Camden National Co. (NASDAQ:CAC) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its position in Camden National Co. (NASDAQ:CAC - Free Report) by 34.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,991 shares of the financial services provider's stock after selling 9,403 shares during the quarter. Millennium Management LLC owned approximately 0.12% of Camden National worth $769,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Aquatic Capital Management LLC purchased a new position in shares of Camden National in the 4th quarter valued at approximately $44,000. Federated Hermes Inc. acquired a new stake in shares of Camden National during the fourth quarter worth $46,000. KLP Kapitalforvaltning AS purchased a new position in Camden National in the 4th quarter valued at $103,000. Quantbot Technologies LP purchased a new position in Camden National in the 4th quarter valued at $106,000. Finally, Tower Research Capital LLC TRC increased its stake in Camden National by 22.0% in the 4th 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 owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Camden National Price Performance

CAC traded up $0.49 on Tuesday, hitting $40.26. 36,991 shares of the company were exchanged, compared to its average volume of 69,343. Camden National Co. has a fifty-two week low of $30.78 and a fifty-two week high of $50.07. 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 capitalization of $679.83 million, a P/E ratio of 11.12 and a beta of 0.63. The business's fifty day moving average is $38.95 and its 200 day moving average is $42.04.

Camden National (NASDAQ:CAC - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $60.05 million during the quarter, compared to analysts' expectations of $57.63 million. Camden National had a net margin of 18.02% and a return on equity of 10.38%. As a group, sell-side analysts anticipate that Camden National Co. will post 4.25 EPS for the current year.

Camden National Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a $0.42 dividend. 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 4.17%. Camden National's dividend payout ratio (DPR) is 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.