Camden National Corporation (CAC) Position Decreased by Clean Yield Group

Clean Yield Group reduced its stake in shares of Camden National Corporation (NASDAQ:CAC) by 11.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 46,699 shares of the financial services provider’s stock after selling 6,164 shares during the period. Clean Yield Group owned approximately 0.30% of Camden National Corporation worth $1,981,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CAC. Parametric Portfolio Associates LLC boosted its position in shares of 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 buying an additional 119 shares during the last quarter. Davis R M Inc. increased its stake in Camden National Corporation by 5.3% in the first quarter. Davis R M Inc. now owns 6,012 shares of the financial services provider’s stock valued at $265,000 after buying an additional 300 shares during the period. American International Group Inc. increased its stake 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 buying an additional 619 shares during the period. Cribstone Capital Management LLC increased its stake in Camden National Corporation by 13.6% in the first quarter. Cribstone Capital Management LLC now owns 5,184 shares of the financial services provider’s stock valued at $219,000 after buying an additional 620 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake 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 buying an additional 740 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

Shares of Camden National Corporation (CAC) traded down 2.03% during trading on Friday, reaching $38.54. 30,307 shares of the company’s stock were exchanged. Camden National Corporation has a 52 week low of $28.45 and a 52 week high of $45.43. The company’s 50-day moving average is $42.01 and its 200 day moving average is $42.15. The stock has a market capitalization of $597.83 million, a PE ratio of 14.33 and a beta of 0.78.

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

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

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

In other Camden National Corporation news, EVP June B. Parent sold 1,000 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $40.76, for a total value of $40,760.00. Following the sale, the executive vice president now directly owns 26,990 shares in the company, valued at $1,100,112.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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.

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

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