LSV Asset Management Increases Position in Camden National Corporation (CAC)
LSV Asset Management lifted its position in shares of Camden National Corporation (NASDAQ:CAC) by 41.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 658,688 shares of the financial services provider’s stock after buying an additional 193,979 shares during the period. LSV Asset Management owned about 4.25% of Camden National Corporation worth $28,264,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its holdings in shares of Camden National Corporation by 479.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,340 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,936 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Camden National Corporation during the 1st quarter valued at about $124,000. Legal & General Group Plc raised its holdings in shares of Camden National Corporation by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 3,817 shares of the financial services provider’s stock valued at $165,000 after buying an additional 153 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of Camden National Corporation during the 1st quarter valued at about $210,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Camden National Corporation during the 2nd quarter valued at about $220,000. 64.72% of the stock is currently owned by institutional investors.
Camden National Corporation (NASDAQ CAC) opened at 39.00 on Tuesday. Camden National Corporation has a 52 week low of $29.49 and a 52 week high of $45.43. The stock has a market capitalization of $604.97 million, a PE ratio of 14.50 and a beta of 0.79. The firm has a 50-day moving average price of $39.90 and a 200-day moving average price of $41.77.
Camden National Corporation (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by $0.01. Camden National Corporation had a return on equity of 10.59% and a net margin of 24.65%. The business had revenue of $38.51 million during the quarter. Equities research analysts predict that Camden National Corporation will post $2.68 EPS for the current fiscal year.
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A number of equities analysts have commented on CAC shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $48.00 price target on shares of Camden National Corporation in a research note on Friday, June 2nd. BidaskClub cut Camden National Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday.
In other news, Director John W. Holmes acquired 1,000 shares of Camden National Corporation stock in a transaction on Wednesday, September 6th. The shares were bought at an average cost of $38.57 per share, for a total transaction of $38,570.00. Following the acquisition, the director now directly owns 18,356 shares of the company’s stock, valued at approximately $707,990.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carl John Soderberg acquired 3,000 shares of Camden National Corporation stock in a transaction on Tuesday, September 5th. The shares were purchased at an average price of $38.46 per share, for a total transaction of $115,380.00. Following the completion of the acquisition, the director now directly owns 59,323 shares in the company, valued at $2,281,562.58. The disclosure for this purchase can be found here. 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.
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