UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 3,682 Shares of Camden National Co. (NASDAQ:CAC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Camden National Co. (NASDAQ:CAC) by 15.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,778 shares of the financial services provider’s stock after purchasing an additional 3,682 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.19% of Camden National worth $1,148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Rhumbline Advisers raised its holdings in Camden National by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock valued at $762,000 after buying an additional 319 shares during the last quarter. US Bancorp DE increased its position in Camden National by 2.9% in the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after acquiring an additional 319 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Camden National by 0.6% during 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. Apollon Wealth Management LLC lifted its holdings in shares of Camden National by 3.0% during the third quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock worth $1,258,000 after purchasing an additional 900 shares during the period. Finally, Coston McIsaac & Partners grew its stake in shares of 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 last quarter. 77.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CAC. Keefe, Bruyette & Woods lifted their target price on Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com started coverage on Camden National in a research note on Wednesday. They issued a “hold” rating on the stock.

Camden National Price Performance

CAC stock opened at $42.65 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The firm has a market cap of $621.71 million, a price-to-earnings ratio of 13.33 and a beta of 0.75. The company’s fifty day simple moving average is $44.99 and its 200 day simple moving average is $39.58. Camden National Co. has a 12-month low of $28.62 and a 12-month high of $50.07.

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

Camden National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Wednesday, January 15th. Camden National’s payout ratio is 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.