GSA Capital Partners LLP purchased a new stake in Camden National Co. (NASDAQ:CAC – Get Rating) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,250 shares of the financial services provider's stock, valued at approximately $294,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new stake in shares of Camden National in the first quarter valued at about $33,000. BNP Paribas Arbitrage SA lifted its stake in shares of Camden National by 55.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 6,480 shares of the financial services provider's stock valued at $312,000 after buying an additional 2,323 shares during the period. Fiduciary Trust Co. lifted its stake in shares of Camden National by 191.7% in the fourth quarter. Fiduciary Trust Co. now owns 45,280 shares of the financial services provider's stock valued at $2,181,000 after buying an additional 29,755 shares during the period. First Trust Advisors LP lifted its stake in shares of Camden National by 11.8% in the fourth quarter. First Trust Advisors LP now owns 30,979 shares of the financial services provider's stock valued at $1,492,000 after buying an additional 3,258 shares during the period. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of Camden National in the first quarter valued at about $2,217,000. 66.03% of the stock is owned by institutional investors and hedge funds.
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Camden National Stock Down 1.1 %
NASDAQ CAC opened at $45.82 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a 50-day simple moving average of $45.53 and a 200 day simple moving average of $46.13. Camden National Co. has a twelve month low of $41.48 and a twelve month high of $52.16. The stock has a market cap of $670.12 million, a PE ratio of 10.83 and a beta of 0.80.
Camden National (NASDAQ:CAC – Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $1.02 EPS for the quarter, missing analysts' consensus estimates of $1.05 by ($0.03). The business had revenue of $47.68 million for the quarter, compared to the consensus estimate of $47.20 million. Camden National had a return on equity of 12.51% and a net
margin of 31.49%. During the same quarter in the prior year, the business earned $1.21 EPS. On average, research analysts forecast that Camden National Co. will post 4.28 EPS for the current year.
Camden National Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 15th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date was Thursday, July 14th. Camden National's dividend payout ratio is 37.83%.
Analyst Upgrades and Downgrades
Separately, Stephens cut shares of Camden National from an "overweight" rating to an "equal weight" rating and set a $48.00 target price for the company. in a research note on Thursday, August 4th.
Camden National Profile
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Camden National Corporation operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system.
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