Legato Capital Management LLC Reduces Position in Camden National Corporation $CAC

Legato Capital Management LLC trimmed its position in shares of Camden National Corporation (NASDAQ:CAC) by 50.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,904 shares of the financial services provider’s stock after selling 12,038 shares during the period. Legato Capital Management LLC’s holdings in Camden National were worth $459,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new position in shares of Camden National during the third quarter valued at approximately $26,000. CWM LLC lifted its stake in shares of Camden National by 287.8% during the 3rd quarter. CWM LLC now owns 3,141 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 2,331 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of Camden National by 45.7% during the 2nd quarter. Quantbot Technologies LP now owns 3,167 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 993 shares during the last quarter. SG Americas Securities LLC purchased a new position in Camden National during the 3rd quarter valued at $132,000. Finally, Lazard Asset Management LLC bought a new position in Camden National in the 2nd quarter valued at $136,000. Institutional investors own 77.41% of the company’s stock.

Camden National Stock Performance

CAC stock opened at $47.25 on Thursday. Camden National Corporation has a 1-year low of $34.53 and a 1-year high of $51.57. The business has a 50-day moving average price of $46.86 and a 200 day moving average price of $42.44. The company has a market capitalization of $799.56 million, a P/E ratio of 12.30 and a beta of 0.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.81 and a quick ratio of 0.81.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.01. Camden National had a net margin of 17.46% and a return on equity of 11.39%. The business had revenue of $68.05 million for the quarter, compared to the consensus estimate of $66.40 million. As a group, equities research analysts forecast that Camden National Corporation will post 4.25 EPS for the current fiscal year.

Camden National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Thursday, January 15th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, January 15th. Camden National’s dividend payout ratio (DPR) is presently 43.75%.

Analyst Ratings Changes

A number of analysts have weighed in on CAC shares. Weiss Ratings upgraded Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 19th. National Bank Financial set a $47.00 price target on shares of Camden National in a report on Wednesday, January 28th. Stephens reiterated an “equal weight” rating and set a $53.00 price objective on shares of Camden National in a report on Thursday, February 5th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Camden National from $45.00 to $47.00 and gave the company a “market perform” rating in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Camden National has an average rating of “Hold” and an average price target of $49.00.

Camden National Profile

Camden National Corporation is a bank holding company headquartered in Camden, Maine. Through its primary subsidiary, Camden National Bank, the company provides a full range of community banking services to individuals and businesses. Its branch network spans much of the State of Maine, with a concentration in the midcoast, central and southern regions.

The company’s offerings include deposit products such as checking, savings and money market accounts, along with consumer and commercial lending services.