Intech Investment Management LLC Decreases Stock Holdings in Camden National Corporation $CAC

Intech Investment Management LLC reduced its stake in shares of Camden National Corporation (NASDAQ:CAC) by 30.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,861 shares of the financial services provider’s stock after selling 3,012 shares during the quarter. Intech Investment Management LLC’s holdings in Camden National were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Camden National by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 874,341 shares of the financial services provider’s stock worth $35,385,000 after acquiring an additional 77,106 shares during the period. Geode Capital Management LLC raised its holdings in Camden National by 0.5% during the second quarter. Geode Capital Management LLC now owns 408,288 shares of the financial services provider’s stock worth $16,571,000 after purchasing an additional 2,187 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Camden National by 15.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 137,209 shares of the financial services provider’s stock worth $5,553,000 after purchasing an additional 18,493 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in Camden National by 4.2% in the first quarter. Bridgeway Capital Management LLC now owns 82,143 shares of the financial services provider’s stock valued at $3,324,000 after purchasing an additional 3,318 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Camden National in the first quarter valued at $2,160,000. 77.41% of the stock is currently owned by institutional investors and hedge funds.

Camden National Stock Performance

Shares of NASDAQ CAC opened at $40.98 on Tuesday. The company has a 50-day simple moving average of $38.51 and a 200-day simple moving average of $39.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $693.46 million, a PE ratio of 11.68 and a beta of 0.66. Camden National Corporation has a 12 month low of $34.53 and a 12 month high of $47.66.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, October 28th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.01. The firm had revenue of $116.67 million for the quarter, compared to analyst estimates of $63.20 million. Camden National had a net margin of 16.24% and a return on equity of 11.06%. On average, equities analysts anticipate that Camden National Corporation will post 4.25 earnings per share for the current year.

Camden National Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th were issued a $0.42 dividend. The ex-dividend date was Wednesday, October 15th. This represents a $1.68 annualized dividend and a yield of 4.1%. Camden National’s payout ratio is 47.86%.

Analyst Ratings Changes

Several research firms recently commented on CAC. Stephens upgraded shares of Camden National from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $49.00 to $44.00 in a research report on Wednesday, August 6th. Zacks Research upgraded shares of Camden National to a “hold” rating in a research report on Tuesday, August 12th. Keefe, Bruyette & Woods increased their price target on shares of Camden National from $44.00 to $45.00 and gave the company a “market perform” rating in a research report on Wednesday, October 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Camden National in a research report on Monday, November 24th. Finally, Janney Montgomery Scott raised Camden National to a “hold” rating in a research note on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Camden National has an average rating of “Hold” and a consensus target price of $46.75.

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.