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

Camden National Co. (NASDAQ:CAC) was the recipient of a significant growth in short interest in 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. Based on an average trading volume of 57,200 shares, the short-interest ratio is currently 10.9 days. Approximately 4.4% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of research firms have recently commented on CAC. StockNews.com started coverage on Camden National in a report on Wednesday, October 23rd. They issued a “hold” rating for the company. Keefe, Bruyette & Woods lifted their price objective on Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th. Finally, Stephens lifted their price objective on Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd.

Camden National Price Performance

NASDAQ:CAC traded up $0.82 during trading hours on Wednesday, hitting $43.02. 14,081 shares of the company’s stock traded hands, compared to its average volume of 49,787. The firm has a market cap of $628.39 million, a P/E ratio of 14.28 and a beta of 0.72. Camden National has a 52 week low of $28.00 and a 52 week high of $43.75. The business’s fifty day simple moving average is $39.90 and its two-hundred day simple moving average is $35.89. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CAC) last released 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. Camden National had a return on equity of 10.36% and a net margin of 16.01%. The business had revenue of $72.81 million for the quarter, compared to the consensus estimate of $41.07 million. During the same quarter last year, the business posted $0.85 earnings per share. On average, research analysts anticipate that Camden National will post 3.34 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The company 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 dividend of $0.42 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.91%. Camden National’s payout ratio is 55.81%.

Institutional Investors Weigh In On Camden National

A number of large investors have recently added to or reduced their stakes in CAC. Signaturefd LLC lifted its stake in shares of Camden National by 2,990.3% in the 1st quarter. Signaturefd LLC now owns 38,567 shares of the financial services provider’s stock valued at $1,293,000 after acquiring an additional 37,319 shares during the last quarter. Kimelman & Baird LLC bought a new position in Camden National during the 2nd quarter valued at approximately $4,943,000. ProShare Advisors LLC raised its position in Camden National by 13.2% during the 1st quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock valued at $8,027,000 after purchasing an additional 28,007 shares during the last quarter. Hantz Financial Services Inc. bought a new position in Camden National during the 2nd quarter valued at approximately $757,000. Finally, BNP Paribas Financial Markets grew its holdings 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 acquiring an additional 3,330 shares during the period. Hedge funds and other institutional investors own 77.41% of the company’s stock.

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.