Aquatic Capital Management LLC Makes New $44,000 Investment in Camden National Co. (NASDAQ:CAC)

Aquatic Capital Management LLC bought a new stake in shares of Camden National Co. (NASDAQ:CAC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,023 shares of the financial services provider’s stock, valued at approximately $44,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. LPL Financial LLC grew its stake in Camden National by 3.8% during the fourth quarter. LPL Financial LLC now owns 6,982 shares of the financial services provider’s stock valued at $298,000 after acquiring an additional 257 shares in the last quarter. US Bancorp DE boosted its holdings in Camden National by 2.8% in the 4th quarter. US Bancorp DE now owns 11,474 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 308 shares during the period. Rhumbline Advisers grew its position in shares of Camden National by 1.8% during the 4th quarter. Rhumbline Advisers now owns 23,204 shares of the financial services provider’s stock valued at $992,000 after purchasing an additional 415 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Camden National by 4.9% in the fourth quarter. First Trust Advisors LP now owns 9,248 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 431 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Camden National by 22.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,901 shares of the financial services provider’s stock worth $124,000 after buying an additional 523 shares in the last quarter. 77.41% of the stock is currently owned by institutional investors.

Camden National Trading Down 0.6 %

Shares of CAC stock opened at $39.36 on Wednesday. The business has a 50-day moving average price of $39.62 and a two-hundred day moving average price of $42.85. Camden National Co. has a 12-month low of $30.78 and a 12-month high of $50.07. 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 $664.63 million, a P/E ratio of 10.87 and a beta of 0.64.

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

Camden National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Tuesday, April 15th. Camden National’s dividend payout ratio is currently 46.41%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CAC. Raymond James restated an “outperform” rating and set a $53.00 target price (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. StockNews.com assumed coverage on shares of Camden National in a research report on Saturday. They issued a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods raised their target price on shares of Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th.

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.