Schwab Charles Investment Management Inc. Has $3.74 Million Position in Camden National Co. (CAC)

Schwab Charles Investment Management Inc. lifted its position in Camden National Co. (NASDAQ:CAC) by 3.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 85,644 shares of the financial services provider’s stock after purchasing an additional 3,151 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.55% of Camden National worth $3,738,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its stake in Camden National by 11.7% during the third quarter. Wells Fargo & Company MN now owns 47,042 shares of the financial services provider’s stock worth $2,053,000 after buying an additional 4,911 shares during the period. Citadel Advisors LLC boosted its stake in Camden National by 58.3% during the third quarter. Citadel Advisors LLC now owns 8,605 shares of the financial services provider’s stock worth $376,000 after buying an additional 3,168 shares during the period. Eagle Asset Management Inc. boosted its stake in Camden National by 3.9% during the third quarter. Eagle Asset Management Inc. now owns 58,857 shares of the financial services provider’s stock worth $2,592,000 after buying an additional 2,191 shares during the period. Camden National Bank boosted its stake in Camden National by 5.5% during the third quarter. Camden National Bank now owns 103,937 shares of the financial services provider’s stock worth $4,536,000 after buying an additional 5,394 shares during the period. Finally, Rothschild Asset Management Inc. boosted its stake in Camden National by 36.8% during the third quarter. Rothschild Asset Management Inc. now owns 70,242 shares of the financial services provider’s stock worth $3,065,000 after buying an additional 18,900 shares during the period. 63.44% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have weighed in on the stock. BidaskClub lowered shares of Camden National from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Keefe, Bruyette & Woods lowered shares of Camden National from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st.

In other news, EVP Edmund M. Hayden sold 2,340 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $45.56, for a total value of $106,610.40. Following the completion of the transaction, the executive vice president now owns 7,958 shares of the company’s stock, valued at $362,566.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Joanne T. Campbell sold 2,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $44.05, for a total transaction of $100,037.55. Following the completion of the transaction, the executive vice president now directly owns 17,916 shares of the company’s stock, valued at approximately $789,199.80. The disclosure for this sale can be found here. Company insiders own 2.34% of the company’s stock.

Camden National Co. (NASDAQ:CAC) opened at $43.62 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.17. Camden National Co. has a 12 month low of $37.10 and a 12 month high of $47.41. The company has a market cap of $676.81, a P/E ratio of 16.04 and a beta of 0.79.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Monday, January 15th will be paid a $0.25 dividend. This is a positive change from Camden National’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, January 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.29%. Camden National’s dividend payout ratio (DPR) is presently 36.76%.

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

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