Northern Trust Corp Increases Stake in Camden National Co. (NASDAQ:CAC)

Northern Trust Corp increased its stake in Camden National Co. (NASDAQ:CAC) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,796 shares of the financial services provider’s stock after purchasing an additional 6,724 shares during the quarter. Northern Trust Corp owned 0.99% of Camden National worth $6,189,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC acquired a new stake in shares of Camden National during the 4th quarter worth about $44,000. Federated Hermes Inc. bought a new stake in shares of Camden National in the fourth quarter worth $46,000. Nisa Investment Advisors LLC increased its stake in Camden National by 18,500.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 1,850 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Camden National during the fourth quarter valued at $103,000. Finally, Quantbot Technologies LP acquired a new position in shares of Camden National during the fourth quarter valued at $106,000. 77.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAC has been the subject of several research analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of Camden National from $48.00 to $47.00 and set a “market perform” rating for the company in a report on Wednesday, May 7th. StockNews.com began coverage on Camden National in a report on Monday. They issued a “hold” rating on the stock. Finally, Raymond James restated an “outperform” rating and issued a $53.00 price objective (up previously from $50.00) on shares of Camden National in a report on Wednesday, January 29th.

Camden National Price Performance

Shares of CAC stock opened at $41.23 on Tuesday. The company has a market capitalization of $696.21 million, a P/E ratio of 11.39 and a beta of 0.64. Camden National Co. has a 12 month low of $30.78 and a 12 month high of $50.07. The stock has a 50 day moving average of $39.42 and a two-hundred day moving average of $42.82. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.04). The company had revenue of $60.05 million for the quarter, compared to the consensus estimate of $57.63 million. Camden National had a net margin of 18.02% and a return on equity of 10.38%. As a group, equities analysts expect that Camden National Co. will post 4.25 EPS for the current year.

Camden National Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were given a dividend of $0.42 per share. The ex-dividend date was Tuesday, April 15th. This represents a $1.68 annualized dividend and a yield of 4.07%. Camden National’s dividend payout ratio (DPR) is 53.50%.

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.