 dividend on an annualized basis and a yield of 3.74%. Camden National’s payout ratio is currently 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.