Camden National Co. (CAC) Stake Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of Camden National Co. (NASDAQ:CAC) by 2.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 282,119 shares of the financial services provider’s stock after selling 8,350 shares during the quarter. Bank of New York Mellon Corp owned about 1.82% of Camden National worth $12,312,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CAC. Teachers Advisors LLC lifted its position in shares of Camden National by 4.0% during the 1st quarter. Teachers Advisors LLC now owns 30,740 shares of the financial services provider’s stock worth $1,354,000 after buying an additional 1,179 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Camden National by 17.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 82,493 shares of the financial services provider’s stock worth $3,540,000 after buying an additional 12,109 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Camden National by 7.0% during the 2nd quarter. Rhumbline Advisers now owns 18,013 shares of the financial services provider’s stock worth $773,000 after buying an additional 1,185 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Camden National by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 3,817 shares of the financial services provider’s stock worth $165,000 after buying an additional 153 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Camden National by 479.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,340 shares of the financial services provider’s stock worth $100,000 after buying an additional 1,936 shares during the last quarter. Hedge funds and other institutional investors own 62.13% of the company’s stock.

Several analysts recently weighed in on the company. BidaskClub downgraded Camden National from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Keefe, Bruyette & Woods restated a “hold” rating and set a $48.00 price objective on shares of Camden National in a research report on Friday.

Shares of Camden National Co. (CAC) opened at $43.07 on Friday. The firm has a market capitalization of $673.40, a PE ratio of 15.83 and a beta of 0.79. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.79 and a quick ratio of 0.79. Camden National Co. has a one year low of $37.10 and a one year high of $47.41.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Monday, January 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.00 annualized dividend and a yield of 2.32%. This is a boost from Camden National’s previous quarterly dividend of $0.23. Camden National’s dividend payout ratio (DPR) is currently 33.82%.

In other Camden National news, EVP Joanne T. Campbell sold 2,271 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $44.05, for a total value of $100,037.55. Following the transaction, the executive vice president now owns 17,916 shares in the company, valued at $789,199.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Edmund M. Hayden sold 2,340 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $45.56, for a total value of $106,610.40. Following the completion of the transaction, the executive vice president now owns 7,958 shares in the company, valued at approximately $362,566.48. The disclosure for this sale can be found here. Company insiders own 2.34% of the company’s stock.

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Camden National Company Profile

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 (NASDAQ:CAC)

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