Camden National Co., a financial services provider, has been the topic of conversations in recent quarters due to its noteworthy decline in stock holdings. On May 13, 2023, it was reported that LSV Asset Management had dwindled its stake in Camden National Co. by 2.5% during the fourth quarter of the previous year according to a recent filing with the Securities and Exchange Commission (SEC). The firm is now left with a total of 292,079 shares of Camden National’s stock after having sold off 7,600 shares during the quarter. At the close of trading for the corresponding period, LSV Asset Management held approximately 2.01% worth $12,177,000 of Camden National’s valuation.
Camden National Corporation is a continuation formation entity and bank holding company born out of Maine’s coast city in Camden in 1984. In its quest to satisfy banking and other financial service needs across various sectors such as personal and commercial clientele horizontals, among others ranging from deposit accounts to electronic banking services including mobile banking which grants effective transactions practically at clients’ fingertips.
NASDAQ:CAC opened on Friday at $29.64 displaying dynamics that were captured during a fifty-day calculation resulting in a simple moving average at $35.05 while its two hundred day simple moving average stood at $39.65 per share level capable enough to move current investor sentiment on either end of trader speculation accordingly.
Camden National Co.’s market capitalization value stands at $433.51 million complemented by a price-to-earnings ratio (P/E) reading of 7.58 with Beta currently pegged at 0.74 but with an axiomatic leverage advantage sharpened further by an attractive debt-to-equity ratio analyzed resting within orderly accounting thresholds valued at currently representing one-tenth leverage advantage comparing liabilities owed against book equity when measured across quantifiable time lengths.
Based on its current ratio of .78 Camden National’s ability to meet short-term obligations does not appear to be optimal, however a favorable average by comparison yet relatively low quick ratio of 0.78 as well represents an aggregate picture denoting limited capital investments required to enable operations to remain fluid in the day-to-day activities of now onboarding more agile customers.
Camden National Co.’s stock price ranged from a year-long low at $28.23 and has shown a high point of $49.10 when tracked for performance for the last fiscal year revealing that its portfolio managers were hard-pressed to augment shareholder wealth which might have motivated decision-making processes for LSV Asset Management over sideways consolidation tactics as further mentioned in the SEC filings by both parties when considering long-term gains prospects within CAC’s end-market sector niche.
Institutional Investors Modify Ownership Stakes in Camden National as Fluctuations Raise Questions
May 13, 2023 – In recent months, Camden National has seen significant changes in institutional investors’ holdings of the company. Front Street Capital Management Inc., Ipswich Investment Management Co. Inc., Quadrant Capital Group LLC, Signaturefd LLC, and Legato Capital Management LLC have all made major moves to modify their positions with the financial services provider.
Front Street Capital Management acquired a new position in shares of Camden National during the third quarter of 2022 worth approximately $511,000. Ipswich Investment Management followed suit and lifted its position in Camden National by 4.7% during the fourth quarter of 2022 to acquire an additional 3,595 shares amounting to $3,324,000.
Quadrant Capital Group LLC made a considerable leap and lifted its position in Camden National by 13,275.0% during the third quarter of last year after acquiring an additional 1,062 shares worth $46,000. Furthermore, Signaturefd LLC increased its position in Camden National by a whopping 155.3%, now owning 605 shares worth $25,000 after acquiring an additional 368 shares during the fourth quarter of last year.
Lastly, Legato Capital Management acquired a new stake in Camden National during the fourth quarter of last year worth approximately $1,905,000. This leaves institutional investors and hedge funds currently owning about 67.00% of Camden National’s stock.
As these large investors modify their holdings constantly within these six months alone and with different stakes at hand – ranging from substantial amounts down to fewer numbers – it raises questions on what could be causing fluctuation within shareholders’ portfolios as they rush towards selling stocks from critical companies like Camden National?
Separately from these ongoing fluctuations amongst institutional shareholders regarding ownership stakes is that this week StockNews.com downgraded shares of Camden National from “hold” rating to “sell” rating in a research report last Friday, March 10th.
Moreover, Camden National recently declared a quarterly dividend, which was paid on Friday, April 28th. Stockholders with record as of Friday, April 14th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.67%. Camden National’s dividend payout ratio (DPR) is presently 42.97%, providing investors with a compelling decision to hold onto the company’s shares regardless of the recent downgrade by StockNews.com.
In conclusion, institutional investors still own quite substantial amounts of stock in Camden National even though the fluctuation has been ongoing for months now. Investors need to keep an eye out for any imminent changes and make their investment decisions accordingly.