Millennium Management LLC Trims Stock Holdings in Camden National Co. (NASDAQ:CAC)

Millennium Management LLC reduced its holdings in shares of Camden National Co. (NASDAQ:CAC - Free Report) by 34.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 17,991 shares of the financial services provider's stock after selling 9,403 shares during the period. Millennium Management LLC owned about 0.12% of Camden National worth $769,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Aquatic Capital Management LLC purchased a new stake in Camden National during the fourth quarter valued at approximately $44,000. Federated Hermes Inc. purchased a new stake in shares of Camden National during the 4th quarter valued at $46,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Camden National in the 4th quarter worth $103,000. Quantbot Technologies LP purchased a new position in Camden National during the 4th quarter worth $106,000. Finally, Tower Research Capital LLC TRC increased its holdings 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 acquiring an additional 523 shares in the last quarter. 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 a number of research reports. Keefe, Bruyette & Woods lowered their price target on Camden National from $48.00 to $47.00 and set a "market perform" rating for the company in a research report on Wednesday, May 7th. Wall Street Zen initiated coverage on shares of Camden National in a report on Monday, May 19th. They issued a "hold" rating for the company.

Camden National Trading Up 2.4%

Shares of Camden National stock traded up $0.92 on Friday, reaching $39.53. The company had a trading volume of 58,633 shares, compared to its average volume of 69,251. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $667.50 million, a PE ratio of 10.92 and a beta of 0.63. The firm's 50 day moving average price is $38.96 and its two-hundred day moving average price is $42.16. Camden National Co. has a 52-week low of $30.78 and a 52-week high of $50.07.

Camden National (NASDAQ:CAC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.99 by ($0.04). Camden National had a return on equity of 10.38% and a net margin of 18.02%. The business had revenue of $60.05 million for the quarter, compared to analysts' expectations of $57.63 million. Sell-side analysts predict that Camden National Co. will post 4.25 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $1.68 dividend on an annualized basis and a yield of 4.25%. Camden National's dividend payout ratio (DPR) is presently 53.50%.

Camden National 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.