Renaissance Technologies LLC boosted its position in shares of Camden National Corporation (NASDAQ:CAC) by 7.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 354,449 shares of the financial services provider’s stock after buying an additional 25,749 shares during the period. Renaissance Technologies LLC owned about 2.29% of Camden National Corporation worth $15,610,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Parametric Portfolio Associates LLC increased its position in shares of Camden National Corporation by 0.3% in the first quarter. Parametric Portfolio Associates LLC now owns 43,505 shares of the financial services provider’s stock worth $1,916,000 after buying an additional 119 shares during the period. Davis R M Inc. increased its position in shares of Camden National Corporation by 5.3% in the first quarter. Davis R M Inc. now owns 6,012 shares of the financial services provider’s stock worth $265,000 after buying an additional 300 shares during the period. American International Group Inc. increased its position in shares of Camden National Corporation by 7.1% in the first quarter. American International Group Inc. now owns 9,398 shares of the financial services provider’s stock worth $414,000 after buying an additional 619 shares during the period. Cribstone Capital Management LLC boosted its stake in shares of Camden National Corporation by 13.6% in the first quarter. Cribstone Capital Management LLC now owns 5,184 shares of the financial services provider’s stock worth $219,000 after buying an additional 620 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Camden National Corporation by 10.7% in the first quarter. PNC Financial Services Group Inc. now owns 7,656 shares of the financial services provider’s stock worth $337,000 after buying an additional 740 shares in the last quarter. Hedge funds and other institutional investors own 63.15% of the company’s stock.
Shares of Camden National Corporation (NASDAQ:CAC) traded down 0.55% during mid-day trading on Friday, hitting $41.34. The company’s stock had a trading volume of 13,421 shares. Camden National Corporation has a 1-year low of $28.40 and a 1-year high of $45.43. The stock has a market cap of $641.27 million, a PE ratio of 15.37 and a beta of 0.78. The company has a 50-day moving average price of $42.32 and a 200-day moving average price of $42.26.
Camden National Corporation (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The company had revenue of $38.51 million during the quarter. Camden National Corporation had a net margin of 24.65% and a return on equity of 10.68%. Analysts predict that Camden National Corporation will post $2.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, July 17th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, July 13th. Camden National Corporation’s payout ratio is 34.07%.
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CAC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $48.00 price target on shares of Camden National Corporation in a research report on Friday, June 2nd. BidaskClub cut Camden National Corporation from a “hold” rating to a “sell” rating in a research report on Saturday.
In other news, EVP June B. Parent sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $40.76, for a total value of $40,760.00. Following the completion of the transaction, the executive vice president now owns 26,990 shares in the company, valued at approximately $1,100,112.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.34% of the stock is owned by company insiders.
Camden National Corporation Company Profile
Camden National Corporation is a bank holding company. The Company is a diversified financial services provider. The primary business of the Company and its subsidiary, Camden National Bank (the Bank), is to attract deposits from, and to extend loans to, consumer, institutional, municipal, non-profit and commercial customers.
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