Coston McIsaac & Partners Raises Stake in Camden National Co. (NASDAQ:CAC)

Coston McIsaac & Partners lifted its stake in Camden National Co. (NASDAQ:CAC) by 18.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,621 shares of the financial services provider’s stock after purchasing an additional 1,819 shares during the period. Coston McIsaac & Partners owned about 0.08% of Camden National worth $480,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CAC. Northwestern Mutual Wealth Management Co. bought a new position in Camden National in the 2nd quarter worth about $73,000. BNP Paribas Financial Markets boosted its holdings in shares of Camden National by 89.3% in the first quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 3,330 shares during the period. SG Americas Securities LLC grew its stake in Camden National by 58.1% in the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 2,602 shares in the last quarter. Inspire Investing LLC purchased a new position in Camden National during the 2nd quarter worth $349,000. Finally, Price T Rowe Associates Inc. MD raised its position in Camden National by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 4,907 shares in the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Camden National Stock Up 0.5 %

Shares of NASDAQ CAC traded up $0.19 during mid-day trading on Wednesday, reaching $41.22. 5,666 shares of the company were exchanged, compared to its average volume of 49,814. The firm has a 50-day moving average of $39.51 and a 200 day moving average of $35.52. Camden National Co. has a 1 year low of $26.52 and a 1 year high of $43.50. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. The stock has a market cap of $602.10 million, a price-to-earnings ratio of 13.63 and a beta of 0.72.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.10. The business had revenue of $72.81 million for the quarter, compared to analysts’ expectations of $41.07 million. Camden National had a net margin of 16.01% and a return on equity of 10.36%. During the same period last year, the business earned $0.85 EPS. On average, research analysts expect that Camden National Co. will post 3.34 earnings per share for the current year.

Camden National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.68 annualized dividend and a dividend yield of 4.08%. Camden National’s dividend payout ratio is presently 55.81%.

Analyst Upgrades and Downgrades

CAC has been the topic of a number of recent research reports. Stephens raised their price target on Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a report on Wednesday, September 11th. Finally, StockNews.com initiated coverage on shares of Camden National in a research report on Wednesday. They issued a “hold” rating for the company.

Camden National Profile

Camden National Corporation operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers in Maine, New Hampshire, and Massachusetts. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system.