Royce & Associates LP cut its holdings in shares of Camden National Co. (NASDAQ:CAC) by 2.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 523,650 shares of the financial services provider’s stock after selling 13,964 shares during the period. Royce & Associates LP’s holdings in Camden National were worth $23,936,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CAC. SG Americas Securities LLC bought a new stake in Camden National in the 2nd quarter worth about $116,000. Millennium Management LLC bought a new stake in Camden National in the 1st quarter worth about $205,000. People s United Financial Inc. bought a new stake in Camden National in the 2nd quarter worth about $210,000. GW&K Investment Management LLC bought a new stake in Camden National in the 1st quarter worth about $271,000. Finally, MetLife Investment Advisors LLC bought a new stake in Camden National in the 4th quarter worth about $330,000. 66.35% of the stock is owned by institutional investors.

CAC opened at $45.98 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $726.01 million, a price-to-earnings ratio of 16.84 and a beta of 0.65. Camden National Co. has a twelve month low of $37.10 and a twelve month high of $47.86.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, July 31st. The financial services provider reported $0.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.04). The company had revenue of $38.98 million during the quarter, compared to analysts’ expectations of $39.40 million. Camden National had a net margin of 18.39% and a return on equity of 11.64%. research analysts anticipate that Camden National Co. will post 3.3 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 31st. Shareholders of record on Friday, July 13th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.61%. This is a boost from Camden National’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, July 12th. Camden National’s payout ratio is presently 43.96%.

A number of equities research analysts have issued reports on the stock. BidaskClub raised shares of Camden National from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Zacks Investment Research raised shares of Camden National from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Monday, August 6th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $51.50 price objective on shares of Camden National in a research report on Friday, August 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $49.50.

About Camden National

Camden National Corporation operates as the holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit, and commercial customers. It offers various deposit products, including demand, checking, saving, and money market accounts; and time deposits.

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

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