GAMMA Investing LLC Buys 8,151 Shares of Camden National Corporation (NASDAQ:CAC)

GAMMA Investing LLC increased its stake in Camden National Corporation (NASDAQ:CAC) by 12,735.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 8,215 shares of the financial services provider’s stock after purchasing an additional 8,151 shares during the quarter. GAMMA Investing LLC’s holdings in Camden National were worth $332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Davis R M Inc. bought a new stake in Camden National during the fourth quarter valued at about $4,059,000. Franklin Resources Inc. lifted its position in shares of Camden National by 7.4% during the 4th quarter. Franklin Resources Inc. now owns 1,311,526 shares of the financial services provider’s stock worth $56,055,000 after purchasing an additional 90,485 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Camden National during the 4th quarter valued at approximately $1,727,000. JPMorgan Chase & Co. boosted its stake in Camden National by 12.6% during the 4th quarter. JPMorgan Chase & Co. now owns 319,794 shares of the financial services provider’s stock valued at $13,668,000 after purchasing an additional 35,883 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Camden National by 38.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 88,493 shares of the financial services provider’s stock valued at $3,782,000 after buying an additional 24,676 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors and hedge funds.

Camden National Stock Up 0.4%

NASDAQ CAC opened at $38.57 on Friday. Camden National Corporation has a twelve month low of $31.02 and a twelve month high of $50.07. The stock has a market cap of $651.45 million, a PE ratio of 12.28 and a beta of 0.63. The firm has a 50-day simple moving average of $39.31 and a 200 day simple moving average of $41.59. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.95 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 firm had revenue of $60.05 million during the quarter, compared to analyst estimates of $57.63 million. On average, research analysts forecast that Camden National Corporation 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. Investors of record on Tuesday, April 15th were paid a $0.42 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.36%. Camden National’s payout ratio is 53.50%.

Analyst Upgrades and Downgrades

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

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.