Metropolitan Life Insurance Co. NY reduced its position in shares of Camden National Corporation (NASDAQ:CAC) by 5.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 10,810 shares of the financial services provider’s stock after selling 676 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Camden National Corporation were worth $476,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAC. Oxford Asset Management acquired a new stake in Camden National Corporation during the first quarter valued at about $653,000. Prudential Financial Inc. raised its stake in Camden National Corporation by 46.7% in the first quarter. Prudential Financial Inc. now owns 90,808 shares of the financial services provider’s stock valued at $3,999,000 after buying an additional 28,900 shares during the period. Rothschild Asset Management Inc. acquired a new stake in Camden National Corporation during the first quarter valued at about $871,000. Renaissance Technologies LLC raised its stake in Camden National Corporation by 7.8% in the first quarter. Renaissance Technologies LLC now owns 354,449 shares of the financial services provider’s stock valued at $15,610,000 after buying an additional 25,749 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in Camden National Corporation during the fourth quarter valued at about $136,000. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Camden National Corporation (NASDAQ:CAC) traded down 2.03% during mid-day trading on Friday, hitting $38.54. 30,307 shares of the stock traded hands. The company’s 50 day moving average price is $42.01 and its 200-day moving average price is $42.15. Camden National Corporation has a 1-year low of $28.45 and a 1-year high of $45.43. The stock has a market cap of $597.83 million, a price-to-earnings ratio of 14.33 and a beta of 0.78.

Camden National Corporation (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by $0.01. The company 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 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, July 17th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Thursday, July 13th. Camden National Corporation’s payout ratio is currently 34.07%.

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Several analysts have recently issued reports on the stock. BidaskClub lowered shares of Camden National Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $48.00 price target on shares of Camden National Corporation in a research report on Friday, June 2nd.

In other news, EVP June B. Parent sold 1,000 shares of Camden National Corporation stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $40.76, for a total transaction of $40,760.00. Following the sale, the executive vice president now owns 26,990 shares in the company, valued at $1,100,112.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.34% of the company’s stock.

About Camden National Corporation

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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Institutional Ownership by Quarter for Camden National Corporation (NASDAQ:CAC)

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