Wilmington Savings Fund Society FSB Reduces Position in Camden National Corporation $CAC

Wilmington Savings Fund Society FSB lessened its position in shares of Camden National Corporation (NASDAQ:CAC) by 4.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 110,611 shares of the financial services provider’s stock after selling 5,221 shares during the quarter. Wilmington Savings Fund Society FSB owned about 0.66% of Camden National worth $4,489,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Inspire Investing LLC grew its stake in Camden National by 13.5% during the 2nd quarter. Inspire Investing LLC now owns 9,632 shares of the financial services provider’s stock worth $391,000 after buying an additional 1,144 shares during the last quarter. KLP Kapitalforvaltning AS grew its stake in Camden National by 77.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 5,500 shares of the financial services provider’s stock worth $223,000 after buying an additional 2,400 shares during the last quarter. Trust Co. of Vermont grew its stake in Camden National by 330.2% during the 2nd quarter. Trust Co. of Vermont now owns 2,151 shares of the financial services provider’s stock worth $87,000 after buying an additional 1,651 shares during the last quarter. Delphi Management Inc. MA grew its stake in Camden National by 158.5% during the 2nd quarter. Delphi Management Inc. MA now owns 31,788 shares of the financial services provider’s stock worth $1,290,000 after buying an additional 19,493 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Camden National during the 1st quarter worth approximately $1,019,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Camden National Stock Up 3.7%

Camden National stock opened at $38.38 on Wednesday. Camden National Corporation has a twelve month low of $34.53 and a twelve month high of $50.07. The stock has a 50 day moving average of $39.34 and a two-hundred day moving average of $39.57. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $649.39 million, a price-to-earnings ratio of 12.15 and a beta of 0.64.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.23). The company had revenue of $69.82 million for the quarter, compared to analyst estimates of $61.04 million. Camden National had a return on equity of 10.19% and a net margin of 14.77%. As a group, research analysts expect that Camden National Corporation will post 4.25 earnings per share for the current year.

Camden National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, October 15th. Camden National’s dividend payout ratio (DPR) is currently 53.16%.

Analyst Ratings Changes

A number of research firms recently issued reports on CAC. Weiss Ratings restated a “hold (c)” rating on shares of Camden National in a research note on Tuesday. Zacks Research raised Camden National to a “hold” rating in a research report on Tuesday, August 12th. Finally, Stephens raised Camden National from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $49.00 to $44.00 in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $48.00.

Camden National Company 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.