Camden National Co. (NASDAQ:CAC) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 464,600 shares, an increase of 9.2% from the May 30th total of 425,300 shares. Approximately 3.1% of the company’s shares are short sold. Based on an average daily volume of 32,000 shares, the days-to-cover ratio is currently 14.5 days.
CAC has been the topic of a number of analyst reports. ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. BidaskClub raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, June 20th. Finally, Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.
Large investors have recently modified their holdings of the business. Legal & General Group Plc grew its position in shares of Camden National by 11.3% in the 4th quarter. Legal & General Group Plc now owns 2,840 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 288 shares in the last quarter. BMT Investment Advisors grew its stake in shares of Camden National by 1.0% in the 1st quarter. BMT Investment Advisors now owns 52,694 shares of the financial services provider’s stock valued at $2,198,000 after purchasing an additional 500 shares during the period. Citigroup Inc. grew its stake in shares of Camden National by 17.5% in the 4th quarter. Citigroup Inc. now owns 4,999 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 743 shares during the period. Walthausen & Co. LLC grew its stake in shares of Camden National by 0.8% in the 4th quarter. Walthausen & Co. LLC now owns 155,091 shares of the financial services provider’s stock valued at $5,579,000 after purchasing an additional 1,230 shares during the period. Finally, Putnam FL Investment Management Co. grew its stake in shares of Camden National by 18.2% in the 4th quarter. Putnam FL Investment Management Co. now owns 9,510 shares of the financial services provider’s stock valued at $342,000 after purchasing an additional 1,465 shares during the period. Institutional investors own 67.56% of the company’s stock.
Camden National stock opened at $44.13 on Tuesday. The firm’s fifty day moving average is $44.01. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $692.73 million, a PE ratio of 13.02 and a beta of 0.82. Camden National has a fifty-two week low of $33.49 and a fifty-two week high of $47.25.
Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.12. Camden National had a net margin of 27.70% and a return on equity of 12.73%. The firm had revenue of $41.28 million during the quarter, compared to analysts’ expectations of $40.30 million. On average, equities research analysts forecast that Camden National will post 3.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, July 12th. Camden National’s dividend payout ratio (DPR) is 35.40%.
About Camden National
Camden National Corporation operates as the holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit, and commercial customers. It offers various deposit products, including demand, checking, saving, and money market accounts; and time deposits, as well as certificates of deposit.
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