Short Interest in Camden National Co. (NASDAQ:CAC) Expands 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. Based on an average daily trading volume, of 37,600 shares, the short-interest ratio is presently 12.2 days. Approximately 3.3% of the shares of the company are short sold.

Camden National Stock Performance

NASDAQ:CAC opened at $32.85 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $479.94 million, a P/E ratio of 10.91 and a beta of 0.74. Camden National has a 1 year low of $26.52 and a 1 year high of $39.70. The business has a fifty day simple moving average of $32.00 and a two-hundred day simple moving average of $33.18.

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

Camden National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be given 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 dividend yield of 5.11%. Camden National’s dividend payout ratio is currently 55.81%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Camden National

A number of hedge funds and other institutional investors have recently made changes to their positions in CAC. Franklin Resources Inc. increased its position in shares of 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 buying an additional 135,944 shares during the period. Dimensional Fund Advisors LP lifted its stake in Camden National by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 775,647 shares of the financial services provider’s stock worth $29,189,000 after purchasing an additional 8,046 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Camden National by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 747,018 shares of the financial services provider’s stock valued at $21,081,000 after purchasing an additional 6,807 shares during the period. ProShare Advisors LLC grew its position in shares of 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 in the last quarter. Finally, Clean Yield Group increased its holdings in shares of Camden National by 14.5% in the first quarter. Clean Yield Group now owns 92,421 shares of the financial services provider’s stock worth $3,098,000 after purchasing an additional 11,672 shares during the period. 77.41% of the stock is currently owned by institutional investors.

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.