Franklin Resources Inc. Has $46.54 Million Stock Position in Camden National Co. (NASDAQ:CAC)

Franklin Resources Inc. lifted its stake in Camden National Co. (NASDAQ:CAC) by 12.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,236,840 shares of the financial services provider’s stock after purchasing an additional 135,944 shares during the quarter. Franklin Resources Inc. owned 8.49% of Camden National worth $46,542,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC boosted its position in shares of Camden National by 364.7% in the 4th quarter. Quadrant Capital Group LLC now owns 4,545 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 3,567 shares during the period. FMR LLC boosted its position in shares of Camden National by 6.0% in the 3rd quarter. FMR LLC now owns 1,302,357 shares of the financial services provider’s stock valued at $36,753,000 after purchasing an additional 73,600 shares during the period. Swiss National Bank boosted its position in shares of Camden National by 1.9% in the 3rd quarter. Swiss National Bank now owns 32,061 shares of the financial services provider’s stock valued at $905,000 after purchasing an additional 600 shares during the period. Signaturefd LLC lifted its stake in Camden National by 147.1% in the 4th quarter. Signaturefd LLC now owns 1,248 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 743 shares in the last quarter. Finally, Bar Harbor Wealth Management purchased a new stake in Camden National in the 4th quarter worth about $352,000. Institutional investors and hedge funds own 77.41% of the company’s stock.

Camden National Stock Up 0.1 %

Shares of Camden National stock opened at $32.32 on Friday. The stock has a 50-day moving average price of $31.53 and a 200 day moving average price of $33.69. The company has a market cap of $472.20 million, a P/E ratio of 10.74 and a beta of 0.74. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. Camden National Co. has a 1 year low of $26.52 and a 1 year high of $39.70.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.14. The firm had revenue of $41.60 million during the quarter, compared to the consensus estimate of $41.72 million. Camden National had a return on equity of 10.66% and a net margin of 16.56%. As a group, analysts expect that Camden National Co. will post 3.04 EPS for the current fiscal year.

Camden National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date was Friday, April 12th. Camden National’s dividend payout ratio (DPR) is presently 55.81%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Camden National from a “hold” rating to a “sell” rating in a research note on Friday.

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.