Apollon Wealth Management LLC Decreases Stock Holdings in Camden National Co. (NASDAQ:CAC)

Apollon Wealth Management LLC lowered its stake in shares of Camden National Co. (NASDAQ:CAC) by 1.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 29,835 shares of the financial services provider’s stock after selling 475 shares during the period. Apollon Wealth Management LLC’s holdings in Camden National were worth $1,123,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CAC. PNC Financial Services Group Inc. grew its position in shares of Camden National by 201.7% in the third quarter. PNC Financial Services Group Inc. now owns 1,243 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 831 shares during the last quarter. Signaturefd LLC grew its position in shares of Camden National by 147.1% in the fourth quarter. Signaturefd LLC now owns 1,248 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 743 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Camden National in the third quarter valued at approximately $210,000. First National Corp MA ADV acquired a new stake in shares of Camden National in the fourth quarter valued at approximately $265,000. Finally, Bar Harbor Wealth Management acquired a new stake in shares of Camden National in the fourth quarter valued at approximately $352,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Camden National from a “hold” rating to a “sell” rating in a research report on Friday, April 19th.

Camden National Stock Up 2.1 %

Shares of NASDAQ CAC opened at $32.80 on Friday. Camden National Co. has a 1 year low of $26.52 and a 1 year high of $39.70. The firm’s 50 day moving average price is $31.41 and its 200 day moving average price is $33.41. The firm has a market cap of $479.83 million, a P/E ratio of 10.90 and a beta of 0.74. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 0.81.

Camden National Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.68 dividend on an annualized basis and a yield of 5.12%. Camden National’s dividend payout ratio (DPR) is currently 55.81%.

Camden National Profile

Camden National Corporation operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers in Maine, New Hampshire, and Massachusetts. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system.