Fiduciary Trust Co Sells 4,000 Shares of Camden National Co. (NASDAQ:CAC)

Fiduciary Trust Co trimmed its holdings in shares of Camden National Co. (NASDAQ:CAC) by 33.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,000 shares of the financial services provider’s stock after selling 4,000 shares during the period. Fiduciary Trust Co’s holdings in Camden National were worth $331,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAC. Northwestern Mutual Wealth Management Co. purchased a new position in Camden National in the second quarter valued at approximately $73,000. SG Americas Securities LLC lifted its position in shares of Camden National by 58.1% during the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock valued at $292,000 after buying an additional 2,602 shares during the last quarter. Inspire Investing LLC purchased a new position in shares of Camden National during the 2nd quarter valued at $349,000. US Bancorp DE grew its stake in shares of Camden National by 2.9% during the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock worth $461,000 after acquiring an additional 319 shares during the period. Finally, Coston McIsaac & Partners increased its holdings in Camden National by 18.6% in the 3rd quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 1,819 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 CAC opened at $47.11 on Friday. Camden National Co. has a 52-week low of $28.62 and a 52-week high of $50.07. The stock’s 50-day simple moving average is $43.33 and its 200 day simple moving average is $38.35. 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 stock has a market capitalization of $686.72 million, a price-to-earnings ratio of 14.72 and a beta of 0.72.

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

Camden National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.57%. Camden National’s dividend payout ratio (DPR) is currently 52.50%.

Analyst Ratings Changes

A number of equities analysts have weighed in on CAC shares. Keefe, Bruyette & Woods increased their target price on shares of Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 11th. StockNews.com started coverage on shares of Camden National in a report on Sunday, November 24th. They issued a “hold” rating for the company.

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.