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

Camden National Co. (NASDAQ:CAC) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 460,100 shares, a growth of 31.5% from the August 31st total of 349,900 shares. Currently, 3.3% of the shares of the company are short sold. Based on an average daily volume of 65,700 shares, the short-interest ratio is currently 7.0 days.

Camden National Stock Performance

NASDAQ:CAC traded up $0.02 during mid-day trading on Friday, reaching $40.08. The stock had a trading volume of 61,037 shares, compared to its average volume of 49,605. Camden National has a twelve month low of $26.52 and a twelve month high of $43.44. The business has a 50 day simple moving average of $38.69 and a 200 day simple moving average of $34.44. The firm has a market capitalization of $585.45 million, a price-to-earnings ratio of 13.32 and a beta of 0.72. 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 posted 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. The firm 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 earned $0.85 earnings per share. On average, analysts expect that Camden National will post 3.33 earnings per share for the current fiscal year.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.19%. 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

Several equities analysts recently issued reports on the company. StockNews.com initiated coverage on Camden National in a research report on Sunday. They issued a “hold” rating on the stock. Stephens boosted their target price on Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods increased their price target on Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a report on Wednesday, September 11th.

Hedge Funds Weigh In On Camden National

Several hedge funds and other institutional investors have recently bought and sold shares of CAC. Northwestern Mutual Wealth Management Co. acquired a new stake in Camden National in the second quarter valued at $73,000. BNP Paribas Financial Markets increased its holdings in 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 valued at $237,000 after acquiring an additional 3,330 shares in the last quarter. Trexquant Investment LP acquired a new position in Camden National during the fourth quarter worth about $294,000. Inspire Investing LLC purchased a new stake in shares of Camden National in the second quarter valued at about $349,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Camden National by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 4,907 shares during the last quarter. 77.41% of the stock is owned by institutional investors and hedge funds.

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.