Short Interest in Camden National Co. (NASDAQ:CAC) Grows By 9.3%

Camden National Co. (NASDAQ:CAC) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 458,400 shares, a growth of 9.3% from the May 31st total of 419,400 shares. Based on an average daily volume of 37,600 shares, the days-to-cover ratio is currently 12.2 days. Approximately 3.3% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Camden National from a “sell” rating to a “hold” rating in a report on Saturday, June 1st.

Camden National Stock Down 1.5 %

Shares of Camden National stock opened at $32.64 on Thursday. The stock has a market capitalization of $476.87 million, a price-to-earnings ratio of 10.84 and a beta of 0.74. Camden National has a twelve month low of $26.52 and a twelve month high of $39.70. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The business’s 50 day simple moving average is $32.08 and its 200-day simple moving average is $33.14.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.14. Camden National had a return on equity of 10.66% and a net margin of 16.56%. The firm had revenue of $41.60 million for the quarter, compared to analyst estimates of $41.72 million. Equities research analysts forecast that Camden National will post 3.13 earnings per share for the current year.

Camden National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be given a $0.42 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.68 annualized dividend and a yield of 5.15%. Camden National’s dividend payout ratio is presently 55.81%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CAC. Signaturefd LLC boosted its position in shares of Camden National by 147.1% during the fourth quarter. Signaturefd LLC now owns 1,248 shares of the financial services provider’s stock worth $47,000 after buying an additional 743 shares during the period. PNC Financial Services Group Inc. boosted its position in Camden National by 201.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,243 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 831 shares during the period. Hanson & Doremus Investment Management bought a new position in shares of Camden National in the first quarter worth $35,000. Assenagon Asset Management S.A. increased its holdings in shares of Camden National by 10.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 15,249 shares of the financial services provider’s stock valued at $574,000 after purchasing an additional 1,456 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of Camden National by 31.1% during the fourth quarter. SG Americas Securities LLC now owns 9,751 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 2,311 shares in the last quarter. Institutional investors own 77.41% of the company’s stock.

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.