Fmr LLC Grows Position in Camden National Co. (CAC)

Fmr LLC increased its position in Camden National Co. (NASDAQ:CAC) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,398,724 shares of the financial services provider’s stock after acquiring an additional 47,691 shares during the period. Fmr LLC owned approximately 8.97% of Camden National worth $50,312,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CAC. Legal & General Group Plc lifted its stake in Camden National by 11.3% in the 4th quarter. Legal & General Group Plc now owns 2,840 shares of the financial services provider’s stock valued at $102,000 after buying an additional 288 shares in the last quarter. Bowling Portfolio Management LLC lifted its stake in Camden National by 2.0% in the 4th quarter. Bowling Portfolio Management LLC now owns 26,161 shares of the financial services provider’s stock valued at $941,000 after buying an additional 514 shares in the last quarter. Citigroup Inc. lifted its stake in Camden National by 17.5% in the 4th quarter. Citigroup Inc. now owns 4,999 shares of the financial services provider’s stock valued at $180,000 after buying an additional 743 shares in the last quarter. Walthausen & Co. LLC lifted its stake in Camden National by 0.8% in the 4th quarter. Walthausen & Co. LLC now owns 155,091 shares of the financial services provider’s stock valued at $5,579,000 after buying an additional 1,230 shares in the last quarter. Finally, Putnam FL Investment Management Co. lifted its stake in Camden National by 18.2% in the 4th quarter. Putnam FL Investment Management Co. now owns 9,510 shares of the financial services provider’s stock valued at $342,000 after buying an additional 1,465 shares in the last quarter. Institutional investors and hedge funds own 67.08% of the company’s stock.

CAC has been the topic of a number of recent research reports. BidaskClub lowered Camden National from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. ValuEngine raised Camden National from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Zacks Investment Research lowered Camden National from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd.

Shares of Camden National stock opened at $42.72 on Wednesday. Camden National Co. has a fifty-two week low of $33.49 and a fifty-two week high of $47.86. The firm has a market cap of $663.14 million, a price-to-earnings ratio of 12.60 and a beta of 0.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.81 and a current ratio of 0.81.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, January 29th. The financial services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. Camden National had a return on equity of 12.73% and a net margin of 28.00%. The company had revenue of $41.07 million for the quarter, compared to analyst estimates of $40.30 million. Analysts expect that Camden National Co. will post 3.55 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, April 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.81%. Camden National’s payout ratio is 35.40%.

In other news, CEO Gregory A. Dufour acquired 1,607 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $32.73 per share, for a total transaction of $52,597.11. Following the acquisition, the chief executive officer now directly owns 90,282 shares in the company, valued at approximately $2,954,929.86. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Deborah A. Jordan acquired 867 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $32.73 per share, with a total value of $28,376.91. Following the completion of the acquisition, the chief financial officer now owns 55,500 shares in the company, valued at $1,816,515. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 2,715 shares of company stock valued at $88,862. Insiders own 2.04% of the company’s stock.

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Camden National Profile

Camden National Corp. is a bank holding company, which through its bank subsidiary, engages in the provision of financial services to individuals and companies. Its services includes lending, checking, savings, and time deposits; cash management, brokerage, wealth management, and trust. The company was founded in 1984 and is headquartered in Camden, ME.

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

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