PDT Partners LLC Trims Position in Camden National Corporation (CAC)
PDT Partners LLC decreased its position in shares of Camden National Corporation (NASDAQ:CAC) by 20.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,200 shares of the financial services provider’s stock after selling 2,100 shares during the period. PDT Partners LLC owned 0.05% of Camden National Corporation worth $352,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. LSV Asset Management raised its holdings in Camden National Corporation by 41.7% during the second quarter. LSV Asset Management now owns 658,688 shares of the financial services provider’s stock valued at $28,264,000 after buying an additional 193,979 shares in the last quarter. Oxford Asset Management bought a new position in Camden National Corporation during the first quarter valued at about $653,000. Prudential Financial Inc. raised its holdings in Camden National Corporation by 7.4% during the second quarter. Prudential Financial Inc. now owns 97,538 shares of the financial services provider’s stock valued at $4,185,000 after buying an additional 6,730 shares in the last quarter. Rothschild Asset Management Inc. bought a new position in Camden National Corporation during the first quarter valued at about $871,000. Finally, Renaissance Technologies LLC raised its holdings in Camden National Corporation by 7.8% during the first quarter. Renaissance Technologies LLC now owns 354,449 shares of the financial services provider’s stock valued at $15,610,000 after buying an additional 25,749 shares in the last quarter. 64.72% of the stock is owned by hedge funds and other institutional investors.
In other news, Director John W. Holmes bought 1,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were bought at an average cost of $38.95 per share, with a total value of $38,950.00. Following the acquisition, the director now owns 19,756 shares in the company, valued at $769,496.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carl John Soderberg bought 3,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was purchased at an average cost of $38.46 per share, for a total transaction of $115,380.00. Following the completion of the acquisition, the director now owns 59,323 shares in the company, valued at approximately $2,281,562.58. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 5,000 shares of company stock valued at $192,900. Company insiders own 2.34% of the company’s stock.
Camden National Corporation (NASDAQ CAC) opened at 44.00 on Monday. Camden National Corporation has a 12-month low of $29.49 and a 12-month high of $45.43. The company has a market capitalization of $682.53 million, a price-to-earnings ratio of 16.36 and a beta of 0.82. The firm’s 50-day moving average price is $40.71 and its 200 day moving average price is $41.71.
Camden National Corporation (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.66 EPS for the quarter, missing the Zacks’ 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 for the quarter. On average, equities research analysts expect that Camden National Corporation will post $2.68 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.09%. Camden National Corporation’s dividend payout ratio is 34.07%.
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Separately, BidaskClub upgraded Camden National Corporation from a “sell” rating to a “hold” rating in a report on Thursday, September 21st.
Camden National Corporation 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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