7,843 Shares in Camden National Corporation (NASDAQ:CAC) Acquired by Ledyard National Bank

Ledyard National Bank bought a new position in Camden National Corporation (NASDAQ:CAC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,843 shares of the financial services provider's stock, valued at approximately $317,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aquatic Capital Management LLC bought a new position in Camden National in the fourth quarter worth approximately $44,000. Federated Hermes Inc. purchased a new stake in shares of Camden National in the 4th quarter worth $46,000. KLP Kapitalforvaltning AS bought a new position in shares of Camden National during the 4th quarter worth $103,000. Quantbot Technologies LP bought a new position in shares of Camden National during the 4th quarter worth $106,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Camden National by 22.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,901 shares of the financial services provider's stock valued at $124,000 after buying an additional 523 shares during the period. 77.41% of the stock is currently owned by institutional investors.

Camden National Stock Up 2.2%

Shares of CAC traded up $0.86 during trading hours on Thursday, hitting $40.51. The company had a trading volume of 45,122 shares, compared to its average volume of 69,853. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $684.21 million, a PE ratio of 12.90 and a beta of 0.63. Camden National Corporation has a one year low of $31.02 and a one year high of $50.07. The company's fifty day moving average price is $39.47 and its two-hundred day moving average price is $41.45.

Camden National (NASDAQ:CAC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.04). Camden National had a net margin of 15.03% and a return on equity of 10.28%. The company had revenue of $60.05 million during the quarter, compared to analysts' expectations of $57.63 million. As a group, equities analysts forecast that Camden National Corporation will post 4.25 earnings per share for the current fiscal year.

Camden National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $1.68 annualized dividend and a yield of 4.15%. Camden National's dividend payout ratio (DPR) is 53.50%.

Wall Street Analyst Weigh In

CAC has been the subject of a number of research reports. Wall Street Zen started coverage on shares of Camden National in a research note on Monday, May 19th. They issued a "hold" rating for the company. Keefe, Bruyette & Woods reduced their price target on shares of Camden National from $48.00 to $47.00 and set a "market perform" rating for the company in a report on Wednesday, May 7th.

About Camden National

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.