Inspire Investing LLC Sells 612 Shares of Camden National Co. (NASDAQ:CAC)

Inspire Investing LLC trimmed its holdings in Camden National Co. (NASDAQ:CAC) by 6.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,414 shares of the financial services provider’s stock after selling 612 shares during the quarter. Inspire Investing LLC’s holdings in Camden National were worth $402,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in Camden National by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock valued at $27,605,000 after buying an additional 26,450 shares during the period. Creative Planning boosted its holdings in Camden National by 65.4% during the 2nd quarter. Creative Planning now owns 20,927 shares of the financial services provider’s stock valued at $691,000 after acquiring an additional 8,274 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in Camden National during the 2nd quarter worth approximately $73,000. Kimelman & Baird LLC purchased a new position in Camden National in the 2nd quarter worth approximately $4,943,000. Finally, SG Americas Securities LLC boosted its stake in shares of Camden National by 58.1% during the third 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 period. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on CAC. StockNews.com began coverage on shares of Camden National in a research note on Sunday, January 19th. They issued a “hold” rating on the stock. Raymond James upgraded shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Friday, December 20th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Camden National Stock Performance

Shares of CAC stock opened at $43.80 on Friday. The firm has a market capitalization of $638.60 million, a price-to-earnings ratio of 13.69 and a beta of 0.76. The stock has a fifty day moving average of $44.61 and a 200 day moving average of $41.64. Camden National Co. has a 52 week low of $28.62 and a 52 week high of $50.07. 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 (NASDAQ:CAC) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, beating 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 firm had revenue of $75.13 million for the quarter, compared to analyst estimates of $43.90 million. During the same quarter in the previous year, the firm posted $0.96 EPS. As a group, research analysts expect that Camden National Co. will post 3.49 earnings per share for the current year.

Camden National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Wednesday, January 15th. Camden National’s payout ratio is presently 52.50%.

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.