Camden National Corporation (NASDAQ:CAC) Position Boosted by Rothschild Asset Management Inc.
Rothschild Asset Management Inc. raised its stake in shares of Camden National Corporation (NASDAQ:CAC) by 159.5% during the second quarter, Holdings Channel reports. The firm owned 51,342 shares of the financial services provider’s stock after buying an additional 31,559 shares during the period. Rothschild Asset Management Inc.’s holdings in Camden National Corporation were worth $2,203,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. BTIM Corp. acquired a new stake in Camden National Corporation during the second quarter valued at approximately $7,207,000. LSV Asset Management boosted its stake in Camden National Corporation by 54.4% in the first quarter. LSV Asset Management now owns 464,709 shares of the financial services provider’s stock valued at $20,465,000 after buying an additional 163,761 shares during the period. FMR LLC boosted its stake in Camden National Corporation by 10.8% in the first quarter. FMR LLC now owns 1,399,131 shares of the financial services provider’s stock valued at $61,618,000 after buying an additional 136,242 shares during the period. State Street Corp boosted its stake in Camden National Corporation by 69.4% in the fourth quarter. State Street Corp now owns 290,613 shares of the financial services provider’s stock valued at $12,917,000 after buying an additional 119,041 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Camden National Corporation by 25.9% in the first quarter. Bank of New York Mellon Corp now owns 280,590 shares of the financial services provider’s stock valued at $12,357,000 after buying an additional 57,697 shares during the period. Institutional investors own 63.38% of the company’s stock.
Camden National Corporation (NASDAQ CAC) opened at 40.88 on Wednesday. The firm has a market capitalization of $634.13 million, a price-to-earnings ratio of 15.20 and a beta of 0.78. Camden National Corporation has a 1-year low of $28.40 and a 1-year high of $45.43. The stock has a 50 day moving average price of $42.22 and a 200 day moving average price of $42.24.
Camden National Corporation (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by $0.01. The business had revenue of $38.51 million for the quarter. Camden National Corporation had a net margin of 24.65% and a return on equity of 10.59%. Analysts predict that Camden National Corporation will post $2.68 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Monday, July 17th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Thursday, July 13th. Camden National Corporation’s payout ratio is currently 34.07%.
CAC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods restated a “buy” rating and issued a $48.00 price target on shares of Camden National Corporation in a report on Friday, June 2nd. BidaskClub cut Camden National Corporation from a “hold” rating to a “sell” rating in a report on Saturday.
In other Camden National Corporation news, EVP June B. Parent sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $40.76, for a total value of $40,760.00. Following the transaction, the executive vice president now directly owns 26,990 shares of the company’s stock, valued at approximately $1,100,112.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate 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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