Camden National Co. (NASDAQ:CAC) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its position in shares of Camden National Co. (NASDAQ:CAC) by 4.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,221,041 shares of the financial services provider’s stock after selling 60,365 shares during the period. Franklin Resources Inc. owned approximately 0.08% of Camden National worth $50,734,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Camden National during the 2nd quarter worth $73,000. SG Americas Securities LLC increased its position in 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 worth $292,000 after purchasing an additional 2,602 shares in the last quarter. Inspire Investing LLC purchased a new stake in Camden National during the 2nd quarter worth about $349,000. US Bancorp DE increased its position in 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 purchasing an additional 319 shares in the last quarter. Finally, Coston McIsaac & Partners increased its position in Camden National by 18.6% during the 3rd quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock worth $480,000 after purchasing an additional 1,819 shares in the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

Camden National Stock Down 2.1 %

CAC opened at $44.96 on Wednesday. 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 stock has a market capitalization of $655.38 million, a price-to-earnings ratio of 14.05 and a beta of 0.75. The business has a 50-day moving average of $44.94 and a two-hundred day moving average of $39.55. Camden National Co. has a 12 month low of $28.62 and a 12 month high of $50.07.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.83 by $0.11. The company had revenue of $75.13 million during the quarter, compared to analysts’ expectations of $43.90 million. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same quarter in the previous year, the business earned $0.96 EPS. On average, research analysts expect that Camden National Co. will post 3.49 earnings per share for the current year.

Camden National Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Tuesday, October 15th. Camden National’s dividend payout ratio (DPR) is 52.50%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CAC shares. StockNews.com started coverage on Camden National in a research report on Wednesday. They set a “hold” rating for the company. Keefe, Bruyette & Woods lifted their price objective 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.