First Trust Advisors LP reduced its holdings in shares of Camden National Corporation (NASDAQ:CAC) by 10.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,779 shares of the financial services provider’s stock after selling 4,482 shares during the quarter. First Trust Advisors LP owned 0.24% of Camden National Corporation worth $1,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Parametric Portfolio Associates LLC lifted its holdings in Camden National Corporation by 0.3% in the first quarter. Parametric Portfolio Associates LLC now owns 43,505 shares of the financial services provider’s stock valued at $1,916,000 after acquiring an additional 119 shares during the period. American International Group Inc. lifted its holdings in Camden National Corporation by 7.1% in the first quarter. American International Group Inc. now owns 9,398 shares of the financial services provider’s stock valued at $414,000 after acquiring an additional 619 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Camden National Corporation by 10.7% in the first quarter. PNC Financial Services Group Inc. now owns 7,656 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 740 shares during the period. Teachers Advisors LLC lifted its holdings in Camden National Corporation by 4.0% in the first quarter. Teachers Advisors LLC now owns 30,740 shares of the financial services provider’s stock valued at $1,354,000 after acquiring an additional 1,179 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its holdings in Camden National Corporation by 1.9% in the first quarter. TIAA CREF Investment Management LLC now owns 62,456 shares of the financial services provider’s stock valued at $2,751,000 after acquiring an additional 1,193 shares during the period. 64.72% of the stock is currently owned by hedge funds and other institutional investors.

Camden National Corporation (NASDAQ CAC) opened at 40.01 on Friday. Camden National Corporation has a 12-month low of $29.49 and a 12-month high of $45.43. The company has a market cap of $620.64 million, a P/E ratio of 14.88 and a beta of 0.79. The firm has a 50-day moving average price of $39.61 and a 200-day moving average price of $41.68.

Camden National Corporation (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.66 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.01). Camden National Corporation had a return on equity of 10.59% and a net margin of 24.65%. The firm had revenue of $38.51 million for the quarter. On average, analysts forecast that Camden National Corporation will post $2.68 earnings per share for the current fiscal year.

A number of research analysts have weighed in on CAC shares. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $48.00 target price on shares of Camden National Corporation in a report on Friday, June 2nd. BidaskClub downgraded Camden National Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th.

In other news, Director John W. Holmes purchased 1,000 shares of the stock in a transaction on Monday, September 11th. The stock was bought at an average price of $38.95 per share, with a total value of $38,950.00. Following the transaction, the director now owns 19,756 shares in the company, valued at approximately $769,496.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carl John Soderberg purchased 3,000 shares of the stock in a transaction on Tuesday, September 5th. The shares were purchased at an average cost of $38.46 per share, with a total value of $115,380.00. Following the transaction, the director now owns 59,323 shares in the company, valued at approximately $2,281,562.58. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 5,000 shares of company stock valued at $192,900. 2.34% of the stock is currently owned by insiders.

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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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