Swiss National Bank Has $1.26 Million Stock Position in Camden National Corporation $CAC

Swiss National Bank increased its position in shares of Camden National Corporation (NASDAQ:CAC) by 8.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,061 shares of the financial services provider’s stock after purchasing an additional 2,400 shares during the quarter. Swiss National Bank owned approximately 0.18% of Camden National worth $1,257,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. CWM LLC increased its position in shares of Camden National by 65.4% during the 1st quarter. CWM LLC now owns 837 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 331 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Camden National during the 4th quarter worth about $44,000. Eastern Bank acquired a new stake in shares of Camden National during the 1st quarter worth about $50,000. Tower Research Capital LLC TRC increased its position in shares of Camden National by 22.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,901 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 523 shares in the last quarter. Finally, KLP Kapitalforvaltning AS increased its position in shares of Camden National by 29.2% during the 1st quarter. KLP Kapitalforvaltning AS now owns 3,100 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 700 shares in the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wall Street Zen initiated coverage on shares of Camden National in a research report on Monday, May 19th. They set a “hold” rating for the company. Keefe, Bruyette & Woods lowered 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 research report on Wednesday, May 7th. Zacks Research upgraded shares of Camden National to a “hold” rating in a research report on Tuesday, August 12th. Finally, Stephens upgraded shares of Camden National from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $49.00 to $44.00 in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Camden National Stock Down 0.6%

Shares of NASDAQ CAC opened at $40.46 on Tuesday. The firm has a market capitalization of $684.58 million, a PE ratio of 12.80 and a beta of 0.66. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. Camden National Corporation has a 1 year low of $34.53 and a 1 year high of $50.07. The firm’s 50-day moving average is $40.16 and its 200-day moving average is $40.33.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.23). The business had revenue of $69.82 million during the quarter, compared to the consensus estimate of $61.04 million. Camden National had a net margin of 14.77% and a return on equity of 10.19%. Equities analysts expect that Camden National Corporation will post 4.25 EPS for the current year.

Camden National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, July 15th. Camden National’s dividend payout ratio (DPR) is 53.16%.

Camden National 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.