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

Camden National Co. (NASDAQ:CAC) was the recipient of a large 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. Approximately 3.3% of the shares of the stock are sold short. Based on an average daily volume of 37,600 shares, the short-interest ratio is presently 12.2 days.

Institutional Trading of Camden National

A number of institutional investors have recently modified their holdings of CAC. Hanson & Doremus Investment Management acquired a new position in Camden National during the 1st quarter worth approximately $35,000. PNC Financial Services Group Inc. lifted its holdings in Camden National by 201.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,243 shares of the financial services provider’s stock worth $35,000 after buying an additional 831 shares in the last quarter. Signaturefd LLC grew its stake 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 valued at $47,000 after acquiring an additional 743 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Camden National by 364.7% during the fourth quarter. Quadrant Capital Group LLC now owns 4,545 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 3,567 shares during the last quarter. Finally, First National Corp MA ADV acquired a new position in shares of Camden National in the fourth quarter worth about $265,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Camden National Price Performance

Shares of NASDAQ:CAC opened at $32.85 on Tuesday. The business has a fifty day simple moving average of $32.00 and a 200-day simple moving average of $33.18. Camden National has a 52 week low of $26.52 and a 52 week high of $39.70. The company has a market cap of $479.94 million, a P/E ratio of 10.91 and a beta of 0.74. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.09.

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

Camden National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.68 annualized dividend and a yield of 5.11%. Camden National’s dividend payout ratio is presently 55.81%.

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.