Camden National Co. (NASDAQ:CAC) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP cut its position in Camden National Co. (NASDAQ:CAC - Free Report) by 18.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,253 shares of the financial services provider's stock after selling 7,546 shares during the quarter. Two Sigma Investments LP owned 0.23% of Camden National worth $1,421,000 as of its most recent filing with the Securities and Exchange Commission.

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

Camden National Stock Up 2.4%

NASDAQ:CAC traded up $0.92 during mid-day trading on Friday, hitting $39.53. The company had a trading volume of 58,633 shares, compared to its average volume of 69,251. The business has a fifty day simple moving average of $38.96 and a 200-day simple moving average of $42.16. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National Co. has a 1 year low of $30.78 and a 1 year high of $50.07. The firm has a market capitalization of $667.50 million, a price-to-earnings ratio of 10.92 and a beta of 0.63.

Camden National (NASDAQ:CAC - Get Free Report) last announced its 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. Equities analysts forecast that Camden National Co. will post 4.25 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.25%. The ex-dividend date was Tuesday, April 15th. Camden National's dividend payout ratio is currently 53.50%.

Analyst Ratings Changes

CAC has been the topic 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 on the stock in a report on Wednesday, May 7th. Wall Street Zen initiated coverage on Camden National in a research report on Monday, May 19th. They issued a "hold" rating on the stock.

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.