Foundations Investment Advisors LLC Acquires Stake in Camden National Co.

During the fourth quarter, Foundations Investment Advisors LLC made headlines by acquiring a new stake in Camden National Co. (NASDAQ:CAC). This investment was detailed in the fund's latest Form 13F filing with the SEC, which revealed that it purchased 6,559 shares of Camden National's stock. The total value of this purchase was approximately $280,000.

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Other large investors have also been active in managing their positions in Camden National. For example, JPMorgan Chase & Co. increased its stake by an impressive 53.6% during the third quarter, now owning a total of 283,911 shares of the financial services provider, valued at roughly $11.73 million after adding 99,097 shares in the last quarter. Similarly, Barclays PLC raised its holdings in Camden National by 38.9% in the same period, now holding 48,339 shares valued at about $1.998 million after purchasing an extra 13,542 shares. Additionally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Camden National during the third quarter, valued around $659,000.

Creative Planning also made significant moves, boosting its position by 65.3% in the third quarter, leading to ownership of 34,590 shares valued at approximately $1.429 million after acquiring an additional 13,663 shares. Meanwhile, Geode Capital Management LLC increased its stake by 1.2%, now owning 344,448 shares worth $14.236 million, having added 4,067 shares during the last quarter. Presently, 77.41% of Camden National stock is owned by institutional investors and hedge funds.

Current Stock Performance

On Friday, Camden National shares opened at $45.36, showing a slight decrease of 0.2%. The company has a market capitalization of $661.35 million, a P/E ratio of 12.53, and a beta of 0.76. Over the past year, Camden National has shown considerable fluctuation, with a low of $28.62 and a high of $50.07. The company's debt-to-equity ratio stands at 0.08, with both the quick and current ratios at 0.82.

Camden National recently reported its quarterly earnings, revealing that it had earnings per share of $1.03 for the quarter, surpassing analysts' expectations of $0.89 by $0.14. The company's net margin was reported at 18.02%, while the return on equity was at 10.38%. Analysts now expect Camden National to post an earnings per share of 4.16 for the current fiscal year.

Dividend Announcement

Camden National also announced a quarterly dividend that was distributed on January 31. Shareholders who were on record as of January 15 received a dividend payment of $0.42. The ex-dividend date was also January 15. This translates to an annualized dividend of $1.68, resulting in a yield of 3.70%. The company's dividend payout ratio is currently 46.41%.

Analyst Ratings and Expectations

Recently, several research firms have issued their evaluations of Camden National. StockNews.com initiated coverage on the stock on January 27, assigning it a "hold" rating. On the other hand, Raymond James reaffirmed an "outperform" rating, raising its price target from $50.00 to $53.00 in a report released on Wednesday. In the same vein, Keefe, Bruyette & Woods adjusted their price target upward from $48.00 to $50.00, while assigning a "market perform" rating in their latest report.

Further Stock Analysis on Camden National

About Camden National Corporation

Camden National Corporation operates as the bank holding company for Camden National Bank, providing a broad range of commercial and consumer banking products and services. The bank caters to consumer, institutional, municipal, non-profit, and commercial clients across Maine, New Hampshire, and Massachusetts. Camden National accepts various types of deposits, including checking, savings, time, and brokered deposits.

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