Camden National Co. (NASDAQ:CAC) Short Interest Update

Camden National Co. (NASDAQ:CAC) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 621,500 shares, a growth of 7.2% from the September 30th total of 579,900 shares. Approximately 4.4% of the company’s shares are sold short. Based on an average daily trading volume, of 57,200 shares, the short-interest ratio is currently 10.9 days.

Analyst Ratings Changes

Several equities research analysts recently commented on CAC shares. Keefe, Bruyette & Woods upped their target price on Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a research report on Wednesday, September 11th. Stephens upped their target price on Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Finally, StockNews.com started coverage on Camden National in a research report on Wednesday, October 23rd. They set a “hold” rating on the stock.

Camden National Stock Up 1.9 %

Shares of Camden National stock traded up $0.82 on Wednesday, hitting $43.02. The company had a trading volume of 14,081 shares, compared to its average volume of 49,787. The stock has a market capitalization of $628.39 million, a price-to-earnings ratio of 14.28 and a beta of 0.72. Camden National has a 1 year low of $28.00 and a 1 year high of $43.75. The stock has a 50 day moving average of $39.90 and a 200-day moving average of $35.89. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.82.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data 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 firm had revenue of $72.81 million during 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 prior year, the business posted $0.85 earnings per share. As a group, sell-side analysts forecast that Camden National will post 3.34 earnings per share for the current year.

Camden National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Tuesday, October 15th. Camden National’s payout ratio is 55.81%.

Institutional Trading of Camden National

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in Camden National by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock worth $27,605,000 after buying an additional 26,450 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Camden National by 1.3% in the second quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock worth $9,313,000 after acquiring an additional 3,600 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Camden National by 13.2% in the first quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock worth $8,027,000 after acquiring an additional 28,007 shares during the period. LSV Asset Management boosted its holdings in shares of Camden National by 8.4% in the second quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock worth $7,874,000 after acquiring an additional 18,517 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Camden National by 11.1% in the second quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider’s stock worth $6,029,000 after acquiring an additional 18,294 shares during the period. 77.41% of the stock is owned by hedge funds and other institutional investors.

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.