36,287 Camden National Corporation $CAC Shares Sold by Kimelman & Baird LLC

Kimelman & Baird LLC lessened its position in shares of Camden National Corporation (NASDAQ:CAC) by 26.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 101,002 shares of the financial services provider’s stock after selling 36,287 shares during the period. Kimelman & Baird LLC’s holdings in Camden National were worth $5,590,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in Camden National during the second quarter valued at $96,659,000. Dimensional Fund Advisors LP raised its position in shares of Camden National by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 830,350 shares of the financial services provider’s stock worth $39,400,000 after acquiring an additional 8,205 shares in the last quarter. Basswood Capital Management L.L.C. bought a new position in shares of Camden National in the 2nd quarter worth about $13,430,000. The Manufacturers Life Insurance Company bought a new position in shares of Camden National in the 2nd quarter worth about $12,693,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Camden National in the 2nd quarter valued at about $6,545,000. Institutional investors and hedge funds own 77.41% of the company’s stock.

Camden National Price Performance

Shares of CAC opened at $58.02 on Friday. The business’s fifty day moving average is $57.14 and its 200 day moving average is $52.50. Camden National Corporation has a 12-month low of $37.87 and a 12-month high of $60.99. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. The stock has a market cap of $980.36 million, a P/E ratio of 10.93 and a beta of 0.58.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. Camden National had a net margin of 24.16% and a return on equity of 12.71%. The business had revenue of $68.67 million during the quarter, compared to analyst estimates of $67.91 million. Sell-side analysts anticipate that Camden National Corporation will post 5.33 earnings per share for the current fiscal year.

Camden National Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Thursday, October 15th. Camden National’s dividend payout ratio (DPR) is currently 31.64%.

Analyst Upgrades and Downgrades

CAC has been the topic of several research analyst reports. Keefe, Bruyette & Woods upped their target price on Camden National from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Zacks Research cut Camden National from a “hold” rating to a “strong sell” rating in a research note on Friday, October 30th. National Bank Financial set a $58.00 target price on Camden National in a report on Wednesday, October 28th. Weiss Ratings raised Camden National from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Finally, Hovde Group began coverage on Camden National in a research note on Tuesday, September 15th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.00.

Camden National Company Profile

Camden National Corporation (NASDAQ:CAC) is a bank holding company headquartered in Camden, Maine. Through its principal subsidiary, Camden National Bank, the company provides banking and financial services to individuals, families, businesses and municipalities primarily across Maine.

Camden National Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, cash-management services and digital banking. Its offerings also include wealth management, trust and investment services designed to support customers with financial planning and asset management needs.

Founded in 1875, Camden National has developed a community-banking model supported by branches and banking offices throughout Maine.