Legato Capital Management LLC Grows Position in Camden National Co. (NASDAQ:CAC)

Legato Capital Management LLC raised its position in Camden National Co. (NASDAQ:CAC) by 13.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,266 shares of the financial services provider’s stock after buying an additional 3,581 shares during the quarter. Legato Capital Management LLC owned approximately 0.20% of Camden National worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in shares of Camden National by 18,500.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock worth $79,000 after buying an additional 1,850 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in Camden National during the 4th quarter worth approximately $280,000. SG Americas Securities LLC grew its stake 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 valued at $292,000 after purchasing an additional 2,602 shares during the last quarter. Clark & Stuart Inc purchased a new position in shares of Camden National in the 4th quarter valued at approximately $434,000. Finally, US Bancorp DE increased its holdings in shares of Camden National by 2.9% in the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 319 shares during the period. 77.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Camden National Price Performance

Camden National stock opened at $44.41 on Thursday. The company has a market cap of $647.50 million, a P/E ratio of 12.27 and a beta of 0.77. Camden National Co. has a one year low of $28.62 and a one year high of $50.07. The business has a fifty day moving average of $44.19 and a two-hundred day moving average of $42.32. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate 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 in the previous year, the business earned $0.85 earnings per share. As a group, analysts predict that Camden National Co. will post 4.25 earnings per share for the current fiscal year.

Camden National Announces Dividend

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

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.