Camden National Co. (NASDAQ:CAC) Sees Large Growth in Short Interest

Camden National Co. (NASDAQ:CAC - Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 430,800 shares, a growth of 5.3% from the February 29th total of 409,200 shares. Based on an average daily volume of 43,400 shares, the short-interest ratio is currently 9.9 days. Approximately 3.1% of the company's stock are sold short.

Camden National Stock Up 0.3 %

Shares of CAC traded up $0.09 on Friday, hitting $31.14. 69,881 shares of the stock traded hands, compared to its average volume of 43,901. The company has a market capitalization of $453.62 million, a PE ratio of 10.48 and a beta of 0.74. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 0.81. The business has a 50 day simple moving average of $32.53 and a 200 day simple moving average of $32.94. Camden National has a one year low of $26.52 and a one year high of $39.70.

Camden National (NASDAQ:CAC - Get Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Camden National had a net margin of 16.86% and a return on equity of 10.90%. The company had revenue of $65.78 million during the quarter, compared to the consensus estimate of $42.75 million. During the same quarter last year, the firm earned $1.05 earnings per share. As a group, equities analysts forecast that Camden National will post 3.08 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date is Friday, April 12th. Camden National's dividend payout ratio (DPR) is presently 56.57%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CAC. StockNews.com lowered shares of Camden National from a "hold" rating to a "sell" rating in a report on Tuesday, February 27th. TheStreet raised shares of Camden National from a "c+" rating to a "b" rating in a research report on Wednesday, December 13th.

Institutional Investors Weigh In On Camden National

A number of large investors have recently added to or reduced their stakes in CAC. Vanguard Group Inc. grew its position in shares of Camden National by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 765,478 shares of the financial services provider's stock valued at $28,805,000 after acquiring an additional 18,460 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Camden National by 3.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 35,785 shares of the financial services provider's stock valued at $1,347,000 after buying an additional 1,073 shares in the last quarter. Barclays PLC lifted its stake in shares of Camden National by 40.3% during the 4th quarter. Barclays PLC now owns 51,463 shares of the financial services provider's stock valued at $1,936,000 after buying an additional 14,789 shares in the last quarter. Voya Investment Management LLC purchased a new position in shares of Camden National during the 4th quarter valued at $250,000. Finally, Nuveen Asset Management LLC lifted its stake in shares of Camden National by 1.4% during the 4th quarter. Nuveen Asset Management LLC now owns 49,217 shares of the financial services provider's stock valued at $1,852,000 after buying an additional 687 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.