Globeflex Capital L P Acquires Shares of 19,051 Camden National Corporation $CAC

Globeflex Capital L P bought a new position in Camden National Corporation (NASDAQ:CAC) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 19,051 shares of the financial services provider’s stock, valued at approximately $1,033,000. Globeflex Capital L P owned about 0.11% of Camden National as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. purchased a new stake in Camden National during the second quarter valued at approximately $120,000. Ieq Capital LLC bought a new stake in shares of Camden National in the 2nd quarter valued at approximately $422,000. Vise Technologies Inc. purchased a new position in shares of Camden National in the 2nd quarter worth approximately $483,000. BlackRock Inc. purchased a new position in shares of Camden National in the 2nd quarter worth approximately $96,659,000. Finally, Deutsche Bank AG bought a new position in shares of Camden National during the 2nd quarter valued at approximately $949,000. Institutional investors own 77.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. National Bank Financial set a $55.00 price target on Camden National in a research report on Thursday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Camden National in a research report on Tuesday, June 9th. Raymond James Financial increased their target price on shares of Camden National from $56.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Camden National from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Camden National has a consensus rating of “Hold” and a consensus price target of $55.25.

Camden National Trading Up 0.4%

CAC opened at $56.88 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s 50 day moving average price is $55.44 and its 200-day moving average price is $51.08. Camden National Corporation has a one year low of $35.00 and a one year high of $60.59. The stock has a market cap of $961.27 million, a price-to-earnings ratio of 10.90 and a beta of 0.55.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.06. Camden National had a return on equity of 12.59% and a net margin of 23.64%.The company had revenue of $67.41 million during the quarter, compared to analysts’ expectations of $66.41 million. On average, equities analysts forecast that Camden National Corporation will post 5.43 EPS for the current year.

Camden National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Wednesday, July 15th. Camden National’s dividend payout ratio (DPR) is 32.18%.

Camden National Company 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.