Ipswich Investment Management Co. Inc. Makes New Investment in Camden National Co. (NASDAQ:CAC)

Ipswich Investment Management Co. Inc. acquired a new position in Camden National Co. (NASDAQ:CAC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 21,980 shares of the financial services provider’s stock, valued at approximately $759,000. Ipswich Investment Management Co. Inc. owned about 0.15% of Camden National at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Great West Life Assurance Co. Can purchased a new position in shares of Camden National during the 4th quarter valued at $47,000. Bank of Montreal Can raised its stake in shares of Camden National by 26.0% during the 4th quarter. Bank of Montreal Can now owns 2,629 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 542 shares during the period. Citigroup Inc. raised its stake in shares of Camden National by 33.4% during the 1st quarter. Citigroup Inc. now owns 4,658 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 1,166 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Camden National by 20.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,639 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 799 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of Camden National by 63.1% during the 1st quarter. SG Americas Securities LLC now owns 5,188 shares of the financial services provider’s stock valued at $163,000 after purchasing an additional 2,007 shares during the period. 66.32% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ CAC traded down $0.13 during trading on Thursday, reaching $32.06. The company’s stock had a trading volume of 803 shares, compared to its average volume of 66,568. The stock has a market capitalization of $487.23 million, a PE ratio of 8.77 and a beta of 0.99. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.80 and a quick ratio of 0.79. The firm has a fifty day moving average of $33.51 and a 200 day moving average of $37.53. Camden National Co. has a one year low of $25.74 and a one year high of $48.48.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, April 28th. The financial services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.20. The business had revenue of $43.23 million for the quarter, compared to analyst estimates of $41.42 million. Camden National had a return on equity of 11.87% and a net margin of 26.76%. Research analysts expect that Camden National Co. will post 3.35 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, July 14th. This represents a $1.32 annualized dividend and a dividend yield of 4.12%. Camden National’s dividend payout ratio (DPR) is presently 35.77%.

A number of analysts recently issued reports on the company. ValuEngine lowered Camden National from a “hold” rating to a “sell” rating in a research note on Tuesday, April 7th. BidaskClub lowered Camden National from a “hold” rating to a “sell” rating in a research note on Wednesday, June 17th. Zacks Investment Research upgraded Camden National from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Tuesday, June 2nd. Finally, TheStreet lowered Camden National from a “b” rating to a “c+” rating in a research note on Friday, March 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $42.00.

In other news, Director Ann W. Bresnahan acquired 10,000 shares of Camden National stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $27.78 per share, for a total transaction of $277,800.00. Following the transaction, the director now owns 39,190 shares of the company’s stock, valued at $1,088,698.20. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.23% of the stock is currently owned by corporate insiders.

Camden National Company Profile

Camden National Corporation operates as the holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit, and commercial customers. It offers various deposit products, including demand, checking, saving, and money market accounts; and time deposits, as well as certificates of deposit.

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

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