Segall Bryant & Hamill LLC Invests $1.73 Million in Camden National Co. (NASDAQ:CAC)

Segall Bryant & Hamill LLC purchased a new stake in Camden National Co. (NASDAQ:CAC) in the third quarter, according to its most recent filing with the SEC. The fund purchased 41,853 shares of the financial services provider’s stock, valued at approximately $1,729,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new position in Camden National in the second quarter worth about $73,000. SG Americas Securities LLC lifted its holdings in shares of Camden National by 58.1% in the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 2,602 shares during the last quarter. Inspire Investing LLC bought a new position in Camden National during the 2nd quarter worth $349,000. US Bancorp DE increased its position in Camden National by 2.9% in the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock worth $461,000 after buying an additional 319 shares during the period. Finally, Coston McIsaac & Partners lifted its stake in Camden National by 18.6% in the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock valued at $480,000 after buying an additional 1,819 shares during the last quarter. 77.41% of the stock is owned by institutional investors and hedge funds.

Camden National Stock Performance

CAC stock opened at $47.96 on Friday. The company has a 50-day simple moving average of $42.55 and a 200 day simple moving average of $37.78. The company has a market capitalization of $699.26 million, a P/E ratio of 14.99 and a beta of 0.72. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National Co. has a fifty-two week low of $28.62 and a fifty-two week high of $50.07.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The company had revenue of $75.13 million during the quarter, compared to analyst estimates of $43.90 million. During the same period in the prior year, the business posted $0.96 EPS. Sell-side analysts predict that Camden National Co. will post 3.45 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 yield of 3.50%. The ex-dividend date was Tuesday, October 15th. Camden National’s payout ratio is currently 52.50%.

Analysts Set New Price Targets

A number of analysts recently weighed in on CAC shares. StockNews.com started coverage on shares of Camden National in a report on Sunday. They issued a “hold” rating on the stock. 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 report on Wednesday, September 11th. Finally, Stephens increased their price objective on Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd.

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.