Means Investment CO. Inc. reduced its stake in Camden National Co. (NASDAQ:CAC) by 1.2% in the first quarter, HoldingsChannel reports. The fund owned 35,304 shares of the financial services provider’s stock after selling 429 shares during the quarter. Means Investment CO. Inc.’s holdings in Camden National were worth $1,690,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CAC. BlackRock Inc. raised its holdings in shares of Camden National by 3.5% in the 4th quarter. BlackRock Inc. now owns 1,247,105 shares of the financial services provider’s stock worth $44,623,000 after purchasing an additional 41,682 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Camden National by 34.2% in the 4th quarter. JPMorgan Chase & Co. now owns 156,685 shares of the financial services provider’s stock worth $5,606,000 after purchasing an additional 39,924 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Camden National by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 140,028 shares of the financial services provider’s stock worth $5,011,000 after purchasing an additional 442 shares in the last quarter. Camden National Bank raised its holdings in shares of Camden National by 21.6% in the 4th quarter. Camden National Bank now owns 127,476 shares of the financial services provider’s stock worth $4,561,000 after purchasing an additional 22,631 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Camden National by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 98,623 shares of the financial services provider’s stock worth $3,529,000 after purchasing an additional 1,290 shares in the last quarter. 63.79% of the stock is owned by institutional investors.

CAC has been the topic of several research reports. Zacks Investment Research lowered shares of Camden National from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 30th. Raymond James upgraded shares of Camden National from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Wednesday, January 27th. They noted that the move was a valuation call.

In other Camden National news, EVP Gregory A. White bought 1,000 shares of the firm’s stock in a transaction on Friday, February 5th. The stock was bought at an average cost of $39.79 per share, with a total value of $39,790.00. Following the completion of the transaction, the executive vice president now directly owns 2,928 shares of the company’s stock, valued at approximately $116,505.12. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.23% of the company’s stock.

Camden National stock traded down $0.09 during trading hours on Thursday, hitting $47.31. The company had a trading volume of 872 shares, compared to its average volume of 45,940. The firm has a market capitalization of $707.47 million, a P/E ratio of 12.74 and a beta of 1.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.79. The firm’s fifty day moving average is $45.38 and its 200-day moving average is $37.79. Camden National Co. has a fifty-two week low of $25.74 and a fifty-two week high of $49.65.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Monday, January 25th. The financial services provider reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.29. The firm had revenue of $49.79 million for the quarter, compared to analyst estimates of $45.64 million. Camden National had a net margin of 27.17% and a return on equity of 11.37%. Analysts anticipate that Camden National Co. will post 3.64 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Shareholders of record on Thursday, April 15th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.04%. This is an increase from Camden National’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, April 14th. Camden National’s payout ratio is currently 35.77%.

Camden National Company Profile

Camden National Corporation operates as the holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit, and commercial customers. It offers various deposit products, including demand, checking, saving, and money market accounts; and time deposits, as well as certificates of deposit.

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

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