Camden National Co. (CAC) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its holdings in Camden National Co. (NASDAQ:CAC) by 4.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 447,449 shares of the financial services provider’s stock after buying an additional 19,500 shares during the quarter. Renaissance Technologies LLC owned about 2.87% of Camden National worth $20,453,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP increased its position in Camden National by 19.9% in the second quarter. First Trust Advisors LP now owns 39,644 shares of the financial services provider’s stock worth $1,812,000 after purchasing an additional 6,587 shares during the period. Millennium Management LLC acquired a new stake in Camden National in the first quarter worth about $205,000. Fiduciary Trust Co. increased its position in Camden National by 91.7% in the second quarter. Fiduciary Trust Co. now owns 20,889 shares of the financial services provider’s stock worth $955,000 after purchasing an additional 9,990 shares during the period. Prudential Financial Inc. increased its position in Camden National by 3.0% in the first quarter. Prudential Financial Inc. now owns 104,168 shares of the financial services provider’s stock worth $4,636,000 after purchasing an additional 3,000 shares during the period. Finally, Royal Bank of Canada increased its position in Camden National by 16.3% in the first quarter. Royal Bank of Canada now owns 12,394 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 1,735 shares during the period. 63.29% of the stock is owned by institutional investors and hedge funds.

CAC has been the subject of a number of research reports. BidaskClub lowered Camden National from a “buy” rating to a “hold” rating in a research report on Wednesday, June 13th. Zacks Investment Research upgraded Camden National from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $51.50 price objective on shares of Camden National in a research report on Friday, August 3rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Camden National currently has a consensus rating of “Buy” and a consensus price target of $49.50.

Shares of CAC stock opened at $43.44 on Tuesday. The stock has a market capitalization of $692.68 million, a P/E ratio of 14.68 and a beta of 0.63. Camden National Co. has a 12 month low of $40.25 and a 12 month high of $47.86. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.80 and a quick ratio of 0.80.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, July 31st. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.04). The company had revenue of $38.98 million for the quarter, compared to analyst estimates of $39.40 million. Camden National had a return on equity of 11.64% and a net margin of 18.39%. equities analysts anticipate that Camden National Co. will post 3.3 earnings per share for the current fiscal year.

Camden National Company Profile

Camden National Corporation operates as the holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit, and commercial customers. It offers various deposit products, including demand, checking, saving, and money market accounts; and time deposits.

Further Reading: Stock Symbol

Institutional Ownership by Quarter for Camden National (NASDAQ:CAC)

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