Metropolitan Life Insurance Co. NY grew its holdings in Camden National Co. (NASDAQ:CAC) by 346.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,890 shares of the financial services provider’s stock after acquiring an additional 3,794 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Camden National were worth $176,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Bowling Portfolio Management LLC lifted its stake in shares of Camden National by 2.0% in the 4th quarter. Bowling Portfolio Management LLC now owns 26,161 shares of the financial services provider’s stock valued at $941,000 after purchasing an additional 514 shares during the period. Citigroup Inc. lifted its stake in shares of Camden National by 17.5% in the 4th quarter. Citigroup Inc. now owns 4,999 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 743 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Camden National by 3.1% in the 3rd quarter. Wells Fargo & Company MN now owns 52,109 shares of the financial services provider’s stock valued at $2,264,000 after purchasing an additional 1,579 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Camden National by 1,746.3% in the 4th quarter. Great West Life Assurance Co. Can now owns 1,754 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 1,659 shares during the period. Finally, IndexIQ Advisors LLC lifted its stake in shares of Camden National by 3.9% in the 3rd quarter. IndexIQ Advisors LLC now owns 51,084 shares of the financial services provider’s stock valued at $2,219,000 after purchasing an additional 1,929 shares during the period. 67.08% of the stock is currently owned by institutional investors.
Shares of NASDAQ:CAC opened at $42.72 on Wednesday. The stock has a market capitalization of $663.14 million, a PE ratio of 12.60 and a beta of 0.79. 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 Co. has a 1 year low of $33.49 and a 1 year high of $47.86.
Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, January 29th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. Camden National had a return on equity of 12.73% and a net margin of 28.00%. The company had revenue of $41.07 million for the quarter, compared to the consensus estimate of $40.30 million. On average, equities research analysts forecast that Camden National Co. will post 3.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Friday, April 12th. Camden National’s payout ratio is 35.40%.
A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded Camden National from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. BidaskClub downgraded Camden National from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Finally, ValuEngine downgraded Camden National from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd.
In other Camden National news, CEO Gregory A. Dufour sold 1,250 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $43.50, for a total transaction of $54,375.00. Following the completion of the sale, the chief executive officer now directly owns 88,675 shares of the company’s stock, valued at approximately $3,857,362.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Deborah A. Jordan acquired 867 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $32.73 per share, with a total value of $28,376.91. Following the completion of the acquisition, the chief financial officer now directly owns 55,500 shares in the company, valued at approximately $1,816,515. The disclosure for this purchase can be found here. Insiders purchased a total of 2,715 shares of company stock valued at $88,862 over the last ninety days. 2.04% of the stock is currently owned by corporate insiders.
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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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