Citigroup Inc. Grows Position in Camden National Corporation (CAC)
Citigroup Inc. lifted its stake in shares of Camden National Corporation (NASDAQ:CAC) by 696.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,772 shares of the financial services provider’s stock after acquiring an additional 4,173 shares during the period. Citigroup Inc.’s holdings in Camden National Corporation were worth $205,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its position 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 acquiring an additional 1,936 shares during the period. SG Americas Securities LLC acquired a new position in shares of Camden National Corporation during the 1st quarter valued at $124,000. Legal & General Group Plc lifted its position 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 acquiring an additional 153 shares during the period. Karp Capital Management Corp acquired a new position in shares of Camden National Corporation during the 1st quarter valued at $210,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Camden National Corporation during the 2nd quarter valued at $220,000. Institutional investors own 64.72% of the company’s stock.
In other news, Director John W. Holmes acquired 1,000 shares of the stock in a transaction on Monday, September 11th. The stock was acquired at an average price of $38.95 per share, with a total value of $38,950.00. Following the completion of the transaction, the director now owns 19,756 shares of the company’s stock, valued at approximately $769,496.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carl John Soderberg acquired 3,000 shares of the stock in a transaction on Tuesday, September 5th. The shares were purchased at an average cost of $38.46 per share, with a total value of $115,380.00. Following the transaction, the director now directly owns 59,323 shares of the company’s stock, valued at approximately $2,281,562.58. The disclosure for this purchase can be found here. Insiders purchased 5,000 shares of company stock valued at $192,900 in the last ninety days. 2.34% of the stock is currently owned by insiders.
Camden National Corporation (CAC) opened at 44.50 on Friday. Camden National Corporation has a 52-week low of $30.61 and a 52-week high of $45.43. The company’s 50 day moving average is $42.03 and its 200-day moving average is $41.80. The firm has a market cap of $690.28 million, a P/E ratio of 16.55 and a beta of 0.82.
Camden National Corporation (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.66 EPS for the quarter, missing analysts’ consensus estimates 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. On average, equities analysts predict that Camden National Corporation will post $2.68 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 13th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Thursday, October 12th. Camden National Corporation’s payout ratio is 34.07%.
Separately, BidaskClub downgraded shares of Camden National Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 8th.
Camden National Corporation 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.
Want to see what other hedge funds are holding CAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Camden National Corporation (NASDAQ:CAC).
Receive News & Stock Ratings for Camden National Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Camden National Corporation and related stocks with our FREE daily email newsletter.