Renaissance Technologies LLC increased its stake in shares of Camden National Corporation (NASDAQ:CAC) by 7.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of Camden National Corporation during the fourth quarter worth $136,000. State Street Corp raised its stake in shares of Camden National Corporation by 69.4% in the fourth quarter. State Street Corp now owns 290,613 shares of the financial services provider’s stock worth $12,917,000 after buying an additional 119,041 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Camden National Corporation by 65.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 621,383 shares of the financial services provider’s stock worth $27,621,000 after buying an additional 244,991 shares in the last quarter. FMR LLC raised its stake in shares of Camden National Corporation by 13.4% in the fourth quarter. FMR LLC now owns 1,262,889 shares of the financial services provider’s stock worth $56,135,000 after buying an additional 149,008 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Camden National Corporation by 23.6% in the fourth quarter. GSA Capital Partners LLP now owns 7,100 shares of the financial services provider’s stock worth $316,000 after buying an additional 1,355 shares in the last quarter. Hedge funds and other institutional investors own 62.11% of the company’s stock.
Shares of Camden National Corporation (CAC) opened at 42.51 on Wednesday. The firm has a 50-day moving average price of $41.62 and a 200-day moving average price of $42.48. The stock has a market cap of $659.42 million, a price-to-earnings ratio of 16.04 and a beta of 0.78. Camden National Corporation has a one year low of $27.99 and a one year high of $45.43.
Camden National Corporation (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by $0.02. Camden National Corporation had a net margin of 24.36% and a return on equity of 10.61%. The firm had revenue of $36.43 million during the quarter. Analysts anticipate that Camden National Corporation will post $2.72 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Monday, July 17th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $0.92 annualized dividend and a dividend yield of 2.16%. Camden National Corporation’s payout ratio is currently 34.67%.
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Separately, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Camden National Corporation in a report on Friday, June 2nd.
In other Camden National Corporation news, EVP June B. Parent sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $40.76, for a total value of $40,760.00. Following the sale, the executive vice president now owns 26,990 shares in the company, valued at $1,100,112.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.34% of the stock is currently owned by company insiders.
About Camden National Corporation
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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