Camden National Co. (NASDAQ:CAC) Sees Significant Increase in Short Interest

Camden National Co. (NASDAQ:CAC) saw a significant increase in short interest in September. As of September 15th, there was short interest totalling 460,100 shares, an increase of 31.5% from the August 31st total of 349,900 shares. Approximately 3.3% of the shares of the stock are short sold. Based on an average daily volume of 65,700 shares, the days-to-cover ratio is presently 7.0 days.

Institutional Investors Weigh In On Camden National

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in Camden National by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 775,647 shares of the financial services provider’s stock valued at $29,189,000 after acquiring an additional 8,046 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Camden National in the 4th quarter valued at about $294,000. 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 purchasing an additional 3,330 shares during the period. Signaturefd LLC increased its position in Camden National by 2,990.3% during the 1st quarter. Signaturefd LLC now owns 38,567 shares of the financial services provider’s stock worth $1,293,000 after purchasing an additional 37,319 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in Camden National by 7.9% in the first quarter. Empowered Funds LLC now owns 33,496 shares of the financial services provider’s stock valued at $1,123,000 after buying an additional 2,450 shares during the period. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

Camden National Trading Up 0.0 %

CAC traded up $0.02 during trading on Friday, hitting $40.08. The company’s 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 stock has a market cap of $585.45 million, a PE ratio of 13.32 and a beta of 0.72. The firm’s 50 day moving average price is $38.69 and its 200-day moving average price is $34.44. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.81.

Camden National (NASDAQ:CAC) last released 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 firm had revenue of $72.81 million during the quarter, compared to analyst estimates of $41.07 million. During the same period in the prior year, the firm posted $0.85 earnings per share. On average, analysts expect that Camden National will post 3.33 earnings per share for the current year.

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.42 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.68 annualized dividend and a dividend yield of 4.19%. Camden National’s payout ratio is currently 55.81%.

Analyst Upgrades and Downgrades

CAC has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their price objective on shares of Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th. Stephens increased their price target on shares of 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 initiated coverage on Camden National in a research report on Sunday. They set a “hold” rating for the company.

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.