Camden National Co. (CAC) Holdings Lifted by BlackRock Inc.

BlackRock Inc. raised its holdings in shares of Camden National Co. (NASDAQ:CAC) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,087,795 shares of the financial services provider’s stock after buying an additional 1,982 shares during the period. BlackRock Inc. owned about 7.01% of Camden National worth $45,829,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Eagle Asset Management Inc. boosted its holdings in shares of Camden National by 2.3% in the fourth quarter. Eagle Asset Management Inc. now owns 60,205 shares of the financial services provider’s stock valued at $2,536,000 after purchasing an additional 1,348 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Camden National by 9.2% in the fourth quarter. Wells Fargo & Company MN now owns 51,390 shares of the financial services provider’s stock valued at $2,165,000 after purchasing an additional 4,348 shares during the period. Putnam FL Investment Management Co. purchased a new stake in shares of Camden National in the fourth quarter valued at approximately $399,000. Teacher Retirement System of Texas purchased a new stake in shares of Camden National in the fourth quarter valued at approximately $225,000. Finally, Monarch Partners Asset Management LLC boosted its holdings in shares of Camden National by 14.9% in the fourth quarter. Monarch Partners Asset Management LLC now owns 15,260 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 1,980 shares during the period. Institutional investors and hedge funds own 64.69% of the company’s stock.

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Shares of CAC stock opened at $43.89 on Friday. The firm has a market cap of $701.52, a PE ratio of 16.08 and a beta of 0.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.80 and a current ratio of 0.80. Camden National Co. has a 12-month low of $37.10 and a 12-month high of $47.41.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $39.50 million for the quarter. Camden National had a return on equity of 10.54% and a net margin of 16.30%. analysts predict that Camden National Co. will post 3.42 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Thursday, April 12th. Camden National’s payout ratio is presently 36.63%.

In other Camden National news, CEO Gregory A. Dufour purchased 1,810 shares of Camden National stock in a transaction dated Thursday, March 15th. The shares were acquired at an average cost of $30.15 per share, with a total value of $54,571.50. Following the completion of the transaction, the chief executive officer now owns 85,725 shares in the company, valued at approximately $2,584,608.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Deborah A. Jordan purchased 961 shares of Camden National stock in a transaction dated Thursday, March 15th. The shares were acquired at an average cost of $30.15 per share, for a total transaction of $28,974.15. Following the completion of the transaction, the chief financial officer now owns 51,702 shares of the company’s stock, valued at approximately $1,558,815.30. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 3,308 shares of company stock worth $99,736. Insiders own 2.34% of the company’s stock.

A number of brokerages recently commented on CAC. BidaskClub raised shares of Camden National from a “hold” rating to a “buy” rating in a research note on Friday, March 30th. ValuEngine downgraded shares of Camden National from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Piper Jaffray boosted their price objective on shares of Camden National from $50.50 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $48.00 price objective on shares of Camden National in a research note on Friday, December 22nd.

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Camden National Profile

Camden National Corporation is a bank holding company. The Company is a diversified financial services provider. The primary business of the Company and its subsidiary, Camden National Bank (the Bank), is to attract deposits from, and to extend loans to, consumer, institutional, municipal, non-profit and commercial customers.

Institutional Ownership by Quarter for Camden National (NASDAQ:CAC)

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