HM Payson & Co. cut its stake in shares of Camden National Co. (NASDAQ:CAC) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,725 shares of the financial services provider’s stock after selling 1,325 shares during the quarter. HM Payson & Co.’s holdings in Camden National were worth $1,505,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Camden National during the third quarter worth $208,000. Teacher Retirement System of Texas acquired a new position in Camden National during the fourth quarter worth $225,000. Aperio Group LLC raised its holdings in Camden National by 26.7% during the third quarter. Aperio Group LLC now owns 5,990 shares of the financial services provider’s stock worth $261,000 after buying an additional 1,263 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in Camden National during the fourth quarter worth $330,000. Finally, Citadel Advisors LLC raised its holdings in Camden National by 58.3% during the third quarter. Citadel Advisors LLC now owns 8,605 shares of the financial services provider’s stock worth $376,000 after buying an additional 3,168 shares during the last quarter. 64.69% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on the stock. ValuEngine upgraded shares of Camden National from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. BidaskClub upgraded shares of Camden National from a “sell” rating to a “hold” rating in a report on Saturday, March 3rd. Piper Jaffray Companies upped their price objective on shares of Camden National from $50.50 to $51.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $48.00 price objective on shares of Camden National in a report on Friday, December 22nd.
Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, January 30th. The financial services provider reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.02. The company had revenue of $39.50 million during the quarter. Camden National had a net margin of 16.30% and a return on equity of 10.54%. sell-side analysts expect that Camden National Co. will post 3.42 EPS for the current year.
In other news, CEO Gregory A. Dufour bought 1,810 shares of the stock in a transaction dated Thursday, March 15th. The stock was bought at an average price of $30.15 per share, for a total transaction of $54,571.50. Following the completion of the acquisition, the chief executive officer now directly owns 85,725 shares in the company, valued at approximately $2,584,608.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Deborah A. Jordan bought 961 shares of the stock in a transaction dated Thursday, March 15th. The stock was purchased at an average price of $30.15 per share, with a total value of $28,974.15. Following the acquisition, the chief financial officer now owns 51,702 shares of the company’s stock, valued at $1,558,815.30. The disclosure for this purchase can be found here. In the last quarter, insiders bought 3,308 shares of company stock valued at $99,736. 2.34% of the stock is currently owned by corporate insiders.
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About Camden National
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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