HM Payson & Co. Has $709,000 Position in Camden National Co. (NASDAQ:CAC)

HM Payson & Co. raised its position in Camden National Co. (NASDAQ:CAC) by 51.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 17,158 shares of the financial services provider’s stock after purchasing an additional 5,803 shares during the period. HM Payson & Co.’s holdings in Camden National were worth $709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Kimelman & Baird LLC acquired a new stake in shares of Camden National in the second quarter valued at approximately $4,943,000. Signaturefd LLC lifted its position in shares of Camden National by 2,990.3% during the 1st quarter. Signaturefd LLC now owns 38,567 shares of the financial services provider’s stock valued at $1,293,000 after acquiring an additional 37,319 shares during the period. ProShare Advisors LLC grew its holdings in shares of Camden National by 13.2% during the 1st quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock worth $8,027,000 after purchasing an additional 28,007 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Camden National by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock valued at $27,605,000 after purchasing an additional 26,450 shares in the last quarter. Finally, Hantz Financial Services Inc. bought a new stake in Camden National during the second quarter worth about $757,000. Institutional investors own 77.41% of the company’s stock.

Camden National Trading Down 1.1 %

CAC opened at $41.95 on Friday. The company has a market cap of $611.42 million, a P/E ratio of 13.11 and a beta of 0.72. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average is $40.08 and its 200-day moving average is $35.98. Camden National Co. has a 1-year low of $28.00 and a 1-year high of $43.75.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.10. The company had revenue of $72.81 million during the quarter, compared to the consensus estimate 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 in the prior year, the business earned $0.85 earnings per share. Equities research analysts predict that Camden National Co. will post 3.34 earnings per share for the current fiscal year.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Tuesday, October 15th. Camden National’s payout ratio is 52.50%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com started coverage on shares of Camden National in a research report on Thursday. They issued a “hold” rating for the company. Stephens raised their target price on Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods lifted their price target on Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th.

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.