Y Intercept Hong Kong Ltd Takes $278,000 Position in Camden National Corporation $CAC

Y Intercept Hong Kong Ltd acquired a new position in shares of Camden National Corporation (NASDAQ:CAC) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 6,856 shares of the financial services provider’s stock, valued at approximately $278,000.

Other institutional investors have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new stake in Camden National in the first quarter worth about $458,000. HighTower Advisors LLC grew its stake in Camden National by 4.1% during the first quarter. HighTower Advisors LLC now owns 7,811 shares of the financial services provider’s stock valued at $316,000 after acquiring an additional 311 shares in the last quarter. Delphi Management Inc. MA increased its holdings in shares of Camden National by 158.5% in the second 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 last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Camden National by 15.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,567 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 350 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Camden National by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 92,084 shares of the financial services provider’s stock worth $3,727,000 after purchasing an additional 3,848 shares during the last quarter. 77.41% of the stock is owned by hedge funds and other institutional investors.

Camden National Stock Performance

Shares of NASDAQ:CAC opened at $38.83 on Friday. Camden National Corporation has a 1 year low of $34.53 and a 1 year high of $50.07. The firm has a market capitalization of $657.00 million, a PE ratio of 11.06 and a beta of 0.66. The business’s 50 day moving average price is $38.77 and its 200-day moving average price is $39.58. 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 issued its earnings results on Tuesday, October 28th. The financial services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.01. The business had revenue of $116.67 million for the quarter, compared to analysts’ expectations of $63.20 million. Camden National had a return on equity of 11.06% and a net margin of 16.24%. As a group, equities research analysts expect that Camden National Corporation will post 4.25 earnings per share for the current fiscal year.

Camden National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, October 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.3%. Camden National’s dividend payout ratio (DPR) is currently 47.86%.

Wall Street Analysts Forecast Growth

CAC has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Camden National in a research note on Wednesday. Keefe, Bruyette & Woods lifted their price objective on Camden National from $44.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, October 29th. National Bankshares set a $45.00 target price on Camden National in a research report on Wednesday, October 29th. Janney Montgomery Scott raised shares of Camden National to a “hold” rating in a research report on Wednesday, October 22nd. Finally, Stephens upgraded Camden National from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $49.00 to $44.00 in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.75.

Camden National Company 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.