Camden National Co. (NASDAQ:CAC) Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC trimmed its holdings in Camden National Co. (NASDAQ:CAC) by 9.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,400 shares of the financial services provider’s stock after selling 700 shares during the period. Sky Investment Group LLC’s holdings in Camden National were worth $274,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Camden National in the 2nd quarter worth $73,000. SG Americas Securities LLC increased its stake in 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 in the last quarter. Inspire Investing LLC acquired a new stake in Camden National during the 2nd quarter worth about $349,000. Clark & Stuart Inc purchased a new stake in Camden National during the fourth quarter valued at about $434,000. Finally, US Bancorp DE boosted 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 worth $461,000 after buying an additional 319 shares during the period. Institutional investors own 77.41% of the company’s stock.

Camden National Price Performance

NASDAQ CAC opened at $44.05 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $642.12 million, a price-to-earnings ratio of 13.77 and a beta of 0.76. The company has a 50 day simple moving average of $44.94 and a 200-day simple moving average of $41.37. Camden National Co. has a 52-week low of $28.62 and a 52-week high of $50.07.

Camden National (NASDAQ:CAC) last released its 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. 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 the consensus estimate of $43.90 million. During the same quarter in the prior year, the firm earned $0.96 EPS. Equities research analysts predict that Camden National Co. will post 3.49 earnings per share for the current fiscal year.

Camden National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.81%. Camden National’s payout ratio is 52.50%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CAC. Raymond James upgraded shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Friday, December 20th. StockNews.com initiated coverage on shares of Camden National in a research note on Sunday. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods raised their target price on Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

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.