UBS Group AG boosted its holdings in Camden National Corporation (NASDAQ:CAC – Free Report) by 47.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,395 shares of the financial services provider’s stock after purchasing an additional 18,722 shares during the quarter. UBS Group AG’s holdings in Camden National were worth $2,533,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of CAC. Russell Investments Group Ltd. increased its holdings in shares of Camden National by 13,790.0% during the third quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 1,379 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Camden National during the third quarter valued at approximately $58,000. Nisa Investment Advisors LLC increased its holdings in shares of Camden National by 15,220.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,532 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 1,522 shares in the last quarter. Aquatic Capital Management LLC increased its holdings in shares of Camden National by 33.5% during the third quarter. Aquatic Capital Management LLC now owns 3,153 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 791 shares in the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of Camden National by 45.7% during the second quarter. Quantbot Technologies LP now owns 3,167 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 993 shares in the last quarter. Institutional investors own 77.41% of the company’s stock.
Camden National Stock Up 1.9%
Shares of NASDAQ:CAC opened at $50.25 on Wednesday. The stock has a market cap of $850.23 million, a price-to-earnings ratio of 10.69 and a beta of 0.56. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. Camden National Corporation has a 12-month low of $35.00 and a 12-month high of $53.71. The business’s 50 day moving average is $48.55 and its 200 day moving average is $46.17.
Camden National Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 15th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.3%. Camden National’s payout ratio is presently 35.74%.
Analyst Upgrades and Downgrades
CAC has been the subject of several recent research reports. Stephens restated an “equal weight” rating and set a $53.00 price objective on shares of Camden National in a report on Thursday, February 5th. Keefe, Bruyette & Woods boosted their price objective on Camden National from $47.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, April 29th. National Bank Financial set a $50.00 price objective on Camden National in a report on Wednesday, April 29th. Raymond James Financial restated an “outperform” rating and set a $56.00 price objective on shares of Camden National in a report on Wednesday, April 29th. Finally, Weiss Ratings upgraded Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 19th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $52.25.
Get Our Latest Stock Analysis on CAC
Camden National Profile
Camden National Corporation is a bank holding company headquartered in Camden, Maine. Through its primary subsidiary, Camden National Bank, the company provides a full range of community banking services to individuals and businesses. Its branch network spans much of the State of Maine, with a concentration in the midcoast, central and southern regions.
The company’s offerings include deposit products such as checking, savings and money market accounts, along with consumer and commercial lending services.
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