Qube Research & Technologies Ltd bought a new stake in shares of Camden National Co. (NASDAQ:CAC – Get Rating) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,655 shares of the financial services provider's stock, valued at approximately $313,000.
Other hedge funds have also added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D bought a new stake in shares of Camden National during the 1st quarter valued at about $2,217,000. Renaissance Technologies LLC lifted its position in Camden National by 8.9% in the 4th quarter. Renaissance Technologies LLC now owns 369,300 shares of the financial services provider's stock worth $17,785,000 after buying an additional 30,200 shares during the last quarter. Fiduciary Trust Co. lifted its position in Camden National by 191.7% in the 4th quarter. Fiduciary Trust Co. now owns 45,280 shares of the financial services provider's stock worth $2,181,000 after buying an additional 29,755 shares during the last quarter. Principal Financial Group Inc. bought a new stake in Camden National in the 4th quarter worth approximately $607,000. Finally, Barclays PLC lifted its position in Camden National by 41.3% in the 4th quarter. Barclays PLC now owns 42,520 shares of the financial services provider's stock worth $2,048,000 after buying an additional 12,422 shares during the last quarter. Hedge funds and other institutional investors own 66.03% of the company's stock.
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Camden National Stock Performance
Shares of CAC stock opened at $46.47 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.76 and a current ratio of 0.76. Camden National Co. has a fifty-two week low of $41.48 and a fifty-two week high of $52.16. The stock has a 50 day moving average price of $45.41 and a two-hundred day moving average price of $46.22. The company has a market capitalization of $679.62 million, a P/E ratio of 10.99 and a beta of 0.80.
Camden National (NASDAQ:CAC – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.03). Camden National had a net
margin of 31.49% and a return on equity of 12.51%. The company had revenue of $47.68 million during the quarter, compared to the consensus estimate of $47.20 million. During the same quarter in the previous year, the firm posted $1.21 EPS. Analysts expect that Camden National Co. will post 4.28 earnings per share for the current year.
Camden National Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 15th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, July 14th. This represents a $1.60 annualized dividend and a yield of 3.44%. Camden National's payout ratio is currently 37.83%.
Analyst Ratings Changes
Separately, Stephens downgraded Camden National from an "overweight" rating to an "equal weight" rating and set a $48.00 target price for the company. in a research report 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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