Renaissance Technologies LLC Raises Holdings in Camden National Co. (NASDAQ:CAC)

Renaissance Technologies LLC lifted its position in shares of Camden National Co. (NASDAQ:CAC - Free Report) by 2.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 289,800 shares of the financial services provider's stock after buying an additional 7,500 shares during the period. Renaissance Technologies LLC owned approximately 1.99% of Camden National worth $12,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CAC. Federated Hermes Inc. acquired a new position in shares of Camden National in the 4th quarter worth approximately $46,000. Nisa Investment Advisors LLC lifted its position in shares of Camden National by 18,500.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider's stock worth $79,000 after purchasing an additional 1,850 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Camden National during the 4th quarter worth $103,000. Quantbot Technologies LP purchased a new position in shares of Camden National in the 4th quarter valued at about $106,000. Finally, AlphaQuest LLC increased its stake in shares of Camden National by 2,615.3% during the fourth quarter. AlphaQuest LLC now owns 4,263 shares of the financial services provider's stock worth $182,000 after buying an additional 4,106 shares during the period. Hedge funds and other institutional investors own 77.41% of the company's stock.

Analysts Set New Price Targets

CAC has been the subject of several analyst reports. Raymond James reiterated an "outperform" rating and set a $53.00 price target (up previously from $50.00) on shares of Camden National in a report on Wednesday, January 29th. StockNews.com started coverage on shares of Camden National in a research note on Thursday. They issued a "hold" rating on the stock. Finally, Keefe, Bruyette & Woods raised their price target on Camden National from $48.00 to $50.00 and gave the stock a "market perform" rating in a report on Wednesday, January 29th.

Camden National Stock Performance

Shares of Camden National stock traded down $0.65 on Monday, reaching $37.09. 8,584 shares of the stock were exchanged, compared to its average volume of 65,768. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average price of $40.87 and a two-hundred day moving average price of $43.05. Camden National Co. has a 1-year low of $30.04 and a 1-year high of $50.07. The firm has a market capitalization of $626.35 million, a PE ratio of 10.27 and a beta of 0.61.

Camden National (NASDAQ:CAC - Get Free Report) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same period in the previous year, the firm earned $0.85 earnings per share. As a group, research analysts anticipate that Camden National Co. will post 4.25 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.68 annualized dividend and a dividend yield of 4.53%. Camden National's dividend payout ratio is currently 46.41%.

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.