Fmr LLC reduced its stake in shares of Camden National Co. (NASDAQ:CAC) by 3.5% during the 3rd quarter, Holdings Channel reports. The firm owned 1,351,033 shares of the financial services provider’s stock after selling 48,404 shares during the quarter. Fmr LLC owned about 0.09% of Camden National worth $58,688,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAC. SG Americas Securities LLC bought a new stake in shares of Camden National during the second quarter valued at approximately $116,000. Atlantic Trust LLC bought a new stake in shares of Camden National during the second quarter valued at approximately $156,000. Millennium Management LLC bought a new position in Camden National in the first quarter valued at approximately $205,000. People s United Financial Inc. bought a new position in Camden National in the second quarter valued at approximately $210,000. Finally, Zebra Capital Management LLC bought a new position in Camden National in the second quarter valued at approximately $215,000. 64.37% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on CAC shares. BidaskClub cut shares of Camden National from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. ValuEngine cut shares of Camden National from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Finally, Zacks Investment Research cut shares of Camden National from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $48.17.

In other news, EVP Joanne T. Campbell sold 2,923 shares of Camden National stock in a transaction on Monday, December 10th. The shares were sold at an average price of $36.27, for a total transaction of $106,017.21. Following the transaction, the executive vice president now directly owns 20,914 shares of the company’s stock, valued at $758,550.78. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Carl John Soderberg purchased 3,000 shares of Camden National stock in a transaction dated Tuesday, December 11th. The shares were purchased at an average cost of $36.71 per share, for a total transaction of $110,130.00. Following the completion of the transaction, the director now owns 64,393 shares of the company’s stock, valued at $2,363,867.03. The disclosure for this purchase can be found here. 2.02% of the stock is currently owned by company insiders.

Shares of CAC stock opened at $36.25 on Tuesday. Camden National Co. has a 52-week low of $35.48 and a 52-week high of $47.86. The company has a market capitalization of $571.03 million, a price-to-earnings ratio of 11.41 and a beta of 0.65. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.17.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, October 30th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. Camden National had a net margin of 19.47% and a return on equity of 12.28%. The firm had revenue of $40.82 million for the quarter, compared to analysts’ expectations of $39.90 million. As a group, equities analysts anticipate that Camden National Co. will post 3.33 earnings per share for the current year.

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Camden National Profile

Camden National Corporation operates as the holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit, and commercial customers. It offers various deposit products, including demand, checking, saving, and money market accounts; and time deposits.

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

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