AQR Capital Management LLC boosted its position in Camden National Corporation (NASDAQ:CAC) by 23.9% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 39,288 shares of the financial services provider’s stock after buying an additional 7,577 shares during the period. AQR Capital Management LLC owned about 0.25% of Camden National Corporation worth $1,730,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of CAC. SG Americas Securities LLC purchased a new stake in shares of Camden National Corporation during the first quarter worth $124,000. Russell Investments Group Ltd. bought a new position in shares of Camden National Corporation during the fourth quarter worth about $136,000. Karp Capital Management Corp bought a new position in shares of Camden National Corporation during the first quarter worth about $210,000. Cribstone Capital Management LLC raised its position in shares of Camden National Corporation by 13.6% in the first quarter. Cribstone Capital Management LLC now owns 5,184 shares of the financial services provider’s stock worth $219,000 after buying an additional 620 shares during the period. Finally, Davis R M Inc. raised its position in shares of Camden National Corporation by 5.3% in the first quarter. Davis R M Inc. now owns 6,012 shares of the financial services provider’s stock worth $265,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 63.19% of the company’s stock.
Camden National Corporation (NASDAQ:CAC) opened at 39.09 on Friday. The company’s 50-day moving average is $41.55 and its 200-day moving average is $42.02. Camden National Corporation has a 12 month low of $29.49 and a 12 month high of $45.43. The company has a market cap of $606.36 million, a price-to-earnings ratio of 14.54 and a beta of 0.78.
Camden National Corporation (NASDAQ:CAC) last posted its quarterly earnings data 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. The firm had revenue of $38.51 million for the quarter. Camden National Corporation had a return on equity of 10.59% and a net margin of 24.65%. On average, equities research analysts anticipate that Camden National Corporation will post $2.68 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Monday, July 17th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, July 13th. Camden National Corporation’s payout ratio is 34.07%.
A number of brokerages recently issued reports on CAC. BidaskClub lowered shares of Camden National Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $48.00 target price on shares of Camden National Corporation in a research report on Friday, June 2nd.
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.
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