Vise Technologies Inc. Purchases New Stake in Camden National Corporation $CAC

Vise Technologies Inc. acquired a new position in shares of Camden National Corporation (NASDAQ:CAC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 8,902 shares of the financial services provider’s stock, valued at approximately $483,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new stake in Camden National in the 2nd quarter valued at $29,000. PNC Financial Services Group Inc. raised its holdings in shares of Camden National by 106.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 878 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 452 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Camden National by 13,790.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 1,379 shares during the period. Advisory Services Network LLC acquired a new position in shares of Camden National during the 3rd quarter valued at about $58,000. Finally, Trust Co. of Vermont acquired a new position in shares of Camden National during the 2nd quarter valued at about $90,000. Institutional investors and hedge funds own 77.41% of the company’s stock.

Camden National Stock Up 0.4%

Shares of CAC opened at $56.88 on Tuesday. The firm has a market cap of $961.27 million, a P/E ratio of 10.90 and a beta of 0.55. Camden National Corporation has a 12-month low of $35.00 and a 12-month high of $60.59. The company’s 50-day moving average price is $55.44 and its 200 day moving average price is $51.08. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09.

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

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Wednesday, July 15th. Camden National’s dividend payout ratio is 32.18%.

Analyst Ratings Changes

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

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.