Wellington Management Group LLP Has $4.71 Million Holdings in Camden National Corporation $CAC

Wellington Management Group LLP decreased its holdings in Camden National Corporation (NASDAQ:CAC) by 57.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 86,792 shares of the financial services provider’s stock after selling 118,441 shares during the period. Wellington Management Group LLP’s holdings in Camden National were worth $4,706,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CAC. AQR Capital Management LLC lifted its holdings in Camden National by 151.1% during the 1st quarter. AQR Capital Management LLC now owns 24,455 shares of the financial services provider’s stock worth $990,000 after buying an additional 14,715 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Camden National by 20.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,925 shares of the financial services provider’s stock valued at $402,000 after buying an additional 1,661 shares during the period. Empowered Funds LLC increased its stake in shares of Camden National by 8.4% in the first quarter. Empowered Funds LLC now owns 43,043 shares of the financial services provider’s stock valued at $1,742,000 after buying an additional 3,318 shares during the period. Jane Street Group LLC acquired a new position in shares of Camden National in the 1st quarter worth approximately $1,019,000. Finally, Legal & General Group Plc raised its stake in Camden National by 8.5% during the second quarter. Legal & General Group Plc now owns 18,178 shares of the financial services provider’s stock worth $738,000 after buying an additional 1,423 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors and hedge funds.

Camden National Trading Down 0.2%

CAC opened at $57.18 on Thursday. Camden National Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $60.59. The firm has a market capitalization of $966.34 million, a PE ratio of 10.95 and a beta of 0.54. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.82. The company’s 50-day moving average is $56.43 and its 200 day moving average is $51.69.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, July 28th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.06. The company had revenue of $67.41 million for the quarter, compared to analyst estimates of $66.41 million. Camden National had a return on equity of 12.59% and a net margin of 23.64%. As a group, research analysts predict that Camden National Corporation will post 5.43 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, July 15th. Camden National’s dividend payout ratio is presently 32.18%.

Analysts Set New Price Targets

Several research firms recently issued reports on CAC. Weiss Ratings restated a “buy (b)” rating on shares of Camden National in a report on Friday, September 4th. Keefe, Bruyette & Woods increased their price target on Camden National from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. National Bank Financial set a $55.00 price objective on Camden National in a research report on Thursday, July 30th. Finally, Raymond James Financial boosted their price objective on Camden National from $56.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.25.

Camden National Company Profile

Camden National Corporation is a bank holding company headquartered in Camden, Maine. Through its primary subsidiary, Camden National Bank, the company provides a full range of community banking services to individuals and businesses. Its branch network spans much of the State of Maine, with a concentration in the midcoast, central and southern regions.

The company’s offerings include deposit products such as checking, savings and money market accounts, along with consumer and commercial lending services.