Northern Trust Corp Cuts Stake in Camden National Co. (CAC)

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Northern Trust Corp lessened its position in shares of Camden National Co. (NASDAQ:CAC) by 3.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 198,147 shares of the financial services provider’s stock after selling 7,028 shares during the quarter. Northern Trust Corp owned approximately 1.27% of Camden National worth $7,127,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its holdings in Camden National by 3.1% in the third quarter. Wells Fargo & Company MN now owns 52,109 shares of the financial services provider’s stock worth $2,264,000 after purchasing an additional 1,579 shares during the period. JPMorgan Chase & Co. grew its holdings in Camden National by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 23,805 shares of the financial services provider’s stock worth $1,034,000 after purchasing an additional 2,346 shares during the period. BlackRock Inc. grew its holdings in Camden National by 1.0% in the third quarter. BlackRock Inc. now owns 1,136,484 shares of the financial services provider’s stock worth $49,368,000 after purchasing an additional 11,138 shares during the period. Credit Suisse AG grew its holdings in Camden National by 11.6% in the third quarter. Credit Suisse AG now owns 26,745 shares of the financial services provider’s stock worth $1,162,000 after purchasing an additional 2,772 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Camden National by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 800,213 shares of the financial services provider’s stock worth $34,761,000 after purchasing an additional 12,837 shares during the period. 67.08% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Camden National from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. ValuEngine upgraded shares of Camden National from a “sell” rating to a “hold” rating in a research note on Thursday, March 28th. Finally, BidaskClub downgraded shares of Camden National from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th.

In related news, CFO Deborah A. Jordan acquired 867 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $32.73 per share, for a total transaction of $28,376.91. Following the completion of the transaction, the chief financial officer now directly owns 55,500 shares in the company, valued at $1,816,515. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory A. Dufour acquired 1,607 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $32.73 per share, for a total transaction of $52,597.11. Following the transaction, the chief executive officer now owns 90,282 shares of the company’s stock, valued at $2,954,929.86. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 2,715 shares of company stock worth $88,862. 2.04% of the stock is owned by insiders.

Shares of NASDAQ CAC opened at $42.72 on Wednesday. The company has a market capitalization of $663.14 million, a PE ratio of 12.53 and a beta of 0.79. Camden National Co. has a 52-week low of $33.49 and a 52-week high of $47.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.81 and a current ratio of 0.81.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, January 29th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. The firm had revenue of $41.07 million for the quarter, compared to the consensus estimate of $40.30 million. Camden National had a net margin of 28.00% and a return on equity of 12.73%. On average, research analysts anticipate that Camden National Co. will post 3.55 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.20 dividend on an annualized basis and a yield of 2.81%. Camden National’s dividend payout ratio (DPR) is 35.40%.

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Camden National Company Profile

Camden National Corp. is a bank holding company, which through its bank subsidiary, engages in the provision of financial services to individuals and companies. Its services includes lending, checking, savings, and time deposits; cash management, brokerage, wealth management, and trust. The company was founded in 1984 and is headquartered in Camden, ME.

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

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