AQR Capital Management LLC Has $1.43 Million Stock Position in Camden National Co. (NASDAQ:CAC)

AQR Capital Management LLC decreased its stake in Camden National Co. (NASDAQ:CAC) by 1.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,176 shares of the financial services provider’s stock after selling 446 shares during the quarter. AQR Capital Management LLC owned 0.30% of Camden National worth $1,425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CAC. Rhumbline Advisers raised its stake in shares of Camden National by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock worth $762,000 after purchasing an additional 319 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Camden National by 7.9% during the 1st quarter. Empowered Funds LLC now owns 33,496 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 2,450 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Camden National by 89.3% during the 1st quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 3,330 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Camden National by 1.3% during the 2nd quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock worth $9,313,000 after purchasing an additional 3,600 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Camden National by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 90,944 shares of the financial services provider’s stock worth $3,001,000 after purchasing an additional 3,937 shares in the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

Camden National Stock Down 0.5 %

CAC opened at $40.16 on Friday. The business has a 50 day moving average price of $38.67 and a 200 day moving average price of $34.92. Camden National Co. has a twelve month low of $26.52 and a twelve month high of $43.44. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.82. The firm has a market cap of $586.62 million, a P/E ratio of 13.34 and a beta of 0.72.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.71 by $0.10. The company had revenue of $72.81 million for the quarter, compared to the consensus estimate of $41.07 million. Camden National had a return on equity of 10.36% and a net margin of 16.01%. During the same period in the previous year, the business posted $0.85 EPS. Research analysts forecast that Camden National Co. will post 3.33 EPS for the current year.

Camden National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Tuesday, October 15th. Camden National’s dividend payout ratio is currently 55.81%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CAC. Stephens raised their price target on Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. StockNews.com started coverage on Camden National in a report on Monday. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods boosted their target price on Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a report on Wednesday, September 11th.

About Camden National

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.