Camden National Corporation $CAC Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lessened its stake in shares of Camden National Corporation (NASDAQ:CAC) by 50.0% in the first quarter, Holdings Channel.com reports. The fund owned 11,377 shares of the financial services provider’s stock after selling 11,358 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Camden National were worth $540,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC grew its position in Camden National by 1.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 15,982 shares of the financial services provider’s stock worth $693,000 after purchasing an additional 284 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of Camden National by 11.9% during the third quarter. Quantbot Technologies LP now owns 3,545 shares of the financial services provider’s stock worth $137,000 after buying an additional 378 shares during the last quarter. Intech Investment Management LLC increased its position in Camden National by 6.1% during the third quarter. Intech Investment Management LLC now owns 7,282 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 421 shares during the period. PNC Financial Services Group Inc. raised its stake in Camden National by 106.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 878 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 452 shares during the last quarter. Finally, Creative Planning increased its holdings in shares of Camden National by 1.3% during the 3rd quarter. Creative Planning now owns 38,284 shares of the financial services provider’s stock worth $1,477,000 after purchasing an additional 496 shares during the period. 77.41% of the stock is owned by hedge funds and other institutional investors.

Camden National Stock Performance

Shares of Camden National stock opened at $57.79 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $977.81 million, a price-to-earnings ratio of 11.07 and a beta of 0.55. The stock’s 50-day moving average is $53.92 and its 200-day moving average is $50.23. Camden National Corporation has a one year low of $35.00 and a one year high of $60.59.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.29 by $0.06. Camden National had a return on equity of 12.73% and a net margin of 23.64%.The company had revenue of $67.41 million during the quarter, compared to the consensus estimate of $66.41 million. Equities analysts predict that Camden National Corporation will post 5.43 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were paid a dividend of $0.42 per share. The ex-dividend date was Wednesday, July 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.9%. Camden National’s dividend payout ratio (DPR) is 32.18%.

Analyst Ratings Changes

CAC has been the topic of a number of recent research reports. National Bank Financial set a $55.00 price objective on Camden National in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Camden National in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods boosted their target price on shares of Camden National from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Thursday, July 30th. Finally, Raymond James Financial lifted their price target on shares of Camden National from $56.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $55.25.

Camden National Company Profile

Camden National Corporation is a bank holding company headquartered in Camden, Maine. Through its primary subsidiary, Camden National Bank, the company provides a full range of community banking services to individuals and businesses. Its branch network spans much of the State of Maine, with a concentration in the midcoast, central and southern regions.

The company’s offerings include deposit products such as checking, savings and money market accounts, along with consumer and commercial lending services.