Dynamic Technology Lab Private Ltd Invests $458,000 in Camden National Corporation $CAC

Key Points

• Dynamic Technology Lab Private Ltd invested approximately $458,000 in Camden National Corporation, acquiring 11,329 shares in the first quarter.
• Camden National's stock has recently increased by 1.4%, with a current market cap of $688.31 million, and it recorded earnings of $0.89 per share, missing estimates.
• The company announced a quarterly dividend of $0.42 per share, marking an annualized yield of 4.1% and a payout ratio of 53.16%.

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Camden National Corporation (NASDAQ:CAC - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 11,329 shares of the financial services provider's stock, valued at approximately $458,000. Dynamic Technology Lab Private Ltd owned about 0.07% of Camden National at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Camden National by 20.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,925 shares of the financial services provider's stock valued at $402,000 after purchasing an additional 1,661 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Camden National by 4.2% during the 1st quarter. Bridgeway Capital Management LLC now owns 82,143 shares of the financial services provider's stock valued at $3,324,000 after purchasing an additional 3,318 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Camden National by 151.1% during the 1st quarter. AQR Capital Management LLC now owns 24,455 shares of the financial services provider's stock valued at $990,000 after purchasing an additional 14,715 shares during the last quarter. Corebridge Financial Inc. lifted its holdings in shares of Camden National by 13.6% during the 1st quarter. Corebridge Financial Inc. now owns 8,204 shares of the financial services provider's stock valued at $332,000 after purchasing an additional 981 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Camden National by 10.9% during the 1st quarter. MetLife Investment Management LLC now owns 9,764 shares of the financial services provider's stock valued at $395,000 after purchasing an additional 959 shares during the last quarter. Hedge funds and other institutional investors own 77.41% of the company's stock.

Camden National Price Performance

Shares of CAC stock traded up $0.61 during mid-day trading on Wednesday, hitting $40.41. 6,612 shares of the stock were exchanged, compared to its average volume of 74,746. The company has a market cap of $683.65 million, a PE ratio of 12.79 and a beta of 0.67. Camden National Corporation has a 52-week low of $34.53 and a 52-week high of $50.07. The firm has a fifty day moving average of $40.09 and a 200 day moving average of $39.95. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CAC - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $61.04 million. Camden National had a net margin of 14.77% and a return on equity of 10.19%. Research analysts anticipate that Camden National Corporation will post 4.25 earnings per share for the current year.

Camden National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, July 15th. Camden National's dividend payout ratio (DPR) is 53.16%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CAC shares. Stephens raised Camden National from an "equal weight" rating to an "overweight" rating and cut their target price for the company from $49.00 to $44.00 in a research report on Wednesday, August 6th. Zacks Research raised Camden National to a "hold" rating in a research report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.