Principal Financial Group Inc. cut its holdings in shares of Camden National Co. (NASDAQ:CAC – Get Rating) by 33.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,406 shares of the financial services provider's stock after selling 4,194 shares during the quarter. Principal Financial Group Inc. owned about 0.06% of Camden National worth $395,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in Camden National by 55.9% during the fourth quarter. BNP Paribas Arbitrage SA now owns 6,480 shares of the financial services provider's stock worth $312,000 after purchasing an additional 2,323 shares during the period. Fiduciary Trust Co. raised its stake in Camden National by 191.7% during the fourth quarter. Fiduciary Trust Co. now owns 45,280 shares of the financial services provider's stock worth $2,181,000 after purchasing an additional 29,755 shares during the period. First Trust Advisors LP raised its stake in Camden National by 11.8% during the fourth quarter. First Trust Advisors LP now owns 30,979 shares of the financial services provider's stock worth $1,492,000 after purchasing an additional 3,258 shares during the period. State of New Jersey Common Pension Fund D purchased a new position in Camden National during the first quarter worth about $2,217,000. Finally, Dean Investment Associates LLC raised its stake in Camden National by 22.8% during the fourth quarter. Dean Investment Associates LLC now owns 61,046 shares of the financial services provider's stock worth $2,940,000 after purchasing an additional 11,334 shares during the period. 67.96% of the stock is currently owned by institutional investors and hedge funds.
Get Camden National alerts:Wall Street Analyst Weigh In
Separately, Stephens downgraded shares of Camden National from an "overweight" rating to an "equal weight" rating and set a $48.00 target price on the stock. in a research note on Thursday, August 4th.
Camden National Price Performance
Camden National stock opened at $44.94 on Friday. Camden National Co. has a 1 year low of $41.48 and a 1 year high of $52.16. The company's 50 day simple moving average is $45.55 and its 200-day simple moving average is $46.12. The company has a market capitalization of $657.25 million, a price-to-earnings ratio of 10.62 and a beta of 0.80. 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 (NASDAQ:CAC – Get Rating) last announced its earnings results 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 return on equity of 12.51% and a net margin of 31.49%. The business had revenue of $47.68 million for the quarter, compared to analysts' expectations of $47.20 million. During the same period in the previous year, the company earned $1.21 earnings per share. As a group, equities research analysts expect that Camden National Co. will post 4.28 earnings per share for the current year.
Camden National Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Thursday, July 14th. Camden National's payout ratio is currently 37.83%.
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.
Further Reading
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