Bank of America Corp DE lowered its position in Camden National Corporation (NASDAQ:CAC) by 41.9% during the first quarter, Holdings Channel reports. The institutional investor owned 56,142 shares of the financial services provider’s stock after selling 40,467 shares during the period. Bank of America Corp DE’s holdings in Camden National Corporation were worth $2,472,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Prudential Financial Inc. raised its stake in Camden National Corporation by 46.7% in the first quarter. Prudential Financial Inc. now owns 90,808 shares of the financial services provider’s stock worth $3,999,000 after buying an additional 28,900 shares in the last quarter. Oxford Asset Management bought a new stake in Camden National Corporation during the first quarter worth $653,000. Parametric Portfolio Associates LLC raised its stake in 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 in the last quarter. Eagle Asset Management Inc. raised its stake in Camden National Corporation by 14.8% in the first quarter. Eagle Asset Management Inc. now owns 44,481 shares of the financial services provider’s stock worth $1,958,000 after buying an additional 5,743 shares in the last quarter. Finally, Camden National Bank raised its stake in Camden National Corporation by 2.4% in the first quarter. Camden National Bank now owns 100,255 shares of the financial services provider’s stock worth $4,415,000 after buying an additional 2,334 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.
Shares of Camden National Corporation (NASDAQ CAC) traded down 0.80% during trading on Thursday, hitting $39.48. The stock had a trading volume of 5,065 shares. Camden National Corporation has a one year low of $28.45 and a one year high of $45.43. The stock has a market cap of $612.41 million, a P/E ratio of 14.68 and a beta of 0.78. The stock’s 50 day moving average price is $42.10 and its 200-day moving average price is $42.20.
Camden National Corporation (NASDAQ:CAC) last posted its quarterly earnings data 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. Camden National Corporation had a net margin of 24.65% and a return on equity of 10.59%. The business had revenue of $38.51 million during the quarter. Analysts expect that Camden National Corporation will post $2.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, July 17th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.31%. Camden National Corporation’s dividend payout ratio (DPR) is 34.07%.
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CAC has been the topic of a number of recent analyst reports. BidaskClub downgraded Camden National Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $48.00 price target on shares of Camden National Corporation in a research report on Friday, June 2nd.
In other news, EVP June B. Parent sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $40.76, for a total transaction of $40,760.00. Following the transaction, the executive vice president now directly owns 26,990 shares in the company, valued at $1,100,112.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.34% of the company’s stock.
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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