Trust Co. of Vermont Boosts Stock Position in Camden National Corporation $CAC

Trust Co. of Vermont increased its stake in Camden National Corporation (NASDAQ:CAC) by 330.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,151 shares of the financial services provider’s stock after buying an additional 1,651 shares during the quarter. Trust Co. of Vermont’s holdings in Camden National were worth $87,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Delphi Management Inc. MA boosted its stake in Camden National by 158.5% in the 2nd quarter. Delphi Management Inc. MA now owns 31,788 shares of the financial services provider’s stock worth $1,290,000 after purchasing an additional 19,493 shares during the period. Jane Street Group LLC purchased a new stake in shares of Camden National in the first quarter worth about $1,019,000. Empowered Funds LLC boosted its position in shares of Camden National by 8.4% in the first quarter. Empowered Funds LLC now owns 43,043 shares of the financial services provider’s stock valued at $1,742,000 after acquiring an additional 3,318 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Camden National during the first quarter valued at approximately $458,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Camden National by 20.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,925 shares of the financial services provider’s stock valued at $402,000 after acquiring an additional 1,661 shares in the last quarter. 77.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Stephens upgraded shares of Camden National from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $49.00 to $44.00 in a research note on Wednesday, August 6th. Zacks Research raised shares of Camden National to a “hold” rating in a report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Camden National presently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

Camden National Price Performance

CAC stock opened at $37.90 on Friday. The firm has a 50 day simple moving average of $39.36 and a two-hundred day simple moving average of $39.78. The stock has a market cap of $641.27 million, a PE ratio of 11.99 and a beta of 0.64. Camden National Corporation has a one year low of $34.53 and a one year high of $50.07. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.81 and a quick ratio of 0.81.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.23). Camden National had a net margin of 14.77% and a return on equity of 10.19%. The company had revenue of $69.82 million for the quarter, compared to analysts’ expectations of $61.04 million. On average, analysts predict that Camden National Corporation will post 4.25 EPS for the current fiscal year.

Camden National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Wednesday, October 15th. Camden National’s dividend payout ratio is presently 53.16%.

About Camden National

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.