Camden National Co. (NASDAQ:CAC) Shares Purchased by Legato Capital Management LLC

Legato Capital Management LLC raised its holdings in shares of Camden National Co. (NASDAQ:CAC) by 13.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 29,266 shares of the financial services provider’s stock after purchasing an additional 3,581 shares during the period. Legato Capital Management LLC’s holdings in Camden National were worth $1,251,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAC. JPMorgan Chase & Co. lifted its position in shares of Camden National by 53.6% in the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock valued at $11,731,000 after acquiring an additional 99,097 shares in the last quarter. Barclays PLC raised its stake in Camden National by 38.9% in the 3rd quarter. Barclays PLC now owns 48,339 shares of the financial services provider’s stock valued at $1,998,000 after purchasing an additional 13,542 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Camden National in the 3rd quarter valued at about $659,000. Creative Planning boosted its stake in shares of Camden National by 65.3% during the 3rd quarter. Creative Planning now owns 34,590 shares of the financial services provider’s stock worth $1,429,000 after purchasing an additional 13,663 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Camden National by 1.2% during the third quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock worth $14,236,000 after buying an additional 4,067 shares in the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CAC shares. StockNews.com assumed coverage on shares of Camden National in a research note on Wednesday. They set a “hold” rating on the stock. Raymond James reissued an “outperform” rating and set a $53.00 price target (up previously from $50.00) on shares of Camden National in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th.

Camden National Price Performance

CAC opened at $44.41 on Thursday. Camden National Co. has a 1 year low of $28.62 and a 1 year high of $50.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The company’s 50 day simple moving average is $44.19 and its 200 day simple moving average is $42.32. The stock has a market capitalization of $647.50 million, a PE ratio of 12.27 and a beta of 0.77.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same period last year, the firm posted $0.85 EPS. As a group, sell-side analysts expect that Camden National Co. will post 4.25 EPS for the current year.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were paid a dividend of $0.42 per share. The ex-dividend date was Wednesday, January 15th. This represents a $1.68 annualized dividend and a yield of 3.78%. Camden National’s dividend payout ratio is presently 46.41%.

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.