Assenagon Asset Management S.A. Trims Stock Position in Camden National Co. (NASDAQ:CAC)

Assenagon Asset Management S.A. cut its holdings in shares of Camden National Co. (NASDAQ:CAC) by 61.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,337 shares of the financial services provider’s stock after selling 18,414 shares during the period. Assenagon Asset Management S.A. owned about 0.08% of Camden National worth $374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CAC. Signaturefd LLC lifted its holdings in Camden National by 147.1% in the fourth quarter. Signaturefd LLC now owns 1,248 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 743 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Camden National by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 775,647 shares of the financial services provider’s stock valued at $29,189,000 after purchasing an additional 8,046 shares in the last quarter. Lmcg Investments LLC acquired a new position in shares of Camden National in the 4th quarter valued at $288,000. Quadrant Capital Group LLC boosted its holdings in Camden National by 364.7% during the fourth quarter. Quadrant Capital Group LLC now owns 4,545 shares of the financial services provider’s stock worth $171,000 after buying an additional 3,567 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in Camden National during the fourth quarter worth $294,000. 77.41% of the stock is owned by hedge funds and other institutional investors.

Camden National Stock Performance

CAC opened at $40.24 on Friday. The firm’s fifty day simple moving average is $35.85 and its two-hundred day simple moving average is $33.22. Camden National Co. has a 52-week low of $26.52 and a 52-week high of $43.44. The company has a market cap of $587.79 million, a price-to-earnings ratio of 13.37 and a beta of 0.74. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.10. Camden National had a net margin of 16.01% and a return on equity of 10.47%. The firm had revenue of $72.81 million for the quarter, compared to analyst estimates of $41.07 million. During the same period last year, the company posted $0.85 EPS. Equities analysts anticipate that Camden National Co. will post 3.26 earnings per share for the current fiscal year.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Monday, July 15th. Camden National’s dividend payout ratio is presently 55.81%.

Analyst Ratings Changes

CAC has been the subject of a number of analyst reports. StockNews.com upgraded shares of Camden National from a “sell” rating to a “hold” rating in a research report on Saturday, June 1st. Keefe, Bruyette & Woods upped their price target on Camden National from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Finally, Stephens raised their price objective on Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd.

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.