Camden National Bank Purchases 4,900 Shares of Camden National Co. (NASDAQ:CAC)

Camden National Bank raised its position in Camden National Co. (NASDAQ:CAC) by 5.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 102,980 shares of the financial services provider’s stock after buying an additional 4,900 shares during the quarter. Camden National Bank’s holdings in Camden National were worth $4,461,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in Camden National by 6.1% in the 2nd quarter. Royal Bank of Canada now owns 15,176 shares of the financial services provider’s stock valued at $696,000 after buying an additional 868 shares during the period. Amundi Pioneer Asset Management Inc. increased its holdings in Camden National by 1.2% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 91,131 shares of the financial services provider’s stock valued at $31,073,000 after buying an additional 1,051 shares during the period. Susquehanna International Group LLP bought a new stake in shares of Camden National during the 2nd quarter valued at approximately $246,000. BRYN MAWR TRUST Co grew its holdings in shares of Camden National by 0.8% during the 2nd quarter. BRYN MAWR TRUST Co now owns 204,810 shares of the financial services provider’s stock valued at $9,395,000 after purchasing an additional 1,552 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in shares of Camden National during the 2nd quarter valued at approximately $4,145,000. 67.27% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Camden National stock traded down $0.01 during midday trading on Friday, hitting $42.40. 3,345 shares of the company traded hands, compared to its average volume of 32,876. The stock has a market cap of $659.39 million, a price-to-earnings ratio of 12.75 and a beta of 0.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s fifty day moving average price is $42.82 and its 200-day moving average price is $43.39. Camden National Co. has a 12 month low of $33.49 and a 12 month high of $47.25.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.07). The company had revenue of $41.61 million for the quarter, compared to the consensus estimate of $42.60 million. Camden National had a net margin of 27.38% and a return on equity of 12.54%.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, October 11th. Camden National’s dividend payout ratio (DPR) is presently 35.40%.

Several brokerages recently issued reports on CAC. Zacks Investment Research lowered shares of Camden National from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. ValuEngine raised shares of Camden National from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, BidaskClub raised shares of Camden National from a “sell” rating to a “hold” rating in a report on Saturday, September 14th.

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, as well as certificates of deposit.

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

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