Schwab Charles Investment Management Inc. boosted its position in Camden National Co. (NASDAQ:CAC) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,644 shares of the financial services provider’s stock after acquiring an additional 3,151 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Camden National were worth $3,738,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its holdings in Camden National by 479.2% in the second quarter. BNP Paribas Arbitrage SA now owns 2,340 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 1,936 shares in the last quarter. Atlantic Trust LLC acquired a new stake in Camden National in the second quarter valued at approximately $136,000. Legal & General Group Plc raised its holdings in Camden National by 4.2% in the second quarter. Legal & General Group Plc now owns 3,817 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 153 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Camden National in the third quarter valued at approximately $208,000. Finally, Citigroup Inc. raised its holdings in Camden National by 696.7% in the second quarter. Citigroup Inc. now owns 4,772 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 4,173 shares in the last quarter. 63.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Camden National Co. (NASDAQ:CAC) opened at $43.62 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.17. Camden National Co. has a 1-year low of $37.10 and a 1-year high of $47.41. The firm has a market cap of $676.81, a P/E ratio of 16.04 and a beta of 0.79.
In other Camden National news, EVP Edmund M. Hayden sold 2,340 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $45.56, for a total transaction of $106,610.40. Following the sale, the executive vice president now owns 7,958 shares of the company’s stock, valued at $362,566.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joanne T. Campbell sold 2,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $44.05, for a total transaction of $100,037.55. Following the sale, the executive vice president now directly owns 17,916 shares in the company, valued at approximately $789,199.80. The disclosure for this sale can be found here. 2.34% of the stock is currently owned by company insiders.
CAC has been the topic of a number of research analyst reports. BidaskClub raised shares of Camden National from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $48.00 price objective on shares of Camden National in a report on Friday, December 22nd.
ILLEGAL ACTIVITY NOTICE: This piece of content was published by Markets Daily and is the sole property of of Markets Daily. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The correct version of this piece of content can be read at https://www.themarketsdaily.com/2018/01/14/schwab-charles-investment-management-inc-has-3-74-million-position-in-camden-national-co-cac.html.
About Camden National
Camden National Corporation is a bank holding company. The Company is a diversified financial services provider. The primary business of the Company and its subsidiary, Camden National Bank (the Bank), is to attract deposits from, and to extend loans to, consumer, institutional, municipal, non-profit and commercial customers.
Want to see what other hedge funds are holding CAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Camden National Co. (NASDAQ:CAC).
Receive News & Ratings for Camden National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Camden National and related companies with MarketBeat.com's FREE daily email newsletter.