Camden National Co. (NASDAQ:CAC) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its position in Camden National Co. (NASDAQ:CAC) by 53.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 283,911 shares of the financial services provider’s stock after acquiring an additional 99,097 shares during the quarter. JPMorgan Chase & Co.’s holdings in Camden National were worth $11,731,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Camden National during the second quarter valued at $73,000. SG Americas Securities LLC grew its stake in shares of Camden National by 58.1% in the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 2,602 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of Camden National during the second quarter valued at $349,000. US Bancorp DE raised its stake in shares of Camden National by 2.9% during the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 319 shares in the last quarter. Finally, Coston McIsaac & Partners lifted its holdings in Camden National by 18.6% in the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock worth $480,000 after purchasing an additional 1,819 shares during the period. 77.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CAC shares. Keefe, Bruyette & Woods increased their price objective on shares of Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Raymond James raised shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Friday, December 20th. Finally, StockNews.com initiated coverage on shares of Camden National in a research report on Saturday. They issued a “hold” rating on the stock.

Camden National Trading Down 0.6 %

Shares of CAC opened at $41.51 on Monday. Camden National Co. has a 1-year low of $28.62 and a 1-year high of $50.07. The business’s 50-day moving average price is $45.29 and its 200 day moving average price is $40.91. 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 stock has a market capitalization of $605.09 million, a P/E ratio of 12.97 and a beta of 0.76.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. The business had revenue of $75.13 million for the quarter, compared to the consensus estimate of $43.90 million. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same quarter in the previous year, the company posted $0.96 earnings per share. Analysts expect that Camden National Co. will post 3.49 earnings per share for the current year.

Camden National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a $0.42 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a yield of 4.05%. Camden National’s payout ratio is 52.50%.

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.