Y Intercept Hong Kong Ltd Takes Position in Camden National Corporation $CAC

Y Intercept Hong Kong Ltd bought a new position in shares of Camden National Corporation (NASDAQ:CAC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,856 shares of the financial services provider’s stock, valued at approximately $278,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CAC. Bank of New York Mellon Corp lifted its holdings in shares of Camden National by 4.4% during the first quarter. Bank of New York Mellon Corp now owns 92,084 shares of the financial services provider’s stock worth $3,727,000 after purchasing an additional 3,848 shares during the period. Alps Advisors Inc. bought a new position in Camden National during the 1st quarter worth $351,000. CWM LLC lifted its holdings in 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 buying an additional 331 shares during the period. Segall Bryant & Hamill LLC grew its position in shares of Camden National by 15.2% in the 1st quarter. Segall Bryant & Hamill LLC now owns 48,229 shares of the financial services provider’s stock valued at $1,952,000 after buying an additional 6,376 shares during the last quarter. Finally, KLP Kapitalforvaltning AS grew its position in shares of Camden National by 29.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 3,100 shares of the financial services provider’s stock valued at $125,000 after buying an additional 700 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CAC. Keefe, Bruyette & Woods lifted their price objective on Camden National from $44.00 to $45.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 29th. National Bankshares set a $45.00 price objective on shares of Camden National in a research note on Wednesday, October 29th. Zacks Research upgraded shares of Camden National to a “hold” rating in a report on Tuesday, August 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Camden National in a report on Wednesday. Finally, Stephens raised Camden National from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $49.00 to $44.00 in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Camden National currently has a consensus rating of “Hold” and an average target price of $46.75.

Camden National Trading Up 0.7%

Shares of CAC stock opened at $38.83 on Friday. Camden National Corporation has a 12-month low of $34.53 and a 12-month high of $50.07. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average of $38.77 and a 200-day moving average of $39.58. The firm has a market cap of $657.00 million, a P/E ratio of 11.06 and a beta of 0.66.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, October 28th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.01. Camden National had a net margin of 16.24% and a return on equity of 11.06%. The business had revenue of $116.67 million for the quarter, compared to analysts’ expectations of $63.20 million. Sell-side analysts anticipate that Camden National Corporation will post 4.25 earnings per share for the current year.

Camden National Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, October 15th. This represents a $1.68 annualized dividend and a dividend yield of 4.3%. Camden National’s dividend payout ratio (DPR) is 47.86%.

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.