Camden National (NASDAQ:CAC) Sees Large Volume Increase

Shares of Camden National Co. (NASDAQ:CAC) saw strong trading volume on Friday . 30,505 shares traded hands during mid-day trading, a decline of 37% from the previous session’s volume of 48,378 shares.The stock last traded at $40.26 and had previously closed at $41.05.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. 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 research note on Wednesday, September 11th. StockNews.com raised Camden National from a “sell” rating to a “hold” rating in a research note on Saturday, June 1st. Finally, Stephens raised their target price 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

The company has a 50 day moving average of $38.41 and a two-hundred day moving average of $34.12. The firm has a market cap of $585.30 million, a P/E ratio of 13.64 and a beta of 0.72. 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 announced its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $41.07 million. During the same period in the prior year, the business posted $0.85 earnings per share. Sell-side analysts expect that Camden National Co. will post 3.34 EPS for the current year.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Monday, July 15th. Camden National’s dividend payout ratio (DPR) is presently 55.81%.

Institutional Investors Weigh In On Camden National

A number of large investors have recently bought and sold shares of the business. Signaturefd LLC boosted its holdings in Camden National by 2,990.3% during the first 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 period. ProShare Advisors LLC boosted its holdings in Camden National by 13.2% during the first quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock valued at $8,027,000 after acquiring an additional 28,007 shares during the period. Hantz Financial Services Inc. bought a new stake in Camden National during the second quarter valued at about $757,000. BNP Paribas Financial Markets boosted its holdings in Camden National by 89.3% during the first 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 during the period. Finally, Franklin Resources Inc. boosted its holdings in Camden National by 12.3% during the fourth quarter. Franklin Resources Inc. now owns 1,236,840 shares of the financial services provider’s stock valued at $46,542,000 after acquiring an additional 135,944 shares during the period. 77.41% of the stock is currently owned by 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.