Ipswich Investment Management Co. Inc. Sells 983 Shares of Camden National Co. (NASDAQ:CAC)

Ipswich Investment Management Co. Inc. lowered its position in shares of Camden National Co. (NASDAQ:CAC) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,219 shares of the financial services provider’s stock after selling 983 shares during the quarter. Ipswich Investment Management Co. Inc. owned about 0.32% of Camden National worth $2,018,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CAC. Geode Capital Management LLC lifted its position in shares of Camden National by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock valued at $14,236,000 after acquiring an additional 4,067 shares during the period. JPMorgan Chase & Co. increased its stake in Camden National by 53.6% in the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock valued at $11,731,000 after purchasing an additional 99,097 shares in the last quarter. Bryn Mawr Capital Management LLC acquired a new position in shares of Camden National during the fourth quarter valued at about $6,811,000. Charles Schwab Investment Management Inc. boosted its position in shares of Camden National by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock worth $4,876,000 after purchasing an additional 674 shares in the last quarter. Finally, Dean Investment Associates LLC grew its stake in shares of Camden National by 36.8% in the 3rd quarter. Dean Investment Associates LLC now owns 65,557 shares of the financial services provider’s stock valued at $2,709,000 after buying an additional 17,632 shares during the period. 77.41% of the stock is currently owned by institutional investors and hedge funds.

Camden National Stock Performance

Shares of CAC opened at $43.09 on Friday. The firm has a market capitalization of $628.25 million, a P/E ratio of 11.90 and a beta of 0.77. Camden National Co. has a 52 week low of $28.62 and a 52 week high of $50.07. The stock has a 50 day moving average price of $43.91 and a two-hundred day moving average price of $42.51. 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 results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.14. Camden National had a return on equity of 10.38% and a net margin of 18.02%. During the same quarter in the prior year, the company earned $0.85 earnings per share. Equities analysts forecast that Camden National Co. will post 4.25 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date was Wednesday, January 15th. Camden National’s payout ratio is currently 46.41%.

Analyst Ratings Changes

A number of research firms recently weighed in on CAC. Raymond James reaffirmed an “outperform” rating and set a $53.00 price target (up from $50.00) on shares of Camden National in a research note on Wednesday, January 29th. StockNews.com started coverage on Camden National in a research report on Thursday. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods lifted their price target 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.

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.