Y Intercept Hong Kong Ltd Grows Stock Holdings in Camden National Corporation $CAC

Y Intercept Hong Kong Ltd increased its stake in Camden National Corporation (NASDAQ:CAC) by 434.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,627 shares of the financial services provider’s stock after purchasing an additional 29,771 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Camden National were worth $1,413,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. TrueMark Investments LLC purchased a new stake in Camden National during the 3rd quarter valued at $2,634,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Camden National by 1.6% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 44,886 shares of the financial services provider’s stock valued at $1,732,000 after acquiring an additional 726 shares during the period. State of Alaska Department of Revenue purchased a new position in Camden National in the third quarter worth about $26,000. SG Americas Securities LLC bought a new stake in shares of Camden National during the 3rd quarter valued at about $132,000. Finally, Clean Yield Group increased its position in shares of Camden National by 1.2% during the 3rd quarter. Clean Yield Group now owns 102,607 shares of the financial services provider’s stock valued at $3,960,000 after purchasing an additional 1,198 shares during the last quarter. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

Camden National Price Performance

NASDAQ:CAC opened at $47.57 on Friday. The business’s 50-day simple moving average is $44.34 and its two-hundred day simple moving average is $40.91. Camden National Corporation has a 52 week low of $34.53 and a 52 week high of $48.40. The stock has a market cap of $804.88 million, a PE ratio of 12.39 and a beta of 0.65. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, January 27th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.01. The firm had revenue of $68.05 million during the quarter, compared to analysts’ expectations of $66.40 million. Camden National had a return on equity of 11.39% and a net margin of 17.46%. As a group, analysts forecast that Camden National Corporation will post 4.25 EPS for the current fiscal year.

Camden National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Thursday, January 15th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.5%. Camden National’s dividend payout ratio (DPR) is presently 43.75%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CAC shares. National Bankshares set a $47.00 price objective on shares of Camden National in a report on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Camden National in a research note on Monday, December 29th. Janney Montgomery Scott upgraded Camden National to a “hold” rating in a research report on Wednesday, October 22nd. Finally, Keefe, Bruyette & Woods upped their price target on Camden National from $45.00 to $47.00 and gave the stock a “market perform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $46.00.

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.