Ipswich Investment Management Co. Inc. Has $310,000 Position in Camden National Corporation $CAC

Ipswich Investment Management Co. Inc. lessened its stake in Camden National Corporation (NASDAQ:CAC) by 81.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,026 shares of the financial services provider’s stock after selling 35,038 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Camden National were worth $310,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Trust Co. of Vermont boosted its holdings in Camden National by 330.2% in the second quarter. Trust Co. of Vermont now owns 2,151 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 1,651 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Camden National by 15.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,567 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 350 shares during the last quarter. Quantbot Technologies LP raised its stake in Camden National by 45.7% during the second quarter. Quantbot Technologies LP now owns 3,167 shares of the financial services provider’s stock worth $129,000 after buying an additional 993 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Camden National in the second quarter valued at $136,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its position in Camden National by 9.6% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,825 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 335 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors.

Camden National Trading Up 0.3%

NASDAQ:CAC opened at $45.93 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.81 and a quick ratio of 0.81. Camden National Corporation has a one year low of $34.53 and a one year high of $46.62. The company has a market cap of $777.14 million, a PE ratio of 13.09 and a beta of 0.66. The firm has a 50-day moving average of $39.73 and a 200-day moving average of $39.88.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.01. The business had revenue of $116.67 million during the quarter, compared to the consensus estimate of $63.20 million. Camden National had a return on equity of 10.76% and a net margin of 16.24%. As a group, equities research analysts expect that Camden National Corporation will post 4.25 EPS for the current fiscal year.

Camden National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Thursday, January 15th will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, January 15th. This represents a $1.68 annualized dividend and a yield of 3.7%. Camden National’s dividend payout ratio is 47.86%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Janney Montgomery Scott raised Camden National to a “hold” rating in a research report on Wednesday, October 22nd. National Bankshares set a $45.00 target price on Camden National in a report on Wednesday, October 29th. Keefe, Bruyette & Woods upped their price objective on shares of Camden National from $44.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Camden National in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Camden National has an average rating of “Hold” and a consensus price target of $46.75.

Camden National 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.