Schwab Charles Investment Management Inc. lifted its stake in shares of Camden National Corporation (NASDAQ:CAC) by 17.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,493 shares of the financial services provider’s stock after acquiring an additional 12,109 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.53% of Camden National Corporation worth $3,540,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of CAC. FMR LLC grew its position in Camden National Corporation by 10.8% in the first quarter. FMR LLC now owns 1,399,131 shares of the financial services provider’s stock valued at $61,618,000 after purchasing an additional 136,242 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Camden National Corporation by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 655,979 shares of the financial services provider’s stock valued at $28,890,000 after purchasing an additional 34,596 shares in the last quarter. Vanguard Group Inc. grew its position in Camden National Corporation by 7.2% in the first quarter. Vanguard Group Inc. now owns 640,571 shares of the financial services provider’s stock valued at $28,211,000 after purchasing an additional 42,931 shares in the last quarter. Renaissance Technologies LLC grew its position in Camden National Corporation by 7.8% in the first quarter. Renaissance Technologies LLC now owns 354,449 shares of the financial services provider’s stock valued at $15,610,000 after purchasing an additional 25,749 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Camden National Corporation by 25.9% in the first quarter. Bank of New York Mellon Corp now owns 280,590 shares of the financial services provider’s stock valued at $12,357,000 after acquiring an additional 57,697 shares during the last quarter. 64.96% of the stock is owned by institutional investors.
Camden National Corporation (NASDAQ CAC) opened at 44.46 on Friday. The firm has a market cap of $689.66 million, a P/E ratio of 16.53 and a beta of 0.82. Camden National Corporation has a 52-week low of $32.50 and a 52-week high of $45.43. The company’s 50 day moving average is $42.35 and its 200-day moving average is $41.82.
Camden National Corporation (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The business had revenue of $38.51 million during the quarter. Camden National Corporation had a return on equity of 10.59% and a net margin of 24.65%. On average, equities analysts predict that Camden National Corporation will post $2.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, October 12th. This represents a $0.92 annualized dividend and a dividend yield of 2.07%. Camden National Corporation’s payout ratio is presently 34.07%.
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In other news, Director John W. Holmes acquired 1,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were acquired at an average cost of $38.95 per share, with a total value of $38,950.00. Following the acquisition, the director now directly owns 19,756 shares of the company’s stock, valued at $769,496.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Carl John Soderberg acquired 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were purchased at an average cost of $38.46 per share, for a total transaction of $115,380.00. Following the completion of the acquisition, the director now directly owns 59,323 shares in the company, valued at $2,281,562.58. The disclosure for this purchase can be found here. Insiders have bought 5,000 shares of company stock valued at $192,900 over the last 90 days. Corporate insiders own 2.34% of the company’s stock.
Separately, BidaskClub upgraded shares of Camden National Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st.
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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